Entrepreneurs in High Technology: Lessons from MIT and Beyond

By Edward B. Roberts | Go to book overview

CHAPTER 2
An Environment for Entrepreneurs

Global pursuit of technology-based industrial development has mushroomed in the past decade. Greater Boston's Route 128 and California's Silicon Valley have become prototypes for other regions' and other nations' visions of their own futures. Research and writing about the Technopolis ( Dorfman, 1983; Miller, 1985; Rogers and Larsen, 1984; Segal Quince Wickstead, 1985; Smilor, Gibson and Kozmetsky, 1989; Tatsuno, 1986) have accompanied actions by cities and states throughout the United States and Europe to launch entrepreneurial centers, often based on newly established university incubators and venture capital firms. In Asia, Japan has committed major funding to create a network of "science cities" (going beyond its own Tsukuba), the Republic of China has coupled tax incentives and subsidies to help grow its technology park, and Singapore has linked sophisticated local industrial development planning with government-funded venture capital investments in overseas start-ups to attract high-technology opportunities. Even the Soviet Union has established a joint venture with U.S. and Japanese corporations to generate a center for new technology-based industry.

None of these kinds of governmental programs contributed to the growth of high-technology industry in the Greater Boston area. But what did cause this original American Technopolis to develop? What forces continue today to encourage young local scientists and engineers to follow entrepreneurial paths? In his review of entrepreneurial decision making, Cooper ( 1986) argues for six different potential environmental influences: economic conditions, access to venture capital, examples of entrepreneurial action, opportunities for interim consulting, availability of support personnel and services, and access to customers. This chapter traces the evolution of Boston's high-technology community, providing support for all of Cooper's variables. But I also identify even more critical aspects of culture and attittide that have built a local environment that fosters entrepreneurship.

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Entrepreneurs in High Technology: Lessons from MIT and Beyond
Table of contents

Table of contents

  • Title Page iii
  • Preface vii
  • Acknowledgments ix
  • Contents xi
  • Chapter 1 High-Technology Entrepreneurs 3
  • References 30
  • Chapter 2 an Environment for Entrepreneurs 31
  • References 45
  • Chapter 3 the Makings of an Entrepreneur 47
  • Summary and Implications 94
  • Notes 96
  • References 97
  • Chapter 4 the Technological Base of the New Enterprise 100
  • Summary and Implications 121
  • References 123
  • Chapter 5 the Financial Base of the New Enterprise 124
  • Summary and Implications 156
  • Chapter 6 Evolving Toward Product and Market-Orientation 160
  • Notes 186
  • References 186
  • Chapter 7 Finding Additional Financing 188
  • References 215
  • Chapter 8 Going Public 217
  • Summary and Implications: Sizzle or Steak 242
  • References 244
  • Chapter 9 Survival Versus Success 245
  • Chapter 10 Product Strategy and Corporate Success 281
  • Notes 306
  • References 308
  • Chapter 11 Super-Success 309
  • Notes 336
  • References 338
  • Chapter 12 Technological Entrepreneurship: Birth, Growth, and Success 339
  • References 358
  • Appendix a Quarter Century of Research 359
  • References 375
  • Index of Founders and Firms 377
  • Subject Index 381
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