Joseph R. Bell

Utilization of Problem-Based Learning in an Entrepreneurship Business Planning Course

This article demonstrates the implementation and efficacy of Problem-Based Learning (PBL) in an undergraduate entrepreneurship business planning course. Throughout the course, ill-structured problems arise that require independent thinking and ongoing problem solving with students taking responsibility for their own learning. The course incorporates the latest classroom technology and how that technology is utilized to deliver self-directed learning. The PBL methodology is then evaluated in light of anonymous student survey results. The objective is to create a framework for future assessment in evaluating PBL in the business planning course.

Seeding Venture Capital: Insights into State-by-State Equity Tax Credit Legislation

In general, states have recognized the need to diversify state economic incentives from solely targeting transient businesses to relocate into the state to creating knowledge-based homegrown economies. The intent is to reward and motivate investment and, in the process, create high-growth, high-wage employment opportunities. Currently, 26 states have enacted legislation to incent equity investors to invest in high-risk, early-stage ventures in an attempt to stimulate state economies. The practice is widespread, growing, and competitive. The credits are legislated state by state, creating unique features and rules based on state-specific incentives. The drafted legislation also reflects the hoped-for effect on state-specific economic outcomes. This article highlights state equity tax credit activity and its application to the investment community.

Angel Investor Sophistication: Increasing Applicationof Pre-Revenue Venture Valuation Methodologies

There was a time when angel investors committed funds for market research and later, when the Internet boom hit, entire deals with entrepreneurs were sketched out on cocktail napkins. This relationship started to fall apart with down-rounds, dilution, changes to board representation, a general lack of appreciation regarding the early-risk assumption, and a number of other factors. However, over time, they both realized they needed each other, and what the angels developed was a greater understanding of the investment process. Angel investors, becoming more sophisticated, began to adopt some of the strategies and valuation methodologies employed by the venture capital community. Though varied, these methodologies often serve as the framework for the pre-money valuation negotiations for a pre-revenue venture. Research suggests that today’s angel is focused on return on investment, investment timelines, dilution, and other assessment factors that were historically reserved for the venture capital community.

A Random Walk through Silicon Valley: Non-Compete Agreements

Companies in general become very protective of their technologies. They are concerned that their intellectual property, especially trade secrets, customer lists, goodwill, and so on could be compromised when employees depart to competitors or set up “competing shops” themselves. This fear has led to the proliferation of company/employee non-compete agreements. One of the exceptions to these protective agreements is the state of California—including Silicon Valley. California, to continue to spur technological development and economic growth, does not enforce non-compete agreements. A random walk through Silicon Valley can attest to the competitive environment that exists, possibly, in part, to unenforced non-compete agreements. This article examines the current state of play of non-compete agreements.

Handbook of bioentrepreneurship

Book review by Joseph R. Bell. Patzelt, Holger and Thomas Brenner, eds. Handbook of Bioentrepreneurship. New York: Springer, 2008. ISBN 9780387483436 The Handbook of Bioentrepreneurship represents volume 4 in the International Handbook Series on Entrepreneurship.This book is a collection of articles covering the rapidly evolving biotechnology industry.