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Insight and Best Practices in Biotechnology Commercialisation

Onyeka, C.J.

Reid, P
Successful commercialisation of academic research is of great importance to the development of a strong economy and subsequent re-investment in skills and infrastructure. The biological and medical sciences area has been shown to contribute a significant proportion of global research and development expenditure resulting in a high level of activity and competition amongst researchers to commercialise their work. This article reviews best practice in commercialisation and presents a model which will inform those seeking to improve the prospects for commercial success.

Fairness Norms and Self-interest in Venture Capital/Entrepreneur Contracting and Performance

Fairchild, R
We consider the combined impact of agency problems and behavioural factors on venture capital/entrepreneur contracting and performance. Particularly, we develop a behavioural game-theoretic model in which a venture capitalist and an entrepreneur negotiate over their respective equity shares, and then exert value-adding efforts in running the business. Double-sided moral hazard exists in that both parties may exert sub-optimal effort (the ‘shirking’ problem). We demonstrate that, for a given level of VC-ability, an increase in social fairness norms induces the VC to offer more equity to the entrepreneur, which in turn induces the entrepreneur to exert more effort. This improves venture performance.

Nascent Entrepreneurs' Priorities on Growth: The Surprising Similarity of Women and Men

Lynnette Claire
Most extant research shows that female entrepreneurs are less likely to grow large firms and, in fact, don’t want to grow their firms as large as male entrepreneurs do. This study of 191 nascent entrepreneurs finds that neither men nor women entrepreneurs consider firm growth a top priority for their emerging firms. These a priori ideas about growth and firm success are an important contribution to the investigation of gender differences towards entrepreneurial firm growth. Implications of these findings for policy makers and entrepreneurial assistance organizations are explored.

Fostering Women's Entrepreneurial Leadership in Family Firms: Ten Lessons

Mary Barrett

Ken Moores
Women’s potential to lead a firm – whether one started by a family member or a new venture of their own – is still not often enough acknowledged. With family firms acknowledged as the seeding grounds for the next generation of entrepreneurs, and with increasing attention in research and public policy to women’s entrepreneurship, it is important to understand the factors in family firms which help and hinder their women members’ leadership and entrepreneurship potential. This article, based on the authors’ book Women in Family Business Leadership Roles: Daughters on the Stage (Edward Elgar, 2009), presents ten lessons for family firms which arise from the experience of women in family firms.

Creativity and the Practical Innovation Process, a Driver of Competitive Advantage

Patrick M Reid

David Oliver
This article reviews the relationship between creativity and innovation. It includes practical behaviours and techniques which can support creativity in the workplace. The need for organisations to become more innovative in the way they develop products and services has never been more important. In competitive and challenging business environments the ability to find new products and better, quicker and smarter ways of working can make the difference between success and failure. Lying at the heart of the innovation process is creativity. Without creativity, innovation and entrepreneurship would not be possible. The problem is, creativity and the workplace often don’t mix, so how do you develop an innovation process that truly harnesses and exploits creative thinking?

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