Characteristics of Born Global Industries: The Birth of Offshore Renewables

Løvdal, Nicolai; Aspelund, Arild

doi:10.4337/9780857938046.00026

Cited by 5 publications

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“…Technological entrepreneurs are currently fighting maybe the biggest technological battle of our time in the competition to supply the prevailing design for the renewable energy solutions that will ultimately replace fossil fuels, as such, it facilitates sustainability. Finally, it is a "Born Global" industry [9]. Since ever-scarcer fossil fuel resources and climate change are global problems, the energy challenge (and, hence, the business opportunity) is inherently global.…”

Section: Conceptual Background-the Nascent Industrymentioning

confidence: 99%

Entrepreneurial Judgment and Value Capture, the Case of the Nascent Offshore Renewable Industry

2015

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Entrepreneurship may be regarded as the mechanism of change towards sustainability. Any entrepreneur that seeks to start a new venture in an emerging industry will face resource and time constraints. The question we raise here is how the entrepreneur should prioritize use of time and resources to increase likeliness of success. To address this question we depart from a theoretical perspective of entrepreneurship seen as judgment, and bridges it over to entrepreneurship seen as co-creation. In other words, we combine the subjective with the intersubjective, and explore the effects of the actions successful green technology entrepreneurs in the emerging offshore renewable energy industry make in building their new ventures in nascent markets. Inspired by earlier studies on market entry, combined with new ways to understand new venture emergence, we find that independent entrepreneurs benefit from leapfrogging typical stages in the technology development process and rather devote time and efforts on resource acquisition. We also find that the most important value-capturing, decision-making heuristics are those related to "hybrid governance". We discuss implications for theory, practice, and policy.

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Section: Conceptual Background-the Nascent Industrymentioning

confidence: 99%

Entrepreneurial Judgment and Value Capture, the Case of the Nascent Offshore Renewable Industry

2015

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“…Most recently there has been published a few studies that links international entrepreneurship with societal effects and industry creation. One such exception is Løvdal and Aspelund's (2012) study of the emerging global offshore renewables industry -an industry they labeled a Born Global industry. They argue that the IE perspective is well suited for the study of emerging industries as they find the establishment of offshore renewables industry to be driven by highly internationally mobile new ventures that inhibit international traits even before the commercialization stage of the industry.…”

Section: Theoretical Backgroundmentioning

confidence: 99%

The birth and development of a born global industry: The case of microelectronics in Norway

et al. 2017

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It seems beyond discussion that nations benefit greatly from having internationally competitive knowledge-based or technology-intensive industries. However, the question of how to create and nurture such industries is still debated, and various schools offer different recipes. This study takes an international entrepreneurship approach to investigate the emergence of an industry that seeks international competitiveness and growth from inceptiona Born Global industry. The case is the Norwegian microelectronics industry, which is a successful, profitable and globally competitive industry, but interestingly also an industry that Norway has very few preconditions to have. The purpose of the study is to understand why this industry emerged in Norway and the underpinnings of its international competitiveness and growth. The study adopts a historical multi-level case study approach that tracks the story of the key entrepreneurs, their firms and competitors, and the key institutions they have interacted with. The study concludes that, from a structural condition or path dependency point of view, few factors would suggest the establishment of this industry in Norway. Rather, the emergence of this industry seems to be based on a knowledge platform created by the state, and subsequently turned into robust international business activities through the work of a handful of very ambitious and extremely technically competent international entrepreneurs with global visions for all their business activities. The findings support the pivotal role of the state in building knowledge platforms, but also in nurturing an environment where international entrepreneurs can thrive. Hence, this study justifies the study of emerging industries and the competitiveness of nations within the framework of international entrepreneurship and encourages more research on the societal and economic effects of international entrepreneurship.

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“…Results of studies in IE literature highlight the key role of the resources and capabilities in the internationalization of firms (Andersen and Suat Kheam, 1998;Calof and Beamish, 1995;Coviello and Cox, 2006;Munro, 1997, 1995;Dhanaraj and Beamish, 2003;Laanti et al, 2007;Westhead et al, 2001;Zahra et al, 2003). Few studies about the internationalization of wave and tidal energy companies also point out that lack of resources is one of the key factors that hinders the process of internationalization of these firms (Bjørgum et al, 2013;Løvdal and Aspelund, 2012;Løvdal and Moen, 2013;Løvdal and Neumann, 2011), in particular financial resources.…”

Section: Resources and Capabilitiesmentioning

confidence: 99%

“…Moreover, this industry is characterized by high level of international integration. In other words, it is a "born global industry" (Løvdal and Aspelund, 2012).…”

Section: Technological Knowledgementioning

confidence: 99%

“…Several of these small companies have developed rapidly their new technologies in the international markets as Born Global or international new ventures (INVs) (Oviatt and McDougall, 2005). This rapid international development of small energy companies can be related to the structure of this industry as a global integrated emerging industry and also the standard final product which is electricity (Løvdal and Aspelund, 2012). However, many large companies such as utility companies perceived the threat of smaller firms and they entered the niche market of these firms by merging or acquiring them.…”

Section: Age and Sizementioning

confidence: 99%

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Internationalization to survive; the case of renewable energy companies in Spain

Manesh¹,

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2017

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Purpose In this study, entrepreneurial internationalization in renewable energy industry as a high-tech and emerging industry was explored. The focus of this study is on firm level factors to understand how and why these companies entered the international markets and what are their challenges and difficulties in this process. To answer these questions, two main streams of literature were used: international entrepreneurship (IE) and sustainable entrepreneurship. Design/methodology/approach Case study methodology is selected for this research. Because this subject is new and empirical researches in renewable energy industry are scarce, a method to gather research and in-depth data was adopted. Following suggestions by Eisenhardt (1989), a multiple-case design method was used with nine cases of entrepreneurial companies in renewable energy industry from Spain. Findings Results show that in renewable energy industry firms, resources and capabilities such as need for funding and rapid commercialization are key factors that encourage companies to enter the international market. However, having access to the technological knowledge cannot be a compelling reason for internationalization of renewable energy companies from Spain. Moreover, the interaction between the large and small firms is an important factor that facilitates the process of internationalization. Research limitations/implications In this study, the focus was only on firm level factors, whereas other levels of analysis such as entrepreneur, environment, policy scheme and industrial factors need further attention in future studies. Moreover, this study is only limited to Spanish companies, and future studies can be replicated in other context. Practical implications Findings of the study have significant theoretical and empirical implications. First of all, it explains the entrepreneurial internationalization by taking advantage of sustainable entrepreneurship literature. In addition, empirical results of this study are significantly important for entrepreneurs to implement effective internationalization strategy to survive. Findings of this study can help policy makers for designing a supportive scheme for further development of this industry in the international markets. Originality/value This paper explores the entrepreneurial internationalization of renewable energy companies as an emerging industry by taking advantage of two streams of literature: international entrepreneurship and sustainable entrepreneurship. The results show the phenomenon of early internationalization in pre-commercialization phase. These findings put emphasis on interaction between large and small firms in process of internationalization in this specific industry.

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Characteristics of Born Global Industries: The Birth of Offshore Renewables

Cited by 5 publications

References 0 publications

Entrepreneurial Judgment and Value Capture, the Case of the Nascent Offshore Renewable Industry

Entrepreneurial Judgment and Value Capture, the Case of the Nascent Offshore Renewable Industry

The birth and development of a born global industry: The case of microelectronics in Norway

Internationalization to survive; the case of renewable energy companies in Spain

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