Entrepreneurs in High Technology: Lessons from MIT and Beyond

By Edward B. Roberts | Go to book overview

Summary

Although quantitative evidence is lacking to support this assertion, an overwhelming amount of anecdotal data argues that the general environment of the Greater Boston area, beginning during the postwar period, and in particular the atmosphere at MIT, have played a strong role in affecting "would-be" local entrepreneurs. The legitimacy of "useful work" from MIT's founding days was amplified and directed toward entrepreneurial expression by prominent early actions taken by administrative and academic leaders like Compton and Edgerton. Policies and examples that encouraged faculty and staff involvement with industry and, more important, their "moonlighting" participation in spinning off their ideas and developments into new companies, were critical early foundation stones. MIT's tacit approval of entrepreneurism, to some extent even making it the norm, was in my judgment a dramatic contribution to the Greater Boston culture. Key individual and institutional stimulants like Stark Draper and the MIT Enterprise Forum reinforced the potential entrepreneurial spin-off that derived from a wide variety of advanced technology development projects in MIT labs and in the region's industrial firms. These actions fed into a gradually developing positive loop of productive interactions with the investment community that in time created Route 128 and beyond.


References

Boston Business Journal. August 20-26, 1984.

Boston Business Journal. "Corporate Album: Genetics Institute", March 23, 1987.

Chase Manhattan Corporation. MIT Entrepreneurship in Silicon Valley (Privately published, April 1990).

A. C. Cooper. "Spin-offs and Technical Entrepreneurship", IEEE Transactions on Engineering Management, EM-18, 1 ( 1971), 2-6.

A. C. Cooper. "The Role of Incubator Organizations in the Founding of Growth- Oriented Firms", Journal of Business Venturing, 1 ( 1985), 75-86.

A. C. Cooper. "Entrepreneurship and High Technology", in D. L. Sexton & R. W. Smilor (editors), The Art and Science of Entrepreneurship ( Cambridge, MA: Ballinger Publishing, 1986), 153-167.

Nancy S. Dorfman. "Route 128: The Development of a Regional High Technology Economy", Research Polity, 12 ( 1983), 299-316.

Charles Stark Draper. "Remarks on the Instrumentation Laboratory of the Massachusetts Institute of Technology". Unpublished paper ( January 12, 1970).

The Economist. "A Survey of New England: A Concentration of Talent", August 8, 1987.

Henry R. Feeser & Gary E. Willard. "Incubators and Performance: A Comparison of High-and Low-Growth High-Tech Firms", Journal of Business Venturing, 4, 6 ( 1989), 429-442.

Udayan Gupta. "How an Ivory Tower Turns Research Into Start-Ups", The Wall Street Journal, September 19, 1989.

-45-

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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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