- P-ISSN2287-1608
- E-ISSN2287-1616
- KCI
7권 1호
초록
Abstract
Technology-based start-ups have been occupying increasing attention of empirical researchers and policy makers globally, due to their high-potential to contribute to employment generation, new products and services, and national income (Bala Subrahmanya, 2015). Technology-based start-ups have long been an important driver of America’s economic growth and competitiveness (Hathway and Litan, 2014). Of late, India has been recognized, as one of the potential sources of high-tech start-ups in the global economy (Gai and Joffe, 2013); and it currently ranks third globally, in terms of number of existing start-ups and number of start-up exits (due to acquisitions) (NASSCOM, 2015; TOI, 2016). Today, India is considered one of the fastest growing emerging economies globally (Global Finance, 2018). However, its major challenges continue to be in generating employment to the vast and growing labour force and achieving a higher level of social equity.
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Abstract
Japan’s manufacturing is mostly dependent on the automotive industry in Toyota-Kariya cities. However, the nearby city of Hamamatsu is the home of a start-up ecosystem known as Japan’s Silicon Valley. How is it possible to evaluate the innovative potential of each regional industry? What kind of guidelines exist for continuing R&D investment when companies’ net incomes are negative in the face of the ‘Valley-of–Death’ or financial crisis? Is it possible to measure the regional resilience ability in the context of the financial crisis? Entrepreneurial innovation is defined as a real-option portfolio consisting of investment decision to commercialize R&D findings. The subcontractor system implies a vertical and tight industrial group. However, a start-up ecosystem means a platform for horizontal and flexible partnership. In this research, the data include the financial indices of each of 18 public companies in both regions between FY2009 and FY2017. The objective of this paper is to clarify the call option or resilience function of equity for R&D investment in the context of the financial crisis in both regions by using Bayesian MCMC analysis.
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Abstract
Tech start-ups and their ecosystems are gaining increasing prominence globally and so are in India, due to their potential to contribute to employment generation, innovations, productivity, national income and exports. Against this backdrop, this article analyzes the key characteristics of tech start-ups relative to traditional start-ups and modern start-ups in India. Further, the salient features of tech start-up promotion policies initiated by the government of India and government of Karnataka as well as the current regional and sectoral distribution of start-ups is elucidated. Subsequently, the structure and components of entrepreneurial ecosystems currently under evolution in the metro cities of India are examined. Finally, the key factors contributing to the growth of different ecosystem components and its implications for the future growth of tech start-ups are outlined.
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Abstract
This paper investigates the linkage between the mode of transformation of entrepreneurial learning into outcomes and the subsequent impact of these learning outcomes in enhancing the survival of high-tech startups in India. The study uses data from 45 high-tech startups headquartered across different locations in India for the purpose of analysis. Survival Analysis of the data is conducted to determine which mode of learning transformation and what type of en trepreneurial decision making preference have a significant influence on the survival of Indian high-tech startups and to what extent do they impact their survival. The results indicate that entrepreneur's prior startup experience, explorative mode of learning transformation, causal decision making of the entrepreneur and availability of funding for the startup as the key factors that reduce the time to survival of Indian high-tech startups. They also provide key insights on how these factors impact the startup survival in this region.
초록
Abstract
In an entrepreneurial ecosystem, the failure rate of startups is extremely high at 90%, and every startup that fails becomes an orphan. This phenomenon leads to higher costs of failure for the entrepreneurs in the ecosystem. Failed startups have many lessons to offer to the ecosystem and offer guidance to the potential entrepreneur, and this area is not fully explored compared to the literature on successful startups. We use a case based method distinguishing a failed startup and a successful startup, studying the entrepreneurial characteristics and firm level factors which cause the failures, in the technology startup ecosystem of Bangalore. We study one of the modes of exit adopted by failed startup entrepreneurs and draw key lessons on causes that culminate in failures. We have identified that factors such as the time to minimum viable product cycle, time for revenue realization, founders’ complementary skillsets, age of founders with their domain expertise, personality type of founders, attitude towards financial independence and willingness to avail mentorship at critical stages, will decisively differentiate failed startups from the successful ones. Accordingly, implications have been derived for potential entrepreneurs for reducing the cost of failures in the entrepreneurial ecosystem.
