90 results found
De Cuyper L, Clarysse B, Phillips N, 2020, Imprinting beyond the founding phase: how sedimented imprints develop over time, Organization Science, Vol: 33, Pages: 1579-1600, ISSN: 1047-7039
In this study, we go back to some of the fundamental ideas of Selznick and Stinchcombe about how organizations bear a lasting imprint of their founding context, and about how characteristics shaped during founding are coherently carried forward. To do so, we draw on an ethnography of a social venture where the entrepreneurs left soon after founding. In examining how an initial organizational imprint evolves beyond a venture’s founding phase, we focus on the actions and interactions of organizational members, the founders’ imprint, the venture’s new leadership and the external environment. The process model we develop shows how the organizational imprint evolves as a consequence of the interplay between top-down and bottom-up forces. We first find that the initial imprint is transmitted through a bottom-up mechanism of imprint reinforcement, and second, that the venture is re-imprinted after the founding period through two processes which we call imprint reforming and imprint coupling. The result of this is the formation of a sedimented imprint. Our findings further illuminate that although the initial imprint sticks, its function and manifestation changes over time.
Boone S, Andries P, Clarysse B, 2020, Does team entrepreneurial passion matter for relationship conflict and team performance? On the importance of fit between passion focus and venture development stage, Journal of Business Venturing, Vol: 35, ISSN: 0883-9026
This study advances the literature on entrepreneurial passion, which struggles to explain when and how the experience of passion impacts venture-level performance, by shifting the focus to the team level and investigating the mechanisms and contingencies underlying this relationship. Drawing on identity control theory and the literature on new venture life cycle stages, we theorize and test that team entrepreneurial passion (TEP) affects new venture team performance via relationship conflict, and that this mechanism differs depending on whether the team’s passion focus is aligned with the venture’s development stage. Based on survey data and start-up competition scores from 86 new venture teams, we conclude that a prerequisite for a team to benefit from the experience of TEP, is that its passion focus at least reflects the entrepreneurial activities that are required for the specific development stage the venture operates in. Implications for research and practice are discussed.
De Cock R, Denoo L, Clarysse B, 2020, Surviving the emotional rollercoaster called entrepreneurship: The role of emotion regulation, Journal of Business Venturing, Vol: 35, Pages: 1-18, ISSN: 0883-9026
The entrepreneurial journey is often experienced as an emotional rollercoaster, but we know very little about how entrepreneurs can ride it most effectively to increase their ventures' chances of survival. We investigate how entrepreneurs' habitual use of cognitive reappraisal and expressive suppression – two well-established types of emotion regulation – impact on the likelihood of their venture surviving. Drawing on a sample of 183 technology ventures, we find that both regulation types are generally associated with a lower survival likelihood, but that these effects depend on the venture's performance. Our study contributes to the literatures on emotions and new venture survival in entrepreneurship and to the emotion regulation literature.
Yusubova A, Andries P, Clarysse B, 2019, The role of incubators in overcoming technology ventures' resource gaps at different development stages, R & D MANAGEMENT, Vol: 49, Pages: 803-818, ISSN: 0033-6807
Although incubation is considered important for overcoming resource challenges in technology ventures’ early life, there is a doubt about its relevance in later development stages, when the initial idea is commercialized and the venture tries to grow. Building on the resource‐based view of the firm and on a stage‐based perspective of venture development, this study argues that the resource gaps facing technology ventures differ between different development stages, and that the support provided by incubators therefore needs to be adapted to the venture’s development stage. We study the interaction between the iMinds incubator, located in Flanders, and eight technology ventures in its portfolio. In the Conception and Development stage, we observe resource gaps in terms of technical knowledge and access to end users, which the incubator addresses by offering direct technical support and access to its research and end user network. The subsequent Commercialization stage is dominated by business knowledge gaps, which the incubator amends through direct coaching and trainings. In the Growth stage, ventures typically lack the necessary team members, market players, and follow‐up financiers to grow their firm. The incubator addresses these resource gaps by providing access to its network. In all development stages, the incubator’s internal knowledge base, networking capabilities, and matching focus/selectivity are crucial in order for ventures to benefit from the incubator’s support. Our study suggests that these underlying capabilities can either be developed organically, or through the merger of different research institutes. Moreover, it points to the importance of local embeddedness for the geographical extension of these capabilities. These findings contribute to the literature on incubation and on venture development. They have important implications for policy makers, incubation managers, and entrepreneurs seeking incubation support.
