Overcoming the Valley of Death: A New Model for High Technology Startups

Gbadegeshin, Saheed A.; Natsheh, Anas Al; Mohammed, Omar; Koskela, Ashten; Rimpiläinen, Antti; Tikkanen, Joonas; Kuoppala, Antti

doi:10.1016/j.sftr.2022.100077

Cited by 21 publications

(12 citation statements)

References 113 publications

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“…From a qualitative narrative analysis perspective, this can be considered a rather large sample ( Braun and Clarke, 2021 ). We opted for this sample size in line with our broader interest in startups, not exclusively limited to the most frequently investigated technological startups (e.g., Nummela et al, 2016 ; Bajwa et al, 2017 ; Santisteban and Mauricio, 2017 ; Seppänen et al, 2017 ; Assyne and Wiafe, 2019 ; Gbadegeshin et al, 2022 ). This approach allowed us to assemble a diverse collection of startup narratives.…”

Section: Methodsmentioning

confidence: 99%

Why do startups fail? A core competency deficit model

Szathmári,

Varga,

Molnár

et al. 2024

Front. Psychol.

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A growing body of work aims to explore the reasons behind startup failures. However, there is a need for integrative approaches organized around conceptual frameworks to avoid fragmented and perplexing knowledge about these reasons. To our knowledge, no previous research has systematically investigated the role of competency deficits in startup failures, a crucial element of these failures. In our study, we adapted Spencer’s behavioral competence model specifically for startups to identify the competencies within startup teams that, according to their Chief Executive Officers, contributed to their downfall. Three coders meticulously analyzed 50 online accounts of startup failures using a modified Critical Incident Technique. This analysis revealed two prominent competency deficits as pivotal determinants of these startups’ outcomes: information-seeking and customer service orientation. Additionally, deficits in technical expertise, analytical thinking, and flexibility emerged as significant factors contributing to these failures. The competency deficits identified in this study offer focal points for evaluating and enhancing startup teams, thereby helping to prevent failure.

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Section: Methodsmentioning

confidence: 99%

Why do startups fail? A core competency deficit model

Szathmári,

Varga,

Molnár

et al. 2024

Front. Psychol.

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“…This concept refers to the situation in which a technology fails to move from the demonstration to the commercialization phase (Auerswald & Branscomb, 2003; Ford et al, 2007; Frank et al, 1996; Markham et al, 2010). Innovative firms can struggle with transitioning technologies from the discovery stage to product development, and this gap has been referred to as VoD (Gbadegeshin et al, 2022).…”

Section: Theoretical Backgroundmentioning

confidence: 99%

Bridging the valley of death in the EU renewable energy sector: Toward a new energy policy

Muscio

Simonelli

2023

Bus Strat Env

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The European Union (EU) has committed to becoming a global leader in renewable energy. Reaching this target implies fostering innovation activity to maximize the competitiveness of the European renewable industry. By relying on a case study approach based on a small number of in‐depth interviews with selected stakeholders, this paper illustrates one of the main factors hindering technological development in the renewable energy sector in Europe. More specifically, the paper focuses on the so‐called “valley of death,” which traps promising technologies in a “limbo.” While ready to be deployed from a technical standpoint, these technologies are not cost competitive and, paradoxically, only their widespread commercialization would allow to drive their cost down. The paper also identifies a mix of policy solutions that can effectively support the competitiveness of the EU renewable energy industry. While more public funding to deploy promising renewable energy technologies is certainly needed, EU policymaker should also improve synergies between EU funding programs at all stages of the research and innovation process. In addition, introducing an EU risk insurance and guarantee fund would ultimately allow to reduce deployment costs and boost commercialization of new technologies.

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“…Despite the hype and attention around it and the rapid growth of digital technologies, the involvement of patients, clinicians, the insurance industry, and medicine regulators still needs to be higher]. The Valley of Death (VoD) is a challenge entrepreneurs, business owners, technology experts, innovators, and inventors must consider [ 2 ]. It reflects a series of challenges facing many companies in the digital world as the hype of the last decade seems to be over [ 2 ].…”

Section: Introductionmentioning

confidence: 99%

“…The Valley of Death (VoD) is a challenge entrepreneurs, business owners, technology experts, innovators, and inventors must consider [ 2 ]. It reflects a series of challenges facing many companies in the digital world as the hype of the last decade seems to be over [ 2 ]. The “no evidence, no implementation–no implementation, no evidence” paradox is often related to the digital health field.…”

Section: Introductionmentioning

confidence: 99%

The Constrained-Disorder Principle Assists in Overcoming Significant Challenges in Digital Health: Moving from “Nice to Have” to Mandatory Systems

Hurvitz,

Ilan

2023

Clinics and Practice

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The success of artificial intelligence depends on whether it can penetrate the boundaries of evidence-based medicine, the lack of policies, and the resistance of medical professionals to its use. The failure of digital health to meet expectations requires rethinking some of the challenges faced. We discuss some of the most significant challenges faced by patients, physicians, payers, pharmaceutical companies, and health systems in the digital world. The goal of healthcare systems is to improve outcomes. Assisting in diagnosing, collecting data, and simplifying processes is a “nice to have” tool, but it is not essential. Many of these systems have yet to be shown to improve outcomes. Current outcome-based expectations and economic constraints make “nice to have,” “assists,” and “ease processes” insufficient. Complex biological systems are defined by their inherent disorder, bounded by dynamic boundaries, as described by the constrained disorder principle (CDP). It provides a platform for correcting systems’ malfunctions by regulating their degree of variability. A CDP-based second-generation artificial intelligence system provides solutions to some challenges digital health faces. Therapeutic interventions are held to improve outcomes with these systems. In addition to improving clinically meaningful endpoints, CDP-based second-generation algorithms ensure patient and physician engagement and reduce the health system’s costs.

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Overcoming the Valley of Death: A New Model for High Technology Startups

Cited by 21 publications

References 113 publications

Why do startups fail? A core competency deficit model

Why do startups fail? A core competency deficit model

Bridging the valley of death in the EU renewable energy sector: Toward a new energy policy

The Constrained-Disorder Principle Assists in Overcoming Significant Challenges in Digital Health: Moving from “Nice to Have” to Mandatory Systems

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