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Connectivity-based Regional Development
Elin M. Oftedal and Lene Foss
This chapter discusses how responsible start-ups are met in the health sector. Through following three companies, Voco, Cora and Medicus, we acquire insight into the world of challenges the entrepreneurs have when they introduce their technology/service to the healthcare sector. Using institutional theory, we look at the regulative, normative and cognitive dimension of the institutional framework. We use the term ‘institutional wall’ to denote a dense network of formal laws and regulation, informal norms and knowledge and beliefs that act as barriers for the entrepreneurs to access the market. We find that while there is a positive development in the regulative dimension: both the regulative and the normative dimension are set up to favour larger companies. The founders’ responses to the cognitive dimension indicate a lack of belief in Norwegian technology and thus tough access to finance.
Empowering the Patient
Edited by Tatiana Iakovleva, Elin M. Oftedal and John Bessant
Albert N. Link
This paper presents descriptive findings from 12 case studies of Small Business Innovation Research (SBIR) award recipients in southeastern states. The focus of the case studies was to determine, to the extent possible, if the Fast Track Initiative encourages more rapid commercialization of research results through the acquisition of private investment capital, and if Fast Track projects progress more rapidly than standard SBIR awards.
John T. Scott
This paper provides case studies for 14 research and development projects funded in 13 New England companies by the Department of Defense Small Business Innovation Research (SBIR) program. The performance of the six Fast Track projects, each conducted by a different company, is compared with the performance of eight non-Fast Track projects.
John T. Scott
The purpose of this article is to propose a mechanism – the hurdle-lowering auction – for leveraging the public funds invested in public/private partnerships to promote technology. The article addresses financial engineering – the optimal amount and design of public funding of privately performed investments in technology and innovation carried out by public/private partnerships. Public/private partnerships are joint research ventures combining public and private resources to invest in the research and development of technology and innovations. Thus, financial engineering concerns the design of mechanisms for public funding of public/private partnerships that generate the maximum leverage of the public funds on the private investment and performance. By maximum leverage of public funding, is meant maximum effectiveness of the funds in ensuring the use of the least amount of public funds to get the desired results and ensuring the necessary incentives to get those results given the appropriate amount of public funding.