Ebook: The Experimental Nature of New Venture Creation: Capitalizing on Open Innovation 2.0

This book presents readers with the opportunity to fundamentally re-evaluate the processes of innovation and entrepreneurship, and to rethink how they might best be stimulated and fostered within our organizations and communities. The fundamental thesis of the book is that the entrepreneurial process is not a linear progression from novel idea to successful innovation, but is an iterative series of experiments, where progress depends on the persistence and resilience of the individuals involved, and their ability and to learn from failure as well as success. From this premise, the authors argue that the ideal environment for new venture creation is a form of “experimental laboratory,” a community of innovators where ideas are generated, shared, and refined; experiments are encouraged; and which in itself serves as a test environment for those ideas and experiments. This environment is quite different from the traditional “incubator,” which may impose the disciplines of the established firm too early in the development of the new venture.

Featuring case examples of start-ups across a wide spectrum of industries, from Wikipedia to Ryanair, the authors explore the qualities of successful innovation, including a high tolerance of risk and unpredictability and commitment to building knowledge enterprises that value intangible assets. This volume is a clarion call to those in academia, enterprise, and government who seek to work together to promote innovation and entrepreneurship, with a stark message for academic institutions: engage or be left behind.

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This book presents readers with the opportunity to fundamentally re-evaluate the processes of innovation and entrepreneurship, and to rethink how they might best be stimulated and fostered within our organizations and communities. The fundamental thesis of the book is that the entrepreneurial process is not a linear progression from novel idea to successful innovation, but is an iterative series of experiments, where progress depends on the persistence and resilience of the individuals involved, and their ability and to learn from failure as well as success. From this premise, the authors argue that the ideal environment for new venture creation is a form of “experimental laboratory,” a community of innovators where ideas are generated, shared, and refined; experiments are encouraged; and which in itself serves as a test environment for those ideas and experiments. This environment is quite different from the traditional “incubator,” which may impose the disciplines of the established firm too early in the development of the new venture.

Featuring case examples of start-ups across a wide spectrum of industries, from Wikipedia to Ryanair, the authors explore the qualities of successful innovation, including a high tolerance of risk and unpredictability and commitment to building knowledge enterprises that value intangible assets. This volume is a clarion call to those in academia, enterprise, and government who seek to work together to promote innovation and entrepreneurship, with a stark message for academic institutions: engage or be left behind.

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This book presents readers with the opportunity to fundamentally re-evaluate the processes of innovation and entrepreneurship, and to rethink how they might best be stimulated and fostered within our organizations and communities. The fundamental thesis of the book is that the entrepreneurial process is not a linear progression from novel idea to successful innovation, but is an iterative series of experiments, where progress depends on the persistence and resilience of the individuals involved, and their ability and to learn from failure as well as success. From this premise, the authors argue that the ideal environment for new venture creation is a form of “experimental laboratory,” a community of innovators where ideas are generated, shared, and refined; experiments are encouraged; and which in itself serves as a test environment for those ideas and experiments. This environment is quite different from the traditional “incubator,” which may impose the disciplines of the established firm too early in the development of the new venture.

Featuring case examples of start-ups across a wide spectrum of industries, from Wikipedia to Ryanair, the authors explore the qualities of successful innovation, including a high tolerance of risk and unpredictability and commitment to building knowledge enterprises that value intangible assets. This volume is a clarion call to those in academia, enterprise, and government who seek to work together to promote innovation and entrepreneurship, with a stark message for academic institutions: engage or be left behind.

