Lisa Callagher

Government roles in venture capital development: a review of current literature

Purpose - – Interest in venture capital markets continues to be of relevance to politicians and policy makers, recognizing the importance of government participation in venture capital market development. Yet advice regarding developing venture capital markets appears increasingly disparate. The paper aims to discuss these issues. Design/methodology/approach - – The authors engage the assumptions that underpin three dominant policy approaches to the development of venture capital markets with regard to the role of governments in that process. The authors categorize existing empirical studies against three approaches and give examples of the different government policies associated with the various approaches. Findings - – Direct and indirect approaches recognize the importance of active stock markets but largely ignore the dynamic processes of markets, asserting that the provision of capital, institutional changes, and financial incentives Research limitations/implications - – Limited empirical research tests the voracity and limitations of the timed approach. The challenge in doing so is that evolutionary theories typically explain an event after it has occurred, thus its predictive power is often limited. Future research might investigate the efficacy of policy levers based on the timed approach. Practical implications - – The authors highlight the need for the development of venture capital markets, rather than a venture capital industry. Originality/value - – The authors extend the existing venture capital market development categories and evaluate each approach in terms of the efficacy of government’s roles in venture capital market development in light of the existing evidence of economic development and entrepreneurial activity.

Engaging or avoiding) change through reflexive practices

In this article, we explore the ways in which individuals deploy reflexive practices in order to avoid or engage with a call to change either oneself or the social context. We begin by developing a categorization of the modes of reflexive practice associated with avoidance or engagement. We go on to develop—through a relationally reflexive research process—three contributions that build on this. First, we build an understanding of what a repertoire of reflexive practices may include, and “what is going on” in such reflexive practices. Second, we explain how reflexive practices can be mobilizing, thereby enabling shifts between avoidance and engagement modes, or fix action within a single mode. Third, we develop an understanding of the ways in which emotions and relationships influence how reflexive practices of either kind are deployed.

ALLIANCE SCOPE AND FIRM PERFORMANCE IN THE BIOTECHNOLOGY INDUSTRY

We test the relationship between alliance scope and firm performance in the context of the biotechnology industry by means of a meta-analysis. Meta-analysis is a statistical technique that allows a systematic review of the existing research that is more rigorously systematic compared to conventional narrative reviews as it uses statistics to capture the strength of relationships. The analysis confirms that a relationship between alliance scope and firm performance does exist. Furthermore, results suggest that there is a statistically significant difference in firm performance between exploitation alliances and exploration alliances, confirming recent studies in the innovation and R&D management literature. Managerial implications and future research suggestions are provided.

Living cell technologies: finding a path to market for xenotransplantation therapy

This case examines the research commercialisation process of biotech company living cell technologies (LCT). The case outlines the process of pre-clinical and clinical trials undertaken by the company as they moved towards commercialising their pig islet cell treatment for Type 1 diabetes including the RD rapid changes to legislation; the impact of public opinion; and the difficulties in raising capital, maintaining cash flow and developing a pipeline of opportunities over a long period of commercialisation.

Innovation Awards: Reward, Recognition, And Ritual

This paper draws on a detailed case study of an innovation awards-giving scheme in a professional service firm to consider the role of discretionary awards in encouraging and displaying innovation capabilities. Because of their association with competition, it might seem that awards are likely tools in pluralistic contexts such as professional service firms where risk-taking and collaboration require deep relationships with clients and with professionals from different specialisations. We intend to show how managers and professionals mobilised around the scheme using the rewarding, recognising, and ritualising of innovation through awards, as a platform to initiate and promote other organisational processes that foster innovation capabilities.

Science medialisation in a reluctant knowledge-based economy: the case of biotechnology in New Zealand

In the shift towards the knowledge economy, the increased role and value placed on science is associated with an increased medialisation of science. This paper examines how biotechnology is medialised in the context of New Zealand, a society whose knowledge-based development is characterised by belated political reforms, low to medium levels of R&D investment in general and low levels of industry-based R&D in particular. We apply three dimensions of medialisation – extensiveness, pluralisation and controversy – to examine how biotechnology has been medialised in New Zealand over a 15 year period. We discuss how knowledge-based development systems moderate the medialisation of science.