Bruneel J, Clarysse B, Autio E, 2018, The role of prior domestic experience and prior shared experience in young firm internationalization, INTERNATIONAL SMALL BUSINESS JOURNAL-RESEARCHING ENTREPRENEURSHIP, Vol: 36, Pages: 265-284, ISSN: 0266-2426
Bruneel J, Spithoven A, Clarysse B, 2017, Interorganizational Trust and Technology Complexity: Evidence for New Technology-Based Firms, JOURNAL OF SMALL BUSINESS MANAGEMENT, Vol: 55, Pages: 256-274, ISSN: 0047-2778
Pauwels C, Clarysse B, Wright M, et al., 2016, Understanding a new generation incubation model: the accelerator, Technovation, Vol: 50-51, Pages: 13-24, ISSN: 0166-4972
Prior research hints at the accelerator as a new generation incubation model. Accelerators have become an umbrella term for any program providing a service structure of mentorship, networking opportunities and access to funding. The challenge, however, is to understand their distinctive characteristics and profiles geared towards reinforcing business start-ups. How do accelerators operate as a new generation incubation model and how do they differ from existing incubation mechanisms? This inductive study investigates 13 accelerators across Europe and adopts a design lens to identify the accelerator model’s key design parameters. We identify five key building blocks and distinguish between three different types of accelerators, taking the primary design theme of the accelerator into account. We contribute to the incubation literature by extending recognition of the heterogeneity of incubation models, by delineating the accelerator as a distinctive incubation model and by introducing the design lens as a useful theoretical framework to investigate incubation models and their evolution.
Stevens R, Moray N, Bruneel J, et al., 2015, Attention allocation to multiple goals: The case of for-profit social enterprises, STRATEGIC MANAGEMENT JOURNAL, Vol: 36, Pages: 1006-1016, ISSN: 0143-2095
Cholakova M, Clarysse B, 2015, Does the Possibility to Make Equity Investments in Crowdfunding Projects Crowd Out Reward-Based Investments?, ENTREPRENEURSHIP THEORY AND PRACTICE, Vol: 39, Pages: 145-172, ISSN: 1042-2587
Clarysse B, Wright M, Bruneel J, et al., 2014, Creating value in ecosystems: Crossing the chasm between, knowledge and business ecosystems, Research Policy, Vol: 43, Pages: 1164-1176, ISSN: 0048-7333
Policy makers take initiatives to stimulate knowledge ecosystems in technology hotspots. It is implicitly assumed that these ecosystems will lead to value networks through which the participating companies can realize a competitive advantage. Value networks refer to business ecosystems where the value proposition is offered by a group of companies which are mutually complementary. The strategy literature suggests that business ecosystems lead to competitive advantages for each of the partners in the ecosystem. Based on a unique hand-collected database of 138 innovative start-ups in the region of Flanders, we analyze the knowledge and business ecosystem and the financial support network. We find that the knowledge ecosystem is well structured and concentrated around a number of central actors while the business ecosystem is almost non-existent at the local level. Further, we find that the financial support network is almost 100% publicly backed and fails to bridge the knowledge and business ecosystem. The implications for policy makers who tend to focus on the development of local ecosystems are discussed.
Knockaert M, Spithoven A, Clarysse B, 2014, The impact of technology intermediaries on firm cognitive capacity additionality, TECHNOLOGICAL FORECASTING AND SOCIAL CHANGE, Vol: 81, Pages: 376-387, ISSN: 0040-1625
Clarysse B, Bobelyn A, Aguirre IDP, 2013, Learning from own and others' previous experience: the contribution of the venture capital firm to the likelihood of a portfolio company's trade sale, SMALL BUSINESS ECONOMICS, Vol: 40, Pages: 575-590, ISSN: 0921-898X
VELDE EVANDE, CLARYSSE B, 2012, A Model of Antecedents and Characteristics of Corporate Spin-Offs
A persistent question surrounding corporate spin-offs is: ‘What accounts for the performance of corporate spin-offs? In order to be able to provide an answer to this question, we have reviewed the literature on corporate spin-offs. We found that after two decades of studying corporate spin-offs, the literature remains fragmented with little efforts at accumulation, the empirical work infrequently build upon one another. Therefore, we have designed a model of antecedents and characteristics of corporate spin-offs by identifying the key dimensions that contribute to the performance of a CSO.
KNOCKAERT M, HUYGHE A, CLARYSSE B, 2012, (NO) PATENT, NO CASH? A RISK PERCEPTION PERSPECTIVE ON INVESTMENT MANAGERS’ ATTITUDES TOWARDS PATENTS
Employing a risk perception perspective, this paper studies the link between the investmentmanager’s human capital and his or her attitude towards the appropriability regime in thebusiness proposal, and more specifically whether or not the technology is patent protected.Even though many researchers acknowledge the benefits related to patenting, agency theorysuggests that patents may enlarge agency risk and may therefore result in VCs refraining frominvesting in proposals commercializing patented technology. We find that task-specifichuman capital, operationalized as the number of years experience as investment manager,positively affects the attitude towards patents. We find that some elements of general humancapital, namely consulting experience, financial experience and entrepreneurial experienceaffect the attitude towards patents.
Bikar V, Bruneel J, Capron H, et al., 2012, Implementing an integrated evaluation scheme of the institutional set-up through the generation of new S&T indicators
HEIRMAN A, CLARYSSE B, 2012, The imprinting effect of initial resources and market strategy on the early growth path of start-Ups
Research-based start-ups (RBSUs) differ in their early growth. Some firms grow very rapidly, while others grow slowly or do not grow at all. In this paper we bring insights in the causes of the diversity in the early growth of RBSUs. To identify some of the key factors that affect growth, we study the initial resource base and the firm’s market strategy. We control for age, size and industry differences. Growth is a complex, multidimensional phenomenon. Therefore, we study three growth measures, namely growth in employees, revenues and total assets. Our multivariate analyses show that raising large amounts of VC is a key driver for early employment and revenue growth. Whilst most RBSUs are founded by pure technical founding teams, we find that R&D experience has no effect on growth. Founding teams with commercial experience, on the other hand, grow significantly more in employees, revenues and total assets. Next, RBSUs, which are internationally oriented from the start, grow significantly faster in terms of revenues and total assets but not in employees. Finally, multivariate analysis indicates that firms that are closer to a market ready product at founding do not grow significantly more in terms of revenues and employees, but firms that are earlier in the product development cycle grow more in total assets during the early growth path. We use in-depth qualitative information to explain and interpret the results and discuss the sustainability of different early growth trajectories. Our findings have important implications for entrepreneurs, investors and policy makers.
MORAY N, CLARYSSE B, 2012, Institutional Origin and Resource Endowments to Science-Based Entrepreneurial Firms: A European Exploration
This paper addresses theoretical and empirical gaps in the relationships between the nature of institutional origin, firm resources and growth in the context of spinning off ventures from public research organisations (PROs). Institutional origin is considered a two dimensional construct consisting of the formality of technology transfer and the research specificity of a PRO. In this perspective, these variables are hypothesised to predict the resource endowments of science-based entrepreneurial firms. Additionally, given the widespread attention from academics and policy makers to IP based science-based entrepreneurial firms, the formality of technology transfer is expected to be associated with growth. Empirical tests of hypotheses derived from this view are based on data from 184 science-based entrepreneurial firms, representing 48 public research organisations. Multivariate analysis of variance shows that institutional origin predicts firm resources, showing significance levels for start capital. An ordinal interaction effect shows that companies established with a formal transfer of technology start with higher resource levels, and even more so when started from a PRO with a specific research base. This suggests that specific PROs are more selective in the projects they consider eligible for spin off incubation and creation. Next to this, two-stage regression analysis indicates that the formality of technology transfer has a single direct effect on growth in employees and capital, independent of the start capital of the firm, pointing to the intrinsic advantage of having protected intellectual property formally transferred to the science-based entrepreneurial firm at the onset of the business activities.
Mosey S, Wright M, Clarysse B, 2012, Transforming traditional university structures for the knowledge economy through multidisciplinary institutes, CAMBRIDGE JOURNAL OF ECONOMICS, Vol: 36, Pages: 587-607, ISSN: 0309-166X
Bruneel J, Ratinho T, Clarysse B, et al., 2012, The Evolution of Business Incubators: Comparing demand and supply of business incubation services across different incubator generations, Technovation, Vol: 32, Pages: 110-121
Bruneel J, Van de Velde E, Clarysse B, et al., 2012, Improving the success of radical innovation projects within established firms: engaging employees across different hierarchal levels, TECHNOLOGY ANALYSIS & STRATEGIC MANAGEMENT, Vol: 24, Pages: 951-965, ISSN: 0953-7325
Wright M, Clarysse B, Mosey S, 2012, Strategic entrepreneurship, resource orchestration and growing spin-offs from universities, TECHNOLOGY ANALYSIS & STRATEGIC MANAGEMENT, Vol: 24, Pages: 911-927, ISSN: 0953-7325
Bruneel J, Van de Velde E, Clarysse B, 2012, Impact of the Type of Corporate Spin-off on Growth, Entrepreneurship: Theory and Practice
Clarysse B, Tartari V, Salter A, 2011, The Impact of Entrepreneurial Capacity, Experience and Organisational Support on Academic Entrepreneurship, Research Policy
Clarysse B, Tartari V, Salter A, 2011, The impact of entrepreneurial capacity, experience and organizational support on academic entrepreneurship, RESEARCH POLICY, Vol: 40, Pages: 1084-1093, ISSN: 0048-7333
Knockaert M, Ucbasaran D, Wright M, et al., 2011, The Relationship Between Knowledge Transfer, Top Management Team Composition, and Performance: The Case of Science-Based Entrepreneurial Firms, ENTREPRENEURSHIP THEORY AND PRACTICE, Vol: 35, Pages: 777-803, ISSN: 1042-2587
Clarysse B, Bruneel J, Wright M, 2011, EXPLAINING GROWTH PATHS OF YOUNG TECHNOLOGY-BASED FIRMS: STRUCTURING RESOURCE PORTFOLIOS IN DIFFERENT COMPETITIVE ENVIRONMENTS, STRATEGIC ENTREPRENEURSHIP JOURNAL, Vol: 5, Pages: 137-157, ISSN: 1932-4391
Kiefer S, Clarysse B, 2011, The Smart Entrepreneur: How to Build for a Successful Business, London, Publisher: Elliott & Thompson, ISBN: 9781904027881
More people than ever are becoming entrepreneurs, but the perils of starting a new business are well-documented. The Smart Entrepreneur teaches you how to avoid typical pitfalls and make your business a success by guiding you through the crucial decisions you need to make after your ‘eureka’ moment of inspiration. The Smart Entrepreneur uses a combination of real-life business experiences and state-of-the-art academic research, distilled into an accessible how-to book specifically targeted at start-ups. Especially useful for innovative and ambitious start-ups often requiring a great deal of effort and capital expenditure just to get to the testing phase – The Smart Entrepreneur offers a cutting-edge approach to enable entrepreneurs to rigorously test and improve their business idea before committing all their capital. It is a book of immense value to shape creative and innovative business ideas that carry a great deal of risk.
Clarysse B, Wright M, Van de Velde E, 2011, Entrepreneurial Origin, Technological Knowledge and the Growth of Spin-off Companies, Journal of Management Studies
Clarysse B, Bruneel J, Wright M, 2011, Growth, Value Creation and Resources in Young High Growth Technology Based Firms: The Impact of Environmental Contingencies, Strategic Entrepreneurship Journal
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