Technology Entrepreneurship : A Treatise on Entrepreneurs and Entrepreneurship for and in Technology Ventures

666 Pages·2014·15.26 MB·English

by  Wolfgang Runge

Wolfgang Runge
Technology Entrepreneurship
A Treatise on Entrepreneurs and Entrepreneurship for and in Technology Ventures
VOLUME 1

Technology Entrepreneurship
A Treatise on Entrepreneurs and Entrepreneurship
for and in Technology Ventures
VOLUME 1
by
Wolfgang Runge
Many of the designations used by manufacturers and sellers to distinguish their
products are claimed as trademarks. The quotation of those designations in
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Copyright Acknowledgements
Acknowledgements are due to the Zentrum für Europäische Wirtschaftsforschung
GmbH, Mannheim (ZEW) for permissions to reproduce a large number of figures
and tables from its publications.
Permission to use figures from the Global Entrepreneurship Monitor (GEM) 2008
Global Report, which appear here, has been granted by the copyright holders. The
GEM is an international consortium and this report was produced from data collect-
ed in, and received from, 43 countries in 2008. Our thanks go to the authors,
national teams, researchers, funding bodies and other contributors who have made
this possible.
Impressum
Karlsruher Institut für Technologie (KIT)
KIT Scientific Publishing
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D-76131 Karlsruhe
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Institute of Technology. Reprint using the book cover is not allowed.
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The cover page is licensed under the Creative Commons
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Print on Demand 2014
ISBN 978-3-7315-0107-7 (Set)
DOI: 10.5445/KSP/1000036457
ISBN 978-3-7315-0108-4 (Band 1)
DOI: 10.5445/KSP/1000036459
ISBN 978-3-7315-0109-1 (Band 2)
DOI: 10.5445/KSP/1000036460

Dedication
To my spouse Gisela and our daughters Diana and Sarah recognizing their enrich-
ments, stimulations and support for my life.

Acknowledgements
I thank Professor Dr. Stefan Bräse and Dr. Thierry Muller of the Institute of Organic
Chemistry of the Technical University of Karlsruhe branch of the Karlsruhe Institute of
Technology (KIT) for their continuous interest, support and time spent in many discus-
sions to make the Technology Entrepreneurship curriculum continuously happen.
For discussions and support thanks are also due to KIT Professor Dr. Orestis Terzidis
of the Institute for Entrepreneurship, Technology Management and Innovation
(EnTechnon).
The curriculum could not start and “survive” without the generous financial support of
our sponsors, the firms Altana AG, BASF SE, Evonik Industries, Henkel AG & Co.
KGaA, LANXESS AG, the Chemical Industry Association (VCI) and Zweibrüder
Optoelectronics GmbH.
I am indebted to the active roles taken by the technology entrepreneurs presenting
guest lectures as part of the Technology Entrepreneurship course. Additionally, these
entrepreneurs gave me the opportunity to discuss personal, emotional, procedural and
background matters of their firms in a very open and intimate atmosphere on the day
of their guest lectures and during telephone conversations which influenced writing my
book considerably.
Acknowledgements are also due to the intrapreneurs or managers of large existing
firms who provided guest lectures for the KIT Technology Entrepreneurship curriculum
on the research or innovation processes or new business development strategies,
respectively, of their firms.
Finally I appreciate also the contributions of those students of the curriculum who
asked tough questions and raised discussions whose answers and conclusions could
add to shape this book’s content.
About the Author
Wolfgang Runge is an independent scientist and consultant for various areas of inno-
vation and research in the chemical industry. He is a chemist by education with a
doctoral degree from the Free University of Berlin (Germany) and subsequently the
additional particular German degree of a “Habilitation” (Dr. rer. nat. habil.) from the
Technical University of Munich (Germany), which is usually one prerequisite to be-
come a professor in a science discipline at a German university.
After working for eight years in academic research, he turned for eleven years to ap-
plied research in the “Society for Information and Documentation” (in German
Gesellschaft für Information und Dokumentation – GID), a governmental research or-
ganization which eventually was incorporated into the “Fraunhofer GMD National
Research Center for Information Technology,” and then he worked for eighteen years
in industrial research in a German Research Center and in Corporate Research of
The Dow Chemical Company as “R