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Keywords
A higher degree of digitalization in new ventures’ product/service offerings and their processes can lead to a faster time to market and the ability to rapidly scale. Hence, it has the possibility to significantly impact the performance. To increase the degree of digitalization in new ventures, they can implement a digital strategy. Currently there is no evidence if this measure has a strong impact on the degree of digitalization. We therefore empirically investigate the influence of a digital strategy on the degree of digitalization in new ventures’ products/services and processes. We analyzed 102 new ventures using SEM. Building on the contingency theory, we show that only having a digital strategy is insufficient to achieve a high degree of digitalization. The digitalization of products/services is partially mediated by digital IT capabilities, and the effect of digital strategy on process digitalization is partially mediated by digital IT capabilities and a digital culture.
Digital new ventures
(2020)
Innovation is an important value lever, especially within small- and medium-sized companies. However, little research has examined its influence within the investment process of equity investment funds – a surprising circumstance since innovation could increase an investment’s value. This study provides insights into equity investment funds’ perspective on innovation throughout the various phases of the investment process. We conducted in-depth interviews with investment professionals from 30 German-based equity investment funds. Our results show that innovation’s importance depends on the strategic orientation of the equity investment fund type. In addition, our study provides an overview of the criteria, methods, and mechanisms equity investment funds use to support innovation. We show that the emphasis of many equity investment funds on innovation during the identification of investment targets is not reflected in the measures the fund later employs to support innovation processes within the portfolio company. This indicates potential for equity investment funds to be more actively involved in the supervision and management of innovation activities of their portfolio companies. Keywords: Venture capital, corporate venture capital, private equity, family offices, innovation, investment strategy
Digital Entrepreneurship
(2020)
Das Projekt GISBERT - Gründungen in die Spitzencluster BioEconomy Region transportieren - unterstützte die Etablierung von Gründungsförderungsaktivitäten durch die Verzahnung der Gründungs- und Innovationsstrukturen in der Region des BioEconomy Clusters Mitteldeutschland sowie die Identifizierung und Sensibilisierung potentieller Gründer im Bereich Bioökonomie und deren Unterstützung bei der Entwicklung geeigneter Geschäftsmodelle und Startups. Das Projekt wurde vom Bundesministerium für Bildung und Forschung (BMBF, FKZ 031B0049) gefördert und federführend durch die HHL Leipzig Graduate School of Management sowie durch die BioEconomy Cluster Management GmbH koordiniert. In dem Projekt wurden Gründungs- und Ausgründungsvorhaben mit biobasierten Geschäftsmodellen durch vielfältige Dienstleistungen und ein weit verzweigtes Partnernetzwerk unterstützt.
Showcasing needmining (the semi-automatic extraction of customer needs from social media data) with Twitter data. It uses the handling of the Twitter API provided bythe package 'rtweet' and the textmining algorithms provided by the package. Niklas Kuehl (2016) (DOI 10.1007/978-3-319-32689-4_14) wrote an introduction to the topic of needmining.
The importance of innovation in healthcare has increased within the last decades as challenges, like rising costs and an aging demographic, have to be solved. The degree of innovativeness in healthcare is strongly influenced by the National Health Innovation System, which as a sectoral innovation system encompasses a wide variety of actors and related knowledge. Despite the highly practical relevance of the topic, there are only a few studies that analyze innovation in healthcare on a national level. Thus, this study is a starting point and, building on the theoretical framework of national innovation systems, answers the following questions: “Can countries be grouped by their innovation output in healthcare and do those groups differ in factors describing the healthcare system? Do countries with strong national innovation systems also have strong national health innovation systems and vice versa?” We compare the healthcare innovation output of 30 OECD countries using a multi-indicator approach and categorize them into four distinct groups using cluster analysis. The cluster consisting of the Scandinavian countries, the Netherlands and Switzerland shows the highest innovation output measured in knowledge production and knowledge commercialization. Surprisingly, these countries, with the exception of Switzerland, only rank in the medium group when considering the entire national innovation system. Policymakers and researchers might be particularly interested in studying the healthcare systems of these countries.
Partial least squares structural equation modeling (PLS-SEM) has become a key method in international marketing research. Users of PLS-SEM have, however, largely overlooked the issue of endogeneity, which has become an integral component of regression analysis applications. This lack of attention is surprising because the PLS-SEM method is grounded in regression analysis, for which numerous approaches for handling endogeneity have been proposed. To identify and treat endogeneity, and create awareness of how to deal with this issue, this study introduces a systematic procedure that translates control variables, instrumental variables, and Gaussian copulas into a PLS-SEM framework. We illustrate the procedure’s efficacy by means of empirical data and offer recommendations to guide international marketing researchers on how to effectively address endogeneity concerns in their PLS-SEM analyses.