Look Before You Leap: Market Opportunity Identification in Emerging Technology Firms

Gruber, Marc; MacMillan, Ian C.; Thompson, James D.

doi:10.1287/mnsc.1080.0877

Cited by 369 publications

(310 citation statements)

References 43 publications

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“…University spin-offs often pursue several business models at the same time (Clausen and Rasmussen 2012). The market application of technological inventions and knowledge is rarely clear from the outset (Gruber et al 2008) and the business models are modified as entrepreneurs gain more knowledge about resources and potential opportunities (Chesbrough and Rosenbloom 2002).…”

Section: Opportunity Development Competencymentioning

confidence: 99%

How can universities facilitate academic spin-offs? An entrepreneurial competency perspective

2015

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Some universities are successfully involved in creating and developing new high-growth technology businesses while others struggle to do so. Clearly, the characteristics of the university and its environment are important, but explain only part of this variation. We explore how universities can promote new research-based businesses by suggesting that the nature of the support supplied depends on the demands of the spin-off firms. Adopting a demand side perspective, we seek to understand the challenges faced by new technology businesses and hence identify how universities can assist their start-up and development.From the academic entrepreneurship literature, we derive how universities can supply support for the development of firm competencies either directly or indirectly. The paper nuances the common conception of a university as one uniform entity in relation to spin-offs, and assesses the literature including all levels within the university, from central university administration, TTO, department, research group, scientist, and students.

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Section: Opportunity Development Competencymentioning

confidence: 99%

How can universities facilitate academic spin-offs? An entrepreneurial competency perspective

2015

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“…Specifically, they need to draw on influencing, monitoring, and updating strategies to ensure that the emerging value proposition will evolve in such a way that control points through which the firm hopes to capture some of the created value can actually ever apply. Finally, we highlight how our insights may hold the potential to provide a fresh view toward combining more goal-oriented (Gruber et al, 2008(Gruber et al, , 2013McGrath & MacMillan, 2000) and more process-oriented (Baker & Nelson, 2005;Sarasvathy, 2001;Sarasvathy, Dew, Read, & Wiltbank, 2008) perspectives of entrepreneurship.…”

Section: Introductionmentioning

confidence: 98%

“…Such envisioning, however, is not always possible (Anderson, 1999;Dougherty & Dunne, 2011;Dunne & Dougherty, 2016), in particular not when built on generative technologiestechnologies which have the potential to produce unprompted change and to create a breathtaking variety of potential future applications (Gruber, MacMillan, & Thompson, 2008;Zittrain, 2006). For example, attempts to introduce new technologies at lower layers of the digital infrastructure (say, new chip standards to enable near-field communications for 'Internet of Things' applications) typically tend to enable such a large number of potential user-facing applications at upper layers that this can easily overwhelm prospective stakeholders.…”

Section: Introductionmentioning

confidence: 99%

Maneuvering in Poor Visibility: How Firms Play the Ecosystem Game when Uncertainty is High

Dattée

Alexy

Autio

2018

AMJ

392

384

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Abstract:Innovation ecosystems are increasingly regarded as important vehicles to create and capture value from complex value propositions. While current literature assumes these value propositions can be known ex-ante and an appropriate ecosystem design derived from them, we focus instead on generative technological innovations that enable an unbounded range of potential value propositions, hence offering no clear guidance to firms. To illustrate our arguments, we inductively study two organizations, each attempting to create two novel ecosystems around new technological enablers deep in their industry architecture. We highlight how ecosystem creation in such conditions is a systemic process driven by coupled feedback loops, which organizations must try to control dynamically: firms first make the switch to creating the ecosystem following an external pull to narrow down the range of potential applications; then need to learn to keep up with ecosystem dynamics by roadmapping and preempting, while simultaneously enacting resonance. Dynamic control further entails counteracting the drifting away of the nascent ecosystem from the firm's idea of future value creation and the sliding of its intended control points for value capture. Our findings shed new light on strategy and control in emerging ecosystems, and provide guidance to managers on playing the ecosystem game.

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“…Previous studies showed that an individual's experiences play an important role in his/her perception of the environment [38] and sustainability-oriented actions [14]. Therefore, we controlled for three types of entrepreneurial experience, namely management experience, marketing experience, and technology experience [72]. We included three firm-level control variables.…”

Section: Control Variablesmentioning

confidence: 99%

Does Thinking Style Make a Difference in Environmental Perception and Orientation? Evidence from Entrepreneurs in Post-Sanction Iran

2018

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Styles of thinking set different paths for an entrepreneur's perception and strategic action. In order to understand the environmental consequences of a thinking style, we investigated the relations between entrepreneurs' linear and nonlinear styles of thinking with their perception of environmental uncertainty in their businesses. Furthermore, we tested the effect of the entrepreneurs' linear and nonlinear style of thinking on their newly established firms' orientation towards preserving the surrounding internal and external environment. Entrepreneurs with linear or rational thinking styles prefer more tangible data, information, facts, and analytical tools, and entrepreneurs with nonlinear or non-rational thinking styles rely more on internal feelings, impressions, imagination, creativity, and sensations when making important organizational decisions. By using cross-sectional survey data from 144 entrepreneurs in post-sanction Iran (2016-2017), we found that entrepreneurs with a linear style of thinking, in comparison to entrepreneurs with a nonlinear style of thinking, perceive a higher level of environmental state, effect, and response uncertainty in their business context. Furthermore, our survey results reveal that newly established firms by entrepreneurs with nonlinear styles of thinking have a more external environmental orientation, while newly established firms by entrepreneurs with a linear style of thinking have a more internal environmental orientation. Recognizing this contingency advances our understanding of how entrepreneurs perceive and enact their environments.

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Look Before You Leap: Market Opportunity Identification in Emerging Technology Firms

Cited by 369 publications

References 43 publications

How can universities facilitate academic spin-offs? An entrepreneurial competency perspective

How can universities facilitate academic spin-offs? An entrepreneurial competency perspective

Maneuvering in Poor Visibility: How Firms Play the Ecosystem Game when Uncertainty is High

Does Thinking Style Make a Difference in Environmental Perception and Orientation? Evidence from Entrepreneurs in Post-Sanction Iran

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