Funding innovation and managing innovation
18 important questions on Funding innovation and managing innovation
What is the definition of the Oxford English dictionary of Entrepreneur?
'' a person who attempts to profit by risk and initiative'''
What do Entrepreneurs do? according to different authors
- Organiser of production
- Risk taker
- Creator of new products
- possesion of certain personality traits
- Alert to business opportunies
- entrepreneurship process
What are the features of technical Entrepreneurs?
- The founders of the company have been affiliated with the source of technology before establishing the company
- The business idea of the company is essentially based on exploiting advanced technological knowledge developed or acquired
in a source of technology
- The company is independent
- The company is entrepreneurial, that is, it is controlled and managed by an entrepreneur or group of entrepreneurs
- Higher grades + faster learning
- Never study anything twice
- 100% sure, 100% understanding
Where do technical entrepreneurs come from?
Researcher
Producer
User
Opportunist
What factors affect new venture formation?
Antecedent; personality/home context/background
Parental experience; work environment/institutional support
Environmental factors; technology/markets
How can you describe the technology/market taxonomy?
Technical innovators ( high novelty of technology, low novelty of market)
Application innovators (low novelty of technology and established market)
Market innovators (low novelty of technology, high novelty of market)
Paradigm innovators ( high novelty of technology emerging markets
Describe the typology of the different markets & technology
Application innovator ( uses existing technology to produce complementary products)
Market innovator (develop new markets with existing technologies)
Technology innovator (New technologies used in new products sold in established markets)
Paradigm innovators (new technologies, new products and new markets)
What are the drivers of technological Entrepreneurship?
- Diffusion of knowledge
- Employee mobility
- Institutional support
- Access to venture capital
- Open Innovation
- Nature of new technologies
- Role models
What characterizes the early stages of innovation?
Negative cashflow
Uncertainty about extent of negative cashflow
Uncertainty about when the project will breakeven
Lack of track record agianst which to borrow
Unwillingness of financial institutions to lend
What are the sources of Funding? What relation can be identified in the graph
level of funding, growth of new technology based firms
Full listing, AIM, Venture Capitalists, corporate venturing, business angels, banks, smart, bootstrapping, F, F&F
What is the definition of financial bootstrapping?>
Using creative ways of acquiring finance without recourse to banks or raising equity from traditional sources
minimising or eliminating the need for finance by securing resources at little or no cost
What is a business angel?
High net worth individuals seeking captial games ovver the life of their investment in a company
sometimes called informal investors
aim to invest near start up and harvest as the business matures making a capital gain
Who needs business angels?
- Early stage and growing business with insufficient captial of their own to lever the right mix of other funding
- Young companies requiring amounts of equity investment too small to interest mainstream venture captialists
- Growing businesses who recognise the need to strengthen their board or management team to sustain succesfull development.
How is corporate venturing described in a recent report?
A 'formal, direct relationship, usually between a larger and an independent smaller company, in which both contribute financial, management or technical resources, sharing rewards equally for mutual growth.
What are the characteristics of venture capitalists?
- Borrow from institutional investors
- Aim for capital gain
- Act as intermediaries
- VC's expertise lies in evaluating the risks & growth potential of companies they back
- UK venture capital market is the largest in Europe
What is the aim of alternative investment market?
Is aimed at meeting the needs of smaller companies (especially ones that are technology based)
What are the five steps in project management?
1) Determine the goals
2) Identify the tasks or activities to be undertaken
3) Estimate the duration of the activities/tasks
4) Determine the sequence in which the activities/tasks have to be completede and link them into the overall model of the
project
5) Develop a project plan that provides an overall schedule for the project
What is the developemtn funnel
Ideas are in, develop idea to prove principle
Develop idea to prove marketability
Develop idea into product module to prove manufacturability
New product development
The question on the page originate from the summary of the following study material:
- A unique study and practice tool
- Never study anything twice again
- Get the grades you hope for
- 100% sure, 100% understanding
![Trustpilot Logo](/images/design_2020/lp/clp-trustpilot-en.png)