Ferran Giones and Alexander Brem
These days, crowdfunding has become an established tool for entrepreneurial financing. Beyond that, it has also established a new method of innovation marketing, especially for high-tech products: using crowdfunding to find out if there is a market for the product. However, this possibility requires the tailoring of entrepreneurial commercialization strategies for crowdfunding platforms as product markets. This chapter offers insights into crowdfunding behavior, and how technology entrepreneurs can make use of it. For this, a market theory perspective is taken on crowdfunding platforms, with implications for theory and practice.
Ferran Giones, Kerem Gurses and Alexander Brem
Technological innovations open opportunities for new entrants (techno-entrepreneurs) to transform and recreate industries, as they come as so-called innovation shocks. These shocks can change technology trajectories and make irrelevant existing regulatory frameworks. It is unclear, however, what the interplay between technology evolution, entrepreneurship, and regulation is. We explore the case of the emergence of the drone industry to extract insights on how different profiles of new entrants respond to distinct regulatory frameworks, aiming to decipher the effect that those regulatory frameworks have on the exploration and development of new tech-based innovation opportunities. Our findings suggest that more attention should be given to the impact that regulatory responses can have on the short- and long-term development of emerging technological fields. We propose a process framework to make sense of the possible outcomes of distinct regulatory responses, elaborating on the consequences they have on entrepreneurial activity and overall market growth.
Oliver Straub, Peter M. Bican and Alexander Brem
Prior literature analyzed why incubators exist and how to differentiate the various incubator types. However, measures that lead incubators to run as independent, self-sufficient incubation ecosystems (i.e. without the dependence on subsidies) remain largely absent. Based on a survey of 71 incubators, our results implied differences between the two groups in regard to their business models, with indications of significant differences in the customer value proposition, the profit formula, as well as the key resources and processes provided. The findings support previous claims regarding the need for a profit driven nature, regardless of business profit orientation, as well as generating diverse income streams to cover operational costs. Moreover, new insights on key elements of incubators’ business models within start-up incubation ecosystems are presented. With this chapter, practitioners as well as researchers will gain further understanding of the success factors of self-sufficient incubators that contribute to functioning incubation ecosystems.