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Start-Up Commercialisation Strategy and Innovative Dynamics NBER Conference

Start-Up Commercialisation Strategy and Innovative Dynamics NBER Conference

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Published by Joshua Gans
Joshua Gans, "Start-Up Commercialisation Strategy and Innovative Dynamics," NBER Entrepreneurship Pre-Conference, Chicago, 7 January, 2007
Joshua Gans, "Start-Up Commercialisation Strategy and Innovative Dynamics," NBER Entrepreneurship Pre-Conference, Chicago, 7 January, 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 Commercialisation Strategyand Innovative Dynamics
Joshua GansMBS/IPRIA, University of Melbourne NBER Entrepreneurship Pre-ConferenceChicago, 7
th
January 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 product development 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 productdevelopment 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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