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Start-Up Commercialisation Strategy and Innovative Dynamics

Start-Up Commercialisation Strategy and Innovative Dynamics

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Published by Joshua Gans
Joshua Gans "Start-Up Commercialisation Strategy and Innovative Dynamics," International Industrial Organization Conference, Savannah (GA), 14th April, 2007
Joshua Gans "Start-Up Commercialisation Strategy and Innovative Dynamics," International Industrial Organization Conference, Savannah (GA), 14th April, 2007

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Published by: Joshua Gans on Jan 18, 2010
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01/24/2010

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Start-Up CommercialisationStrategy and InnovativeDynamics
Joshua GansUniversity of MelbourneIIOC, April 2007
 
Sources of Entrepreneurial Rents
Cooperation withestablished firmsCompetition withestablished firmsSource: Thomson Venture/NVCA
 
Longevity of Entrepreneurial Influence
Static rationale for cooperative commercialisation is strong
 – 
Avoid duplication of complementary assets
 – 
Soften product market competition
Informal strategic concern (esp in teaching cases):
 –EMI & the CT Scanner: “licensing would be … „selling our birthright.‟
 –Nucleon: licensing was viewed as „mortgaging away‟ the company‟s future.
 – 
Ecton:
“Cannon was also concerned about the impact that an acquisition might have on Ecton‟s productdevelopment process…. The Ecton founders were worried that if their company were absorbed into a larger 
organization after acquisition, their development efforts for next-
generation products would get mired … Perhaps, they
reasoned, their efforts would be more successful in the long run if they remained independent until they had a refined
 product development process that might survive acquisition and integration.”
 – 
Symantec:entrepreneurs seen as a casualty of the acquisition
Informal economic reaction:
 – 
No problem. Then, start-
up should build future losses into the „price‟
Formal evaluation
 – 
Requires a dynamic model of successive innovation

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