Synopses & Reviews
The number of students who wish to learn about entrepreneurship and actively engage in entrepreneurial activities - either by creating their own companies or by spurring innovation within a large organization - has grown greatly in recent years. Motivating engineers and scientists to become entrepreneurial has particular appeal in light of the abundance of technological knowledge that lurks hidden in today's research institutes and technology-based enterprises, waiting for commercialization. However the expanding number of teaching programs fail to address the particular challenges and opportunities or starting up viable businesses based on science and engineering. Nurturing Science-based Ventures: An International Case Perspective presents case studies of more than 30 businesses in scientific fields such as biotechnology, biomedicine, high-tech engineering and information technology. The case studies are arranged in modules tracking the typical life cycle of creating and growing new ventures. The book is a value-adding teaching device that will greatly enhance the learning experience of future high-tech entrepreneurs. The case studies will also foster a general appreciation of technological venturing among current and future business leaders. Module topics include recognizing and evaluating opportunities, creating viable business plans, securing financial resources, managing growth and eventually harvesting the value created. The view of large firms is also taken into account, with studies on corporate entrepreneurship and the integration of internal and external knowledge to successfully seize business opportunities. Each module of the book is completed by a topic primer and a concluding summary of key learning points. Case studies include: Google, Logitech, adidas, Ducati, EndoArt, 4M Technologies, Novartis and Nespresso and many more university spin-offs and new start-up enterprises.P>
Review
From the reviews: "The challenge is to nurture entrepreneurial skills and ambitions in science and engineering academic students in the hope that they will consider the starting of a new business based on their research as a compelling alternative to more traditional employment opportunities. The book by Seifert, Leleux and Tucci addresses this challenge. ... designed as a teaching support for courses on science-based entrepreneurship and it primarily targets engineering and science students. ... designed to help students explore the most relevant issues in science-based start-ups." (Luca Iandoli, International Small Business Journal, Vol. 27 (5), November, 2009) "The book focuses on science based ventures that originate in technological break throughs, but entrepreneurs from all backgrounds can learn from it. Nurturing Science-Based Ventures charts the development of a new venture through five chapters ... . provides a useful text to accompany teaching. ... accessible reference work for managers in knowledge-based industries, entrepreneurs from all business sectors, and stakeholders in business incubation processes. ... It would add value to postgraduate reading lists ... ." (Simon Stephens, The International Journal of Entrepreneurship and Innovation, Vol. 11 (3), 2010)
Synopsis
Few would deny that small entrepreneurial firms play an important economic and social role. Not only do they generate a significant number of jobs but they also contribute a large proportion of gross national product (GNP). Not all small firms qualify as entrepreneurial entities, however. While small refers mostly to size, entrepreneurial refers to growth and a value-creation orientation. The vast - jority of small firms have no growth aspirations, nor do they have the means and skills to grow. As such, they may still provide employment and local value but would not embrace the high-potential aspirations of entrepreneurial ventures. This book clearly addresses those entrepreneurs who are interested in leading hi- growth-potential companies (Table 1). Table 1 Growth Typology of Small Firms 1] Type of venture Desired sales range Future employees Lifestyle 0 to $1 million 0 to 4 Smaller high potential $1 million to $20 million 5 to 50 High potential over $20 million Over 50 High-innovation technology-based startups assume a very special role in hi- growth entrepreneurship. Although these startups constitute a comparatively low number of small businesses, they produce proportionately far more jobs than their low- and medium-innovation counterparts. The aim of achieving rapid growth is typically referred to as high-expectation entrepreneurship. An area of major con- 1 cern to us is a fact revealed in the latest GEM report: The rate of European hi- expectation entrepreneurial activity is among the lowest in the world."
Synopsis
This book includes over 30 real-life, up-to-date, award-winning case studies in scientific fields such as biotechnology, biomedicine, high-tech engineering and information technology. The case studies are arranged in modules that track the typical life cycle of creating and growing a new venture, which presents a comprehensive picture of entrepreneurial activities. The text is written in a language and style that managers will appreciate.
About the Author
Ralf W. Seifert holds a dual appointment as Professor of Operations Management at IMD and Professor of Technology & Operations Management at Ecole Polytechnique Fédérale de Lausanne (EPFL). Professor Seifert is also Director of the Mastering Technology Enterprise (MTE) program, a six-week management development program for technically trained managers. Since 1995, the MTE program has been jointly offered by the Alliance for Technology-based Enterprise formed by IMD, EPFL and ETH Zurich. His primary research and teaching interests relate to supply chain management, technology network management and entrepreneurship. Benoît Leleux is the Stephan Schmidheiny Professor of Entrepreneurship and Finance at IMD. He is a specialist in venture financing, combining expertise in entrepreneurship, venture capital, private equity and growth management. His experience includes four years of corporate venturing in Southeast Asia for a major agribusiness conglomerate. He is active in a number of private equity funds, as well as numerous start-up companies in Europe and the US, as director, investor and/or advisor. He is also a co-founder of Venture Growth Strategies LLC, a Boston-based consulting company specializing in corporate venturing and early-stage private equity investments. Christopher L. Tucci is Professor of Management of Technology at the Ecole Polytechnique Fédérale de Lausanne (EPFL). Professor Tucci joined EPFL in 2003. Prior to EPFL, he was on the faculty of New York University where he taught Technological Innovation & New Product Development, Foundations of Entrepreneurship, Business Policy & Strategy, and Competitive Advantage from Operations in the MBA program. He has also taught strategic management at MIT, and has taught a global strategy module for engineering managers in the Tufts University Gordon Institute.
Table of Contents
Opportunity Recognition Planning the New Venture Venture Financing Growing the Entrepreneurial Firm: Building Lasting Success Harvesting Corporate Entrepreneurship