@article {1201, title = {Living Labs versus Lean Startups: An Empirical Investigation}, journal = {Technology Innovation Management Review}, volume = {8}, year = {2018}, month = {12/2018}, pages = {7-16}, publisher = {Talent First Network}, address = {Ottawa}, abstract = {Although we seem to be living in an era where founding a startup has never been easier, studies point to the high mortality rates of these organizations. This {\textquotedblleft}startup hype{\textquotedblright} has also induced many practitioner-based innovation management approaches that lack empirical studies and validation. Moreover, a lot of these approaches have rather similar angles, but use different wordings. Therefore, in this article, we look into two of these {\textquotedblleft}hyped{\textquotedblright} concepts: the lean startup and living labs. We review the academic studies on these topics and explore a sample of 86 entrepreneurial projects based on project characteristics and outcomes. Our main finding is that the two approaches appear to be complementary. Living labs are powerful instruments to implement the principles of the lean startup, as the real-life testing and multi-disciplinary approach of living labs seem to generate more actionable outcomes. However, living labs also require the flexibility of a startup {\textendash} ideally a lean one {\textendash} to actually deliver this promise. Thus, rather than picking a winner in this comparison, we argue that combining the concepts{\textquoteright} different strengths can bring clear benefits.}, keywords = {entrepreneurs, impact, Innovation management, lean startup, Living lab, Open innovation, testing, user innovation}, issn = {1927-0321}, doi = {http://doi.org/10.22215/timreview/1201}, url = {https://timreview.ca/article/1201}, author = {Dimitri Schuurman and Sonja M. Protic} } @article {828, title = {Down the Rabbit Hole: How Structural Holes in Entrepreneurs{\textquoteright} Social Networks Impact Early Venture Growth}, journal = {Technology Innovation Management Review}, volume = {4}, year = {2014}, month = {09/2014}, pages = {19-27}, publisher = {Talent First Network}, address = {Ottawa}, abstract = {Social networks play a significant role in the success of new entrepreneurial ventures. They provide an accumulation of tangible and intangible resources that are linked to entrepreneurial outcomes such as growth and innovation. The structure of social networks, specifically, has been linked to these outcomes; structural holes in social networks have shown an association with entrepreneurial success. Entrepreneurs who have many structural holes in their networks are thought to benefit from a rich source of divergent information. This article examines the complex nature of the relationships among social networks, formal institutions, and the outcomes of new ventures. It also explores the effects of a social network{\textquoteright}s structural holes on growth in the early years of a venture{\textquoteright}s development. We propose that structural holes of a social network, through a mediating role of institutional polycentrism, play an important role in the growth and profitability of a new venture as well as potential threats of exploitation. We then provide recommendations based on the reviewed literature for entrepreneurs and managers of formal institutions. }, keywords = {entrepreneurs, institutional order, social networks, structural holes, venture growth}, issn = {1927-0321}, doi = {http://doi.org/10.22215/timreview/828}, url = {http://timreview.ca/article/828}, author = {Mackenzie Adams and Maged Makramalla and Walter Miron} } @article {693, title = {Leveraging Old Intellectual Property to Accelerate Technology Entrepreneurship}, journal = {Technology Innovation Management Review}, volume = {3}, year = {2013}, month = {06/2013}, pages = {21-27}, publisher = {Talent First Network}, address = {Ottawa}, abstract = {Acquiring or licensing assets to older technologies, including surviving intellectual property rights, is an often-overlooked viable strategy for accelerating technology entrepreneurship. This strategy can help entrepreneurs short-cut the growth of a customer base, reduce development effort, and shorten the time to market with a minimum viable product. However, this strategy is not without risk; entrepreneurs need to be careful that the acquired intellectual property rights are not fraught with issues that could severely outweigh any perceived value. Proper investigation is required to ensure success because the current literature fails to provide tools that an entrepreneur can apply when considering the acquisition of intellectual property. This article includes a case study of a technology company {\textendash} Piranha Games {\textendash} that indirectly acquired sole and exclusive access to a substantial historical customer base by acquiring and licensing older technology and surviving intellectual property assets. The founders then leveraged the existing product brand and its historical customers to acquire significant funding and went global with a minimum viable product in three years. The copyright and trademark assets provided value on day one to Piranha Games by making it difficult and risky for others to exploit the technology. Based on this case study, this article offers recommendations to entrepreneurs who may benefit from acquiring old intellectual property to accelerate the growth of their startups.}, keywords = {accelerated startup, business models, copyright, crowdfunding, due diligence, entrepreneurs, funding, intellectual property, old technology, product development clearance, trademark}, issn = {1927-0321}, doi = {http://doi.org/10.22215/timreview/693}, url = {http://timreview.ca/article/693}, author = {Derek Smith} } @article {685, title = {Navigating Risk When Entering and Participating in a Business Ecosystem}, journal = {Technology Innovation Management Review}, volume = {3}, year = {2013}, month = {05/2013}, pages = {25-33}, publisher = {Talent First Network}, address = {Ottawa}, abstract = {Entrepreneurs typically have limited resources during the start-up phase of a business. Business ecosystems are a strategy for entrepreneurs to access and exchange many different aspects of value, resources, and benefits. However, there may be business risks for entering a particular type of ecosystem, and further risks may be encountered after entering and participating in a business ecosystem. These risks are significant and can inhibit a startup{\textquoteright}s growth. In this article, the literature on business ecosystems is reviewed as it relates to risk to discover insights of relevance to entrepreneurs, top management teams, and business-ecosystem operators. First, the published research is organized into two streams: i) risks relating to categories of business ecosystems, and ii) risks relating to participating in business ecosystems. Then, the problem is abstracted to develop a potential strategy for managing these risks, which features a pre-entry inspection followed by real-time resource management. Finally, five recommendations are offered for entrepreneurs seeking to enter and participate in business ecosystems.