Font Size: a A A

A Research On High-tech Business Incubation Mechanism Based On The Determinants Of New Venture Performance

Posted on:2004-10-28Degree:DoctorType:Dissertation
Country:ChinaCandidate:Q LinFull Text:PDF
GTID:1116360122967248Subject:Business Administration
Abstract/Summary:PDF Full Text Request
Business incubator, in other name business innovation center or entrepreneurial center, is the social economic organization whose purpose is to help and facilitate the development and growth of new ventures through a variety of supports and resources. The most important part of incubator research is the incubation mechanism. Previous research of incubation mechanism lacks not only theoretical base, but also empirical test. Based on the Resource Dependence Perspective and Resourse-based View, the traditional model of the determinants of new venture performance NVP=f(E,IS,S)is extended to NVP=f(E,IS,S,R) by the introduction of entrepreneurial resource as a new determinant, where NVP represents new venture performance, E represents entrepreneur (team), IS represents industry structure, S represents strategy, and R represents resource. According to the empirical analysis on the data from 80 on-incubator high-tech new ventures and 22 off-incubator high-tech new ventures, the principal conclusions are drawn as follows. First, entrepreneurial resource is multidimensional. Productive factorial resource consists of field resource, science and technology resource, financial resource, management resource and human resource. Environmental resource consists of policy resource, information resource, culture resource and reputation resource. Second, the importance of entrepreneurial resource varies with the entrepreneurial stages. In the productive factorial resource system, the importance of financial resource and human resource remain relatively high in all the entrepreneurial stages, and the management resource becomes more and more important. In the environmental resource system, the importance of policy resource and information resource remain relatively high in all the entrepreneurial stages, and the culture resource becomes more and more important. Third, entrepreneurial resource has positive impact on the new venture growth performance. The productive factorial resource directly impacts parts of newventure growth performance. Environmental resource directly impacts the productive factorial resource and then indirectly impacts parts of new venture growth performance. The above conclusions confirm the extended model of the determinants of new venture performance.Based on the extended model of the determinants of new venture performance, the model of "two stages two levels incubation mechanism" is built. According to this incubation mechanism model, the impact process of business incubator on new ventures is divided into two stages, "screening stage" and "configuration stage". In the first stage, the incubator screens the industry, entrepreneur (team) and strategy to ensure the high growth potential of high-tech new ventures. In the second stage, the incubator configures entrepreneurial resource to improve the growth performance of high-tech new ventures. Incubator can configure two levels of entrepreneurial resource. The first level entrepreneurial resource is the productive factorial resource, and the second level entrepreneurial resource is the environmental resource. According to the investigation and interviews to the managers of 11 incubators in Beijing, the incubators' screening criterions in industry, entrepreneur (team) and strategy of new ventures are found. According to the empirical comparative analysis of the on-incubator new ventures and off-incubator new ventures, it is found that on-incubator new ventures can acquire more entrepreneurial resource than off-incubator new ventures, and parts of the growth performance of on-incubator new ventures are higher than those of off-incubator new ventures. The above conclusions confirm the model of "two stages two levels incubation mechanism". Additionally, a case study of typical incubation model of the Research Institute of Tsinghua University in Shenzhen (RITS) is carried. The findings of the case study also support the key points.
Keywords/Search Tags:Business Incubator, Incubation Mechanism, New Venture Performance (NVP), Entrepreneurial Resource
PDF Full Text Request
Related items