Content:
Front Matter....Pages i-xxii
Front Matter....Pages 11-11
University Ecosystems Design Creative Spaces for Start-Up Experimentation....Pages 13-22
Capitalizing on Open Innovation 2.0....Pages 23-33
Laboratory Experiments as a Tool in the Empirical Economic Analysis of High-Expectation Entrepreneurship....Pages 35-50
Accelerating Venture Creation and Building on Mutual Strengths in Experimental Business Labs....Pages 51-58
From Entrepreneurial Fission to Entrepreneurial Fusion: Achieving Interaction Resonance in a Micro-Innovation Ecology....Pages 59-68
Experiencing Experiments: A Multiplayer Game for Sharing Ideas: Crusoe Gives Way to Gulliver....Pages 69-82
Front Matter....Pages 83-83
What’s New in the Launching of Start-Ups? Features and Implications of Laboratory Experiments....Pages 85-91
Resourcing Lab Experiments for New Ventures: The Potential of a Start-up Database....Pages 93-96
Experimental Labs for Start-ups: The Role of the ‘Venture-Sitter’....Pages 97-104
Front Matter....Pages 105-105
Experimenting Social Constructivist Approach in Entrepreneurial Process-Based Training: Cases in Social, Creative and Technology Entrepreneurship....Pages 107-125
Wikipedia: Harnessing Collaborative Intelligence....Pages 127-138
Business Model Experimentation: What is the Role of Design-Led Prototyping in Developing Novel Business Models?....Pages 139-151
Taking Advantage of Experiments to Run Technology Companies: The Shimmer Research Case....Pages 153-161
Introduction....Pages 1-9
Back Matter....Pages 163-164

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This book presents readers with the opportunity to fundamentally re-evaluate the processes of innovation and entrepreneurship, and to rethink how they might best be stimulated and fostered within our organizations and communities. The fundamental thesis of the book is that the entrepreneurial process is not a linear progression from novel idea to successful innovation, but is an iterative series of experiments, where progress depends on the persistence and resilience of the individuals involved, and their ability and to learn from failure as well as success. From this premise, the authors argue that the ideal environment for new venture creation is a form of “experimental laboratory,” a community of innovators where ideas are generated, shared, and refined; experiments are encouraged; and which in itself serves as a test environment for those ideas and experiments. This environment is quite different from the traditional “incubator,” which may impose the disciplines of the established firm too early in the development of the new venture.

Featuring case examples of start-ups across a wide spectrum of industries, from Wikipedia to Ryanair, the authors explore the qualities of successful innovation, including a high tolerance of risk and unpredictability and commitment to building knowledge enterprises that value intangible assets. This volume is a clarion call to those in academia, enterprise, and government who seek to work together to promote innovation and entrepreneurship, with a stark message for academic institutions: engage or be left behind.

Content:
Front Matter....Pages i-xxii
Front Matter....Pages 11-11
University Ecosystems Design Creative Spaces for Start-Up Experimentation....Pages 13-22
Capitalizing on Open Innovation 2.0....Pages 23-33
Laboratory Experiments as a Tool in the Empirical Economic Analysis of High-Expectation Entrepreneurship....Pages 35-50
Accelerating Venture Creation and Building on Mutual Strengths in Experimental Business Labs....Pages 51-58
From Entrepreneurial Fission to Entrepreneurial Fusion: Achieving Interaction Resonance in a Micro-Innovation Ecology....Pages 59-68
Experiencing Experiments: A Multiplayer Game for Sharing Ideas: Crusoe Gives Way to Gulliver....Pages 69-82
Front Matter....Pages 83-83
What’s New in the Launching of Start-Ups? Features and Implications of Laboratory Experiments....Pages 85-91
Resourcing Lab Experiments for New Ventures: The Potential of a Start-up Database....Pages 93-96
Experimental Labs for Start-ups: The Role of the ‘Venture-Sitter’....Pages 97-104
Front Matter....Pages 105-105
Experimenting Social Constructivist Approach in Entrepreneurial Process-Based Training: Cases in Social, Creative and Technology Entrepreneurship....Pages 107-125
Wikipedia: Harnessing Collaborative Intelligence....Pages 127-138
Business Model Experimentation: What is the Role of Design-Led Prototyping in Developing Novel Business Models?....Pages 139-151
Taking Advantage of Experiments to Run Technology Companies: The Shimmer Research Case....Pages 153-161
Introduction....Pages 1-9
Back Matter....Pages 163-164
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