}, keywords = {business ecosystem, due diligence, entrepreneurs, literature review, mitigation, risk, risk identification, startups, threat management}, issn = {1927-0321}, doi = {http://doi.org/10.22215/timreview/685}, url = {http://timreview.ca/article/685}, author = {Derek Smith} } @article {613, title = {Editorial: Born Global (October 2012)}, journal = {Technology Innovation Management Review}, volume = {2}, year = {2012}, month = {10/2012}, pages = {3-4}, publisher = {Talent FIrst Network}, address = {Ottawa}, keywords = {born global, entrepreneurs, entrepreneurship, export, globalization, internationalization, startups}, issn = {1927-0321}, doi = {http://doi.org/10.22215/timreview/613}, url = {http://timreview.ca/article/613}, author = {Chris McPhee and Tony Bailetti} } @article {520, title = {Technology Entrepreneurship: Overview, Definition, and Distinctive Aspects}, journal = {Technology Innovation Management Review}, volume = {2}, year = {2012}, month = {02/2012}, pages = {5-12}, publisher = {Talent First Network}, address = {Ottawa}, abstract = {Technology entrepreneurship lies at the heart of many important debates, including those around launching and growing firms, regional economic development, selecting the appropriate stakeholders to take ideas to markets, and educating managers, engineers, and scientists. Unless a generally accepted definition of technology entrepreneurship is established, however, these debates lose their focus. The purpose of this article is to identify the themes that dominate the technology entrepreneurship literature, provide a definition of technology entrepreneurship, and identify its distinguishing aspects relative to economics, entrepreneurship, and management. The author argues that technology entrepreneurship is an investment in a project that assembles and deploys specialized individuals and heterogeneous assets to create and capture value for the firm. What distinguishes technology entrepreneurship from other entrepreneurship types (e.g., social entrepreneurship, small business management, and self-employment) is the collaborative experimentation and production of new products, assets, and their attributes, which are intricately related to advances in scientific and technological knowledge and the firm{\textquoteright}s asset ownership rights. }, keywords = {entrepreneurs, entrepreneurship, technology entrepreneurs, technology entrepreneurship}, issn = {1927-0321}, doi = {http://doi.org/10.22215/timreview/520}, url = {http://timreview.ca/article/520}, author = {Tony Bailetti} } @article {614, title = {What Technology Startups Must Get Right to Globalize Early and Rapidly}, journal = {Technology Innovation Management Review}, volume = {2}, year = {2012}, month = {10/2012}, pages = {5-16}, publisher = {Talent First Network}, address = {Ottawa}, abstract = {Upon or shortly after inception, growth-oriented technology startups must operate in a market that is global. Management teams and investors of technology startups can benefit from approaches and models that can help them operate in a global market early and rapidly. How well a technology startup addresses the realities of globalization will determine its success. A better understanding of what management teams and investors of technology startups must get right to globalize their startups is needed. This article is an attempt to meet this need. In this article, lessons that have been extracted from six literature streams and from information on 21 startups founded in 12 countries are used to identify the six elements that a startup must get right to globalize early and rapidly. These six elements are: i) Problem scope, ii) Stakeholders{\textquoteright} commitments, iii) Collaborative entrepreneurship, iv) Relational capital, v) Legitimacy, and vi) Global capability. The main contribution of this article is that it throws the spotlight on the need to develop prescriptive rules and practitioner-oriented models that can help a technology startup operate globally from an early stage. }, keywords = {born global, effectuation logic, entrepreneurs, entrepreneurship, global startups, globalization, gradual internationalization, internalization, international new ventures, internationalization, multinational, rapid internationalization, startups}, issn = {1927-0321}, doi = {http://doi.org/10.22215/timreview/614}, url = {http://timreview.ca/article/614}, author = {Tony Bailetti} } @article {491, title = {A Sales Execution Strategy Guide for Technology Startups}, journal = {Technology Innovation Management Review}, volume = {1}, year = {2011}, month = {10/2011}, pages = {32-36}, publisher = {Talent First Network}, address = {Ottawa}, abstract = {The majority of startups fail to consider sales execution as part of their overall strategy. This article demonstrates how a sales execution strategy can help a company take a product or service to market more efficiently and effectively by focusing on the customers that are key to generating revenue. Combined with techniques for recruiting effectively and measuring sales outcomes, a sales execution strategy helps technology startups exceed growth aspirations and potentially reduce or even eliminate the requirement for external investment. In this article, we first describe the focus of assistance currently given to startups and the reasons why sales execution strategies are often overlooked. Next, we outline recommendations for developing, implementing, and supporting a sales execution strategy. Finally, we summarize the key points presented in the article. }, keywords = {entrepreneurs, sales, sales execution strategy, sales strategy, startups}, issn = {1927-0321}, doi = {http://doi.org/10.22215/timreview/491}, url = {http://timreview.ca/article/491}, author = {Ian Gilbert and Stephen Davies} }