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Universität Bremen
Fachbereich WirtschaftswissenschaftNachhaltiges ManagementProf. Dr. Georg Müller-Christ
DIPLOMARBEITThe Gatekeeper-Model of Innovation
An Integrative Framework forEntrepreneurs and Venture Capitalists
ByROBERT HINSCHMatrikelnummer: 1975707December 18, 2009
 
i
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2009
 
Robert
 
Hinsch
 
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ii
Contents
 
LIST
 
OF
 
FIGURES
 
.............................................................................................................
 
iv
 
LIST
 
OF
 
TABLES
 
...............................................................................................................
 
v
 
LIST
 
OF
 
ABBREVOATIONS
 
..........................................................................................
 
vi
 
PART
 
I
 
CHAPTER
 
1:
 
INTRODUCTION
 
.....................................................................................
 
2
 
1.1
 
Context
 
and
 
Relevance
 
................................................................................
 
2
 
1.2
 
Objective
 
of
 
the
 
Study
 
..................................................................................
 
5
 
PART
 
II
 
CHAPTER
 
2:
 
THE
 
INNOVATION
 
PROCESS
 
.............................................................
 
8
 
2.1
 
Entrepreneurship
 
and
 
the
 
Diffusion
 
of
 
Innovation
 
.................................
 
8
 
2.2
 
Systems
 
Model
 
of
 
Innovation
 
 by
 
Csikszentmihalyi
 
................................
 
13
 
2.3
 
Investors
 
in
 
Innovation
 
and
 
Risk
Taking
 
..................................................
 
16
 
2.4
 
The
 
Venture
 
Capital
 
Business
 
.....................................................................
 
19
 
2.5
 
Critical
 
Summary
 
and
 
Conclusions
 
...........................................................
 
26
 
CHAPTER
 
3:
 
STRATEGY
 
DIMENSION
 
......................................................................
 
27
 
3.1
 
Strategic
 
Considerations
 
of
 
Venture
 
Capitalists
 
.......................................
 
27
 
3.2
 
Strategic
 
Resources
 
Approaches
 
.................................................................
 
27
 
3.2.1
 
Sustainable
 
Competitive
 
Advantage
 
...............................................
 
27
 
3.2.2
 
Resource
 
Dependence
 
Approach
 
.....................................................
 
30
 
3.3
 
Sustainable
 
Resource
 
Management
 
..........................................................
 
31
 
3.4
 
Paradox
 
Management
 
.................................................................................
 
34
 
3.5
 
Critical
 
Summary
 
and
 
Conclusions
 
..........................................................
 
36
 
CHAPTER
 
4:
 
THE
 
TRUST
 
PERSPECTIVE
 
...................................................................
 
38
 
4.1
 
Trust
 
as
 
a
 
Concept
 
.......................................................................................
 
38
 
4.2
 
Models
 
of
 
Trust
Building
 
...........................................................................
 
44
 
4.3
 
Trust
Control
 
Duality
 
.................................................................................
 
45
 
4.4
 
Levels
 
of
 
Trust
 
..............................................................................................
 
47
 
4.5
 
Critical
 
Summary
 
and
 
Conclusions
 
..........................................................
 
48
 
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