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Abstract
It is generally understood that clusters are the promoters of innovation and therefore, the attention of researchers has been increasingly to discern the factors driving innovation among the firms in a cluster, especially in a high-tech cluster. In this study, we identify the variables capturing the nature of a firm that possibly impact the absorptive capacity of a firm and subsequently ascertain their impact on the degree of interactions between a firm, and other firms and associated institutions within and outside a cluster, respectively. Furthermore, we probe the influence of these interactions as a whole on firm-level innovation. The study was carried out in the context of Bengaluru, which houses the densely interconnected network of innovation-intensive high-tech manufacturing firms forming a high-tech manufacturing cluster. Data were drawn from 101 high-tech manufacturing firms belonging to electronics, machine tools, electrical and pharmaceutical industries. Based on the cluster analysis and subsequent graphical analysis on each of the three profiled clusters, it was found that size and origin of a firm have significant impact on the degree of firm's interactions. In turn, higher dynamism of firms in terms of degree of interactions led to higher innovation performance.
초록
Abstract
Multinational corporations (MNCs) leverage global locations for efficient production and sustained growth, and move significant foreign direct investments globally, particularly into emerging economies. MNCs also engage in entrepreneurial ecosystems of host countries for strategic benefits and impact the ecosystem as well. Of late, MNCs are increasingly entering into emerging economies like India through foreign direct investment (FDI) inflows and they are playing a vital role in start-up promotion in the entrepreneurial ecosystem. Therefore, we examine the role of MNCs and its impact on the entrepreneurial ecosystems in India by exploring a symbiotic relationship between MNCs and startups. We use a case-based method to ascertain and analyze specific benefits that emerge from such symbiotic relationships and draw implications for startups in India's technology entrepreneurial ecosystem.
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Abstract
We review two specific risk management strategies of venture capitalists (VCs): deal syndication and domain specialization with respect to their explicit role in adjudging and managing the overall magnitude of information asymmetry risks. These are analyzed for three distinct categories of VC firms as classified by their funding stage focus (early vs. late), ownership type (foreign vs. domestic) and the human capital composition of the core VC team (entrepreneurial vs. investor). The analysis is based on both secondary data and primary data for active 72 VC firms in India. Syndication is moderately important for entrepreneurial VC firms, but not at all important for early-stage focused and foreign VC firms. This finding is distinctly different from what has been conventionally observed in the literature. Among the various arenas of domain specialization, high-technology focus is important for all segments of VC firms. In the context of investment-stage focus, foreign VC firms exhibit growth-stage specialization, while entrepreneurial VC firms concentrate on earlier investment stages.
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Abstract
In this paper, we present a case study of a new emerging business startup involved in smart house appliances. The irreversible investment concept and real-option theory are introduced as the fundamentals of the model. By using games theory we show that the startup's actions can trigger reactions from other firms. The first part covers initial the research and development stage, while the second part covers production and commercialization. The findings of this study suggest that, given a certain amount of initial investment, an open and shared innovation may lead to hurting a firm's investment while strengthening the competitors' position in the market. However, given the sensitivity analysis, when volatility and demand grow favorably, sharing R&D investment is not a bad option for a new player to adjust its position in the market while still maintaining positive returns.
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Abstract
This article focuses on the legal systems and practice of intellectual property protection in Japan and China, including the relating civil litigation and administrative litigation procedures. The challenge of balancing the relationship between an invalidation trial and an invalid defense during the process of civil patent infringement litigation is a common issue to be solved in both Japan and China. In addition, it is quite usual that the IP products are being imported and exported across the borders due to the expansion of international trade. Accordingly, one of the most symbolic and difficult issues is how to balance the development of international trade and IP protection in each country. In other words, there is a practical issue regarding whether a parallel import of patented products is acceptable to a country or not. The key to determining this issue depends on the judgment of international exhaustion.
초록
Abstract
A manufacturer of a durable good typically purchases supplies, including parts for assembly - that are also useful for repairs - from independent "original equipment suppliers" with which it contracts. The manufacturer is a branded monopolist of its final assembled product. To put into effect also a monopoly of the replacement parts, it must stipulate in its arrangements with independent suppliers of the parts that they not supply such patented parts to any other buyer. Durable good owners would then only be able to obtain their requirements of replacement parts from the same company that supplied the durable. This would amount to a tie-in of replacement parts to the direct purchase of new durables. And that describes the apparently widespread practice of automobile manufacturers in India, as exposed in a recent case before the Competition Commission of India (Samsher Kataria v Honda Siel Cars India Limited and others). Here, I will argue that such tie-in enabled automotive manufacturers to more fully appropriate consumer surplus, which induced them to lower the price of new cars, sell more cars and also sell more repair parts. The tie-in expanded the auto parts industry and promoted new entry. The main restraint on expansion of India's automotive manufacturing is not monopoly. It is government protection in the form of tariffs on automobiles and auto parts.