The Knowledge Spillover Theory of Entrepreneurship (KSTE) explores the effects that new knowledge and proximity have on the exploitation of entrepreneurial opportunities and the resultant creation of start-ups. This paper aims to identify the types of knowledge spillovers that affect entrepreneurs in the early stages of start-up development. A conceptual model is proposed, using a multi-case study approach involving High-Tech start-ups that have attended accelerator and incubator programmes in Greater London, United Kingdom (UK). The research involved 32 semistructured interviews with Chief Executive Officers (CEOs) and co-founders of start-up companies. Our findings suggest that entrepreneurs are influenced by various forms of knowledge spillover which assist in determining the strategic decision of the company, in terms of formation, including partnerships or alliances, allocation of Research and Development (R&D) budgets, and engagement in product innovation. Further observations confirm that High-tech start-ups focus on a fast pace of constant product innovation to cover identified gaps in the market. One significant finding is that start-ups use various technological platforms to access knowledge spillovers which challenges the ideas of geographical proximity present in existing KSTE understanding.
Entrepreneurial ecosystems have been explored widely in entrepreneurship, management and social sciences literature. The Knowledge Spillover Theory of Entrepreneurship (KSTE) aims to uncover the effects of information on start-ups co-located in diverse locations, such as urban areas, science and technology parks, incubators, and accelerator programs. Extant research has focused on how entrepreneurs launch start-ups and develop patents over a 5-10 years timespan from a regional perspective. However, studies into the development processes of start-ups and the creation of entrepreneurial ecosystems in physical and virtual environments in high-tech start-ups, are limited. As a result, this paper aims to identify the development processes undertaken by high-tech entrepreneurs at the individual level and evaluate the absorption and implementation of knowledge in physical and virtual clusters within entrepreneurial ecosystems. A multiple case study of 32 start-ups that have attended incubator and accelerator programs in London, United Kingdom, is presented. Semi-structured interviews were conducted with Chief Executive Officers (CEOs) and Founders of start-ups to propose the Model of Knowledge Spillovers and Entrepreneurial Ecosystems. The themes identified during interviews highlight the mechanisms employed by start-ups to capture tacit and explicit knowledge spillovers. Theoretically, the findings of this study contribute to the KSTE by questioning the flexibility of entrepreneurs to access knowledge without the limitation of geographical proximity to sources of knowledge. Practically, our findings provide entrepreneurs with proven mechanisms required to capture tacit knowledge spillovers within entrepreneurial ecosystems and use virtual platforms to obtain explicit knowledge spillovers towards product innovation.
Covid-19 stressed supply for Personal Protective Equipment (PPE) [1]. Lean practices have traditionally been proven to support stability in most operations [2], however, the pandemic highlighted concerns regarding lean system resilience in healthcare [2], [5], [6].In this paper we evaluate supply chain resilience in the provision of PPE for medical staff in the United Kingdom through a content analysis of online government documents and press releases using a three-phase model: proactive, concurrent, and reactive.We propose a framework for future work on risk management approaches seeking to mitigate the effects of pandemic style disruption resulting from our emerging themes which include the identification and appreciation of critical suppliers, the location of warehouses and distribution centers and the impact of rapid restructuring of healthcare systems.A key recurrent theme is the need to integrate information and collaboration between government and the private sector and our data suggests that contrary to many beliefs, lean approaches are a valid tool.
Entrepreneurship continues to be of the utmost importance in terms of national economic and industrial development. The formation of new companies (start-ups) encourages the creation of employment which in turn boosts economic activity. This growth, however, requires constant innovation within the start-ups. It is recognized that the process of innovation development is affected by a start-up's ability to capture knowledge spillovers which depends upon both external and internal factors. This paper proposes a conceptual model based on knowledge spillovers and their influence on the capture of new knowledge and its transformation into economic knowledge. We introduce and discuss various definitions, debating knowledge spillover theory, to provide a model based on classifications of cognitive and geographical proximity. Further discussion is provided against the product conceptualization process for start-ups.
Entrepreneurship is considered of utmost importance for national economic and industrial growth. A leading theory related to economic development is the Knowledge Spillover Theory of Entrepreneurship (KSTE), which aims to uncover the effects that economic agents have on the creation of new companies. By following the KSTE process, companies can commercialize and implement newly acquired knowledge in the market more quickly. Typically, economic growth evaluation is conducted at the country or regional level through global monitoring indexes, assessment on the generation of patents, and identification of the number of companies created. However, since knowledge is sometimes unattached to a physical document or item, it remains necessary to clarify a taxonomy and flow of knowledge spillovers at the individual level for startups in their first three to five years of development from the time that the company is funded. The purpose of this paper is to identify and discuss possible strategies for evaluating the effects of knowledge spillovers on startups in high-tech sections which, in-turn, will aid the decision-making process of Chief Executive Officers (CEOs).
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