1. Centre for Applied
Research and
Development in
Business
Globalisation
6th Annual Conference
of the
Academy of Innovation and Entrepreneurship
Technology and Management for Development
(TMD) Centre, University of Oxford
National Entrepreneurship Research Centre,
Tsinghua University
Research Centre for Technological Innovation,
Tsinghua University
Annual Conference of the Academy of Innovation and Entrepreneurship
Oxford, UK , August 29 - 30 2013
Stumbling
Blocks of
Born Globals

2. Centre for Applied
Research and
Development in
Business
Globalisation
Stumbling
Blocks
of
Born Globals
Annual Conference of the Academy of Innovation and Entrepreneurship
Oxford, UK , August 29 - 30 2013

3. Indtryk under to hovedoverskrifter
Centre for Applied
Research and
Development in
Business
Globalisation
1. Den globale dagsorden drejer sig
(også) om innovation og
iværksætteri
• Vægten ligger forskelligt
•
Udviklingslande
•
De gamle industrilande
•
Kina
2. Fortsat udvikling i
analyseredskaber og
analysekvalitet
Stumbling
Blocks of
Born Globals
Annual Conference of the Academy of Innovation and Entrepreneurship
Oxford, UK , August 29 - 30 2013

4. Dennye dagsorden:
Innovation og iværksætteri
Stumbling
Blocks of
Born Globals
Annual Conference of the Academy of Innovation and Entrepreneurship
Oxford, UK , August 29 - 30 2013
Centre for Applied
Research and
Development in
Business
Globalisation

5. Innovation og iværksætteri
For udviklingslandene
Centre for Applied
Research and
Development in
Business
Globalisation
• Inklusiv innovation
– overtager CSR
• Ændringer i politikker og deres effekt på
innovation
• Udvikling på bunden af pyramiden.
• ”Upgrading” af virksomheder
• Effekt af produktinnovation, modifikation eller
procesforbedring
• Regering og universiteters rolle i transfer af
teknologi
Stumbling
Blocks of
Born Globals
Annual Conference of the Academy of Innovation and Entrepreneurship
Oxford, UK , August 29 - 30 2013

6. De gamle industrilandes
Innovation og iværksætteri
Centre for Applied
Research and
Development in
Business
Globalisation
• Strategisk profil og innovationsevne
• Hvilke investorer(VC, CVC, mv), der har værdi
hvornår i en ny virksomheds livscyklus
• Om radikal innovation eller småinnovation
belønnes med lønsomhed og vækst
• Om forskningsstøtte, projekter med universiteter
oversættes til innovation
• Social kapital og graden af innovation
Stumbling
Blocks of
Born Globals
Annual Conference of the Academy of Innovation and Entrepreneurship
Oxford, UK , August 29 - 30 2013

7. Innovation og iværksætteri
Kina
Centre for Applied
Research and
Development in
Business
Globalisation
Stumbling
Blocks of
Born Globals
• De store investeringer i R&D viser resultater i
patenter og artikler, men ikke i innovation
• Effekten af Joint Ventures, ansættelser af forskere
og ansættelser af udenlandske eksperter,
ejerskab, ledelsesprofiler
• Væksthæmmere i form af korruption,
uhæderlighed og uforudsigelighed
• Innovation i servicevirksomheder
• Klyngeudvikling
• Børsnoteringer i USA
• Opkøb i Europa
Annual Conference of the Academy of Innovation and Entrepreneurship
Oxford, UK , August 29 - 30 2013

8. Fortsat udvikling i analyseredskaber
og analysekvalitet
Centre for Applied
Research and
Development in
Business
Globalisation
•
•
•
•
•
Komparativ kvalitativ caseanalyse
Semantisk analyse af store dokumentmængder
Tidsserier
Sammenlignende statistikker
Statistik og data fra udviklingslande
Stumbling
Blocks of
Born Globals
Annual Conference of the Academy of Innovation and Entrepreneurship
Oxford, UK , August 29 - 30 2013

9. Reflektion
• Der er etableret megen ny viden om
innovation
– virksomhedsniveau
– brancheniveau
– region, nationalt
• Viden i form af
– Sammenhænge mellem vækst
og innovation
– Iværksættere og vækst
– Effekt af udviklingshjælp
Stumbling
Blocks of
Born Globals
Annual Conference of the Academy of Innovation and Entrepreneurship
Oxford, UK , August 29 - 30 2013
Centre for Applied
Research and
Development in
Business
Globalisation

10. Centre for Applied
Research and
Development in
Business
Globalisation
Stumbling
Blocks of
Born Globals
Annual Conference of the Academy of Innovation and Entrepreneurship
Oxford, UK , August 29 - 30 2013

11. Contents
1.
2.
3.
4.
5.
The research field Born Globals
Key question in the study
The study
Findings
Implications
Stumbling
Blocks of
Born Globals
Annual Conference of the Academy of Innovation and Entrepreneurship
Oxford, UK , August 29 - 30 2013
Centre for Applied
Research and
Development in
Business
Globalisation

12. 1. The Research Field
Born Globals (BG)
International New Ventures (INV)
Centre for Applied
Research and
Development in
Business
Globalisation
”Searching for a formula for success”
Founders/
Manager’s
International Profile
Moderators
Performance
Rask og Servais (2012)
Stumbling
Blocks of
Born Globals
Annual Conference of the Academy of Innovation and Entrepreneurship
Oxford, UK , August 29 - 30 2013

13. 2. Key Question
Centre for Applied
Research and
Development in
Business
Globalisation
What are the strenuous issues in the
the first years of operation?
Stumbling
Blocks of
Born Globals
Annual Conference of the Academy of Innovation and Entrepreneurship
Oxford, UK , August 29 - 30 2013

14. The study
Business
V1
Genetic analysis Applied
Centre for
Research and
V2
V3
Stumbling
Blocks of
Born Globals
Equipment for research
V5
Equipment for analysis
V6
Consumables
V7
Genetic analysis
V8
Genetic analysis
V9
Research methodology
V10
System for training
Equipment for allocation of medicine
Rehabilitation equipment
V13
Financial analysis
Qualitative interviews
Timeline
Identification of stumbling blocks
V4
V12
•
•
•
•
Globalisation
Equipment for the OP room
V11
• Suppliers to health sector
• Recruited by snowballing
• Born globals
• Business-to-Business
Rehabilitation Development in
equipment
Protein analysis
V14
Equipment for analysis
V15
Genetic analysis
Business
Annual Conference of the Academy of Innovation and Entrepreneurship
Oxford, UK , August 29 - 30 2013

15. 3. Findings; 11 Stumbling Blocks
Centre for Applied
Research and
Development in
Business
Globalisation
Finance
Understanding the customer organization
Selection of marketing variables
Access to users
Suppliers
IP rights
Product development
Delivery process
Market entry mode
Recruitment
Organizational structure
Stumbling
Stones for
Blocks of
Born Globals
Annual Conference of the Academy of Innovation and Entrepreneurship
Oxford, UK , August 29 - 30 2013

16. Positive
return on
investment
7
External
3
Bootstrapping
V3
5
Bootstrapping
Yes
V4
12
External
Yes
V5
4
Bootstrapping
Yes
V6
4
BootstrapExternal
Not realized
2
External
Liquidated
V8
2
External
Not realized
V9
3
External
Not realized
V10
4
External
Not realized
V11
6
External
Not realized
V12
0
None
Not realized
V13
Stumbling
Blocks of
Born Globals
V1
V7
• A number of
perfoming Born
Globals were
bootstrapping
Financial
investment
V2
Stumbling block 1
Finance
Years of
financial
reporting
5
Bootstrapping
Yes
V14
3
External
Yes
V15
16
External
Yes
Annual Conference of the Academy of Innovation and Entrepreneurship
Oxford, UK , August 29 - 30 2013
Centre for Applied
Not realized
Research and
Development in
Not
Business realized
Globalisation

17. Understanding
the customer
organization
V1
V2
Globalisation
3
3-5
V4
1
2
V5
3
3-5
V6
2
4
V7
Unknown
Unknown
V8
1
2
V9
3
4-5
V10
1
2-3
V11
2
3-4
V12
2
4-5
V13
Stumbling
Blocks of
Born Globals
2
V3
• Complicated
purchase
processes
• Time to learn
Number of
professions
involved in use
and purchase
1-2
Number of
organizational units
involved in purchase
Centre for Applied
and useand
Research
Development in
2
Business
1
2
V14
2
3-5
V15
1-2
2-3
Annual Conference of the Academy of Innovation and Entrepreneurship
Oxford, UK , August 29 - 30 2013
3

18. Selecting
marketing
variables
Original
target group
changed
Several
Experiexperiments with
ments in
sales
Centre for Applied
marketing
channels
V2
Yes
Yes
Research and
Sequential
Development in
Business
Globalisation parallel
Several
V3
No
No
Several parallel
V4
No
No
Sequential
V5
No
No
Several parallel
To some extent
Yes
Sequential
V7
To some extent
Yes
Sequential
V8
To some extent
To some
extent
Sequential
V9
Yes
Yes
Sequential
V10
Yes
Yes
Several parallel
V11
To some extent
Yes
Sequential
V12
No
Yes
Sequential
V13
Stumbling
Blocks of
Born Globals
Yes
V6
• Changes
• Experiments
V1
Yes
No
To some
extent
Sequential
V14
No
No
Sequential
V15
No
No
Sequential
Annual Conference of the Academy of Innovation and Entrepreneurship
Oxford, UK , August 29 - 30 2013

19. 3. Findings; 11 Stumbling Stones
Centre for Applied
Research and
Development in
Business
Globalisation
Finance
Understanding the customer organization
Selection of marketing variables
Access to users
Suppliers
IP rights
Product development
Delivery process
Market entry mode
Recruitment
Organizational structure
Stumbling
Stones for
Blocks of
Born Globals
Annual Conference of the Academy of Innovation and Entrepreneurship
Oxford, UK , August 29 - 30 2013

20. 4. Implications:
”Formula for success” must include:
Centre for Applied
Research and
Development in
Business
Globalisation
• Time and resources
• Experiments in marketing
• Effective logics versus predictive logics (Dew et
al., 2009)
Stumbling
Blocks of
Born Globals
Annual Conference of the Academy of Innovation and Entrepreneurship
Oxford, UK , August 29 - 30 2013

21. Thank you,
Centre for Applied
Research and
Development in
Business
Globalisation
Stumbling
Blocks of
Born Globals
Annual Conference of the Academy of Innovation and Entrepreneurship
Oxford, UK , August 29 - 30 2013

22. 3. Findings; 11 Stumbling Stones
Centre for Applied
Research and
Development in
Business
Globalisation
Finance
Understanding the customer organization
Selection of marketing variables
Access to users
Suppliers
IP rights
Product development
Delivery process
Market entry mode
Recruitment
Organizational structure
Stumbling
Stones for
Blocks of
Born Globals
Annual Conference of the Academy of Innovation and Entrepreneurship
Oxford, UK , August 29 - 30 2013