Internationalizing higher education: from grand plans to evolving responses

Purpose – This paper explores the complexity of developing into an international institution from the perspective of higher education leaders through the case study of one institution engaged in institutional transformation. Design/Methodology/Approach – This study employs the qualitative approach and involves in-depth interviews with key institutional managers. Findings - Findings suggest internationalization is a dynamic change process that goes beyond the rational and predictive elements of internationalization and cannot be confined to the rational planning and grand plans solely at institutional level. Reciprocal influence of different levels of analysis – institution, society and the nation – needs to be acknowledged and internationalization efforts need to go beyond the confines of the institution and extend into the society and the nation as a whole. Originality/Value - Internationalization of higher education has been widely examined, but the reciprocal influence of different levels of analysis on the internationalization efforts of higher education institutions is thin to which this paper contributes

The early experience of smart specialization implementation in EU cohesion policy

This paper discusses the early-stage experience of the smart specialization agenda within EU Cohesion Policy. The analysis examines the types of policy prioritization choices made by different member states and regions and seeks evidence on the extent to which weaker regions, in particular, might be constrained in their choices. The paper then reviews the evidence arising out of various surveys of policy-makers’ own experience and perceptions of the agenda, and concludes with a discussion of the major features of the policy progress so far and the main challenges ahead

Euroopa Liidu tõukefondide perioodi 2007‐2013 teadus‐ ja arendustegevuse ning kõrghariduse meetmete rakendamise vahehindamine

Käesolev Euroopa Liidu struktuurifondide kõrghariduse ning teadus‐ ja arendustegevuse meetmete vahehindamine keskendus kuuele meetmete asjakohasust ning rakendamise edukust puudutavale hindamisküsimusele. Hindamisküsimustele vastuste leidmiseks viidi läbi kaheetapiline analüüs – esmalt analüüsiti valdkonna struktuurifondide strateegilist planeerimist ja juhtimist, teises etapis vaadeldi meetmete rakendamist, kasutades seejuures ka detailsema vaate saamiseks juhtumianalüüse. Analüüsitulemuste valideerimiseks viidi seejärel läbi ekspertpaneel – seminar, millesse kaasati osalisi nii valdkonna poliitikakujundajate kui ka ekspertide seast.www.hm.ee/index.php?popup=download&id=1156

nanoSTAIR: a new strategic proposal to impulse standardization in nanotechnology research

Nanotechnology is considered one of the key technologies of the 21st century within Europe and a Key-Enabling Technology (KET) by Horizon 2020. Standardization has been identified in H2020 as one of the innovation-support measures by bridging the gap between research and the market, and helping the fast and easy transfer of research results to the European and international market. The development of new and improved standards requires high quality technical information, creating a fundamental interdependency between the standardization and research communities. In the frame of project nanoSTAIR (GA 319092), the present paper describes the European scenario on research and standardization in nanotechnology and presents a proposal of a European strategy (nanoSTAIR) to impulse direct "pipelines" between research and standardization. In addition, strategic actions focused on integration of standardization in the R&D projects, from the early stages of the design of a future business (Project Proposal), are also described.European Commission, through the Seventh Framework Programme (GA 319092)

The role of government co-investment funds in the supply of entrepreneurial finance: An assessment of the early operation of the UK Angel Co-investment Fund

Co-investment funds – which invest alongside private investors, especially business angels – thereby leveraging their networks and experience and minimizing public sector transaction costs – are a recent approach by governments in various countries to address the early stage entrepreneurial funding gap which is perceived as a barrier to the ability of firms to scale-up. However, little literature exists on their operation, impact and effectiveness. This paper assesses the early operation of the UK’s Angel Co-investment Fund, established in 2011. Interview evidence from angels and business managers suggests that the Angel Co-investment Fund is improving the availability of finance by enabling firms to raise funding rounds of between £500,000 and £2 m, hence addressing some aspects of the broken finance escalator model. However, our evidence suggests that it is not yet impacting the supply side, either in terms of stimulating the formation of new angel groups or enhancing learning amongst less experienced angels. Some aspects of the operation of the investment process have attracted criticism from angels and entrepreneurs which need to be addressed. Nevertheless, there is sufficient evidence for positive impact to justify the scheme’s expansion

Government policy failure in public support for research and development

peer-reviewedPromoting Research and Development (R&D) and innovative activity is a key element of the EU Lisbon Agenda and is seen as playing a central part in stimulating economic development. In this paper we argue that, even allowing for benevolent policy-makers, informational asymmetries can lead to a misallocation of public support for R&D, hence government policy failure, with the potential to exacerbate preexisting market failures. Initially, we explore alternative allocation mechanisms for public support, which can help to minimize the scale of these government policy failures. Of these mechanisms (grants, tax credits, or allocation rules based on past performance), our results suggest that none is universally most efficient. Rather, the effectiveness of each allocation rule depends on the severity of financial constraints and on the level of innovative capabilities of the firms themselves.ACCEPTEDpeer-reviewe

Establishing a new UK finance escalator for innovative SMEs: the roles of the Enterprise Capital Funds and Angel Co-investment Fund

This paper examines UK public policy addressing the seed and early stage equity finance gap since the Global Financial Crisis (GFC). Drawing on lessons learned from recent studies of UK and international government equity schemes, two contemporary models of government backed equity finance are examined. The focus is on the Enterprise Capital Funds (ECFs) and the Angel Co-investment Fund (ACF), the UK government’s main schemes operating in the sub-£2m equity finance gap to address the capital requirements for developing the UK’s young, potential high growth businesses. The paper highlights the shortcomings of traditional interim fund performance analysis and presents current demand and supply side evidence that establishes that these schemes are making attributable impacts on their portfolio businesses and the wider UK economy. It also demonstrates that they are playing important roles in the establishment of a new post GFC UK finance escalator. However, whilst these schemes were found to be currently complementary and effective, their future roles within the UK’s evolving post GFC seed and early stage equity markets are also considered. Key Words: Government Equity Schemes, Venture Capital, Potential High Growth SME