Zoltán J. Ács and Siri Terjesen
Siri Terjesen and Colm O’Gorman
Siri Terjesen and Hezun Li
This chapter reviews American University Center for Innovation (AUCI)’s award-winning curriculum, incubator, research, and other programming. AUCI curricula include general education courses, as well as an undergraduate minor and specialization and graduate specialization and certificate, available to students across campus. The AUCI Incubator helps students and recently graduated alumni develop and stabilize early-stage ventures. AUCI’s impactful research and thought leadership focuses on entrepreneurship theory, practice, and pedagogy. AUCI maintains a broad range of strategic partnerships with local, national, and foreign governments, public and private corporations, non-profits, and think tanks. The chapter concludes with a discussion of AUCI’s historical roots and connection to local and global communities.
Siri Terjesen and Regina-Viola Frey
Zoltan J. Acs and Siri Terjesen
This entry outlines Acs and Terjesen’s (2008) theory of intermediated internationalization and offers suggestions for future research. Intermediated internationalization is ‘the channeling of a venture’s innovation through an existing multinational enterprise, located at home or abroad’ (Acs and Terjesen, 2008: 1). of resources and the sale of goods in multiple countries and are discussed by Ben Oviatt in this encyclopedia. When considering international markets for their goods and services, entrepreneurs face a variety of entry modes including export, license, joint venture, wholly owned subsidiary and greenfield investment. In the case of exporting, firms have two channel options: (1) export directly to customers abroad or (2) export indirectly through an intermediary (Peng and York, 2001). Direct exporting is a common path to internationalization and is well addressed in the extant literature. The direct mode leads to the international new venture, however it is not always optimal given new venture’s high trade barriers abroad, low levels of innovation, predominant focus on domestic niches and lack of necessary financial capital, information and ability to protect property rights abroad. Faced with these barriers, new ventures may choose the second path, intermediating their innovation through an established multinational enterprise. This process creates a feedback mechanism from new ventures to existing organizations, as new ventures become a part of existing multinationals’ supply chains. Supply chain management takes place through formal and informal governance structures. The new venture’s decision to pursue direct or intermediated paths to internationalization is based on an assessment of the costs of property rights protection, transactions and rent extraction.