A Comparative Analysis of Polish and Czech International New Ventures

Danik, Lidia; Kowalik, Izabela; Král, Pétr

doi:10.18267/j.cebr.152

Cited by 7 publications

(6 citation statements)

References 30 publications

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“…Ciszewska-Mlinaric et al 2016). Danik et al (2016) called attention to the possible differences in the geographical targets and scope of internationalisation as well as inclination to and areas of innovation among CEE INVs, based on Society and Economy 41 (2019) Polish and Czech cases. In this, possibly, the strength of bilateral economic relations between the home and host countries and the presence of diaspora can play a role.…”

Section: Theoretical Background and Existing Empirical Resultsmentioning

confidence: 99%

“…An increasing number of business news, reports and articles document and analyse the existence and characteristics of companies in Central and Eastern Europe , which soon after their establishment began growing and/or internationalising very rapidly (see for example Jarosińki 2014; Zbierowski 2014; Sliwinski -Sliwinska 2014; Nowinski -Rialp 2013; Kiss et al 2012;Lamotte -Colovic 2015;Danik et al 2016;Vissak 2007). There have been such cases reported in Hungary as well (Czakó -Könczöl 2014;Békés -Muraközy 2012;Némethné Pál 2010), and a few "born global" firms have also been identified (Sass 2012;Szalavetz 2015).…”

Section: Introductionmentioning

confidence: 99%

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Hungarian international new ventures – Market selection and the role of networks in early internationalisation

Kozma

Sass

2019

Soc Ec

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In this article we rely on the concept of "international new ventures" (INV), and concentrate on the analysis of two research propositions in the case of selected Hungarian INVs, based on company interviews in two selected industries, biotechnology and information technology. First, we analyse the criteria of the selection of foreign markets in the internationalisation of these fi rms and second, the role of networks in the internationalisation process of selected Hungarian INVs. Our results highlight the typical internationalisation pattern of targeting the largest developed foreign markets globally. In terms of the role of networks in internationalisation, we found evidence of the decisive role of networks in all cases examined. The personal network of the founder(s) was emphasised, especially in winning early clients. The scalability of the personal network-based business model was, however, questioned. The management implications of our fi ndings suggest Hungarian INVs need to intensify their involvement in international communities supporting the growth of such companies. Areas for potential future research include comparing our fi ndings with empirical results from other countries in Central-Eastern Europe.

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Section: Theoretical Background and Existing Empirical Resultsmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

Hungarian international new ventures – Market selection and the role of networks in early internationalisation

Kozma

Sass

2019

Soc Ec

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“…Members of the initiative group that created the enterprise are aware of the possible risks that may lead to the termination of the project [19]. They outlined and implement a plan of measures that eliminate the consequences of emergence of undesirable situations; 1 Start1 -the conditional title of the initial sub-step Start Up in terms of the accepted in the Russia state-funded "Fund", assumes a period of time for which a small enterprise claims the right to exist.…”

Section: A Description Of the Conditions For The Implementation Of Amentioning

confidence: 99%

Features of the Transition to the Second Stage of Commercialization of Scientific Research

Roganova¹,

Gushchin²,

Roganov³

et al. 2019

Proceedings of the International Scientific Conference "Far East Con" (ISCFEC 2018)

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The article presents the results of the analysis of successful implementation by small enterprises of various projects on the commercialization of scientific research. Three enterprises LLC "Video3", LLC NPP "Kristall" and LLC "Penzaplav" were co-founders of the informal holding, whose work predetermined the successful course of implementation of innovative projects. The initiative groups that created the three enterprises had previously conducted experiments and had significant scientific potential on the basis of which work was carried out to commercialize the results of scientific research. The main projects carried out by enterprises are related to different branches of the national economy and do not compete for Customers. Enterprises were created at different times. LLC "Video3" was created two years earlier. All enterprises have won grants for co-financing innovative projects by the Russian state budgetary institution "Foundation for the Promotion of Small Forms of Enterprises in the Scientific and Technical Sphere". Errors made earlier by LLC "Video3" were taken into account when planning the implementation of innovative projects LLC "Penzaplav" and LLC NPP "Kristall". The preferences of LLC "Video3" from participation in an informal holding company are an opportunity to attract specialists of LLC "Penzaplav" and LLC NPP "Kristall" on preferential terms for carrying out design work, training personnel and participating in promotional activities. As a result, three companies have successfully completed the Start Up phase and are currently looking for a General Investor who can start mass production and sale of new products.

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“…It was assumed that such a step would give a powerful impetus in increasing the number of small enterprises that are carrying out the innovative project and improve the quality of their work. World practice shows that when the results of scientific research are commercialized, it is the state at the first stage that is responsible for financially supporting the implementation of the innovative project in the form of grants [12]. In the Russian Federation, the support of the members of the initiative group (always on a competitive basis) can be carried out by the regional government or state funds, of which the Federal State Budgetary Institution "Foundation for the Promotion of Small Forms of Enterprises in the Scientific and Technical Sphere" (hereinafter the Fund) [13] in exceptional cases, such a project is supported by other sponsors by business angels or venture funds, which are usually connected to the stage of development of an innovative project after passing stage Start Ap.…”

Section: Technology Vyponeniya Innovation Projectmentioning

confidence: 99%