SHAPE UP YOUR TECHNOLOGY START-UPS

High-innovation, technology-based startups produce proportionately far more jobs and value than their low- and medium-innovation counterparts -- if they succeed. But the managerial challenges are formidable. In the forthcoming book, Nurturing Science-Based Ventures: An International Case Perspective...

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Bibliographic Details
Published inPerspectives for Managers no. 153; p. 1
Main Authors Seifert, Ralf, Leleux, Benôit
Format Journal Article
LanguageEnglish
Published Lausanne International Institute for Management Development 01.12.2007
Subjects
Entrepreneurship
High tech industries
Management
Problems
Startups
Success factors
Europe
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Summary:High-innovation, technology-based startups produce proportionately far more jobs and value than their low- and medium-innovation counterparts -- if they succeed. But the managerial challenges are formidable. In the forthcoming book, Nurturing Science-Based Ventures: An International Case Perspective, the authors use a panel of over 30 European clinical studies to investigate managerial and growth issues that are critical to the survival of both independent and corporate start-up ventures. The results show that many factors need to come together to create a successful technology venture. Here are the most common management problems in early-stage, science-based companies: 1. structuring too early, 2. confusing technology innovation with market needs, 3. providing free services to progress sales leads, 4. falling into the opportunity drain, and 5. failing to bridge technology and business expertise. Many of these hurdles can be overcome but every time they came as a surprise it turned into a costly and painful process for all involved.
ISSN:1027-7404