Marcela Barbosa de Moraes

Expectations of FINEP and São Paulo Anjos Agents Concerning the Use of Venture Capital in Technology-Based Small and Medium Enterprises

This work aims at providing a better understanding of the relations of venture capital agents with entrepreneurs of small- and medium-sized technology-based firms by studying their expectations. The study used qualitative, multiple-case research method, predominantly following the precepts of Eisenhardt (1989). Data collection was done through analysis of documents and semi-structured in-depth interviews with FINEP and Sao Paulo Angels (SPA) agents. Data analysis followed intra-and inter-case steps (Miles and Huberman, 1994). The results indicate that FINEP agents’ expectations for entrepreneurs who benefit from venture capital are compliance with deadlines established, development of the items specified in the approved project (prototype, product, etc.), generation of innovations that benefit society, and development of business management knowledge and practice. SPA agents’ expectations are that entrepreneurs have high motivation and passion in relation to the business, work ethically and according to the law, and maintain a very good relationship with SPA agents to achieve solid results.

ANALYSIS OF TECHNOLOGICAL INNOVATION STRATEGY FOR SMALL AND MEDIUM COMPANIES OF THE AERONAUTICAL SECTOR. doi: 10.5028/jatm.2010.02025410

The inherent risk in high-tech activity requires the construction of technological strategies that serve global strategy of the company. The present study aimed to characterize the technological position of small and medium technology-based companies of the aeronautical sector located in the Vale do Paraíba, and to examine whether these companies have a technological strategy formalized and disseminated. The adopted methodology was a descriptive exploratory research, carried out through in-depth individual interviews conducted with the small e medium company’s owners of the cities of Caçapava, São José dos Campos and Taubaté, Brazil. The authors concluded that it is necessary that companies, especially small and medium-sized, adopt a technological innovation strategy integrated with the company’s overall strategy. This will help keeping them competitive within their specificities, and not only in the domestic market, but also in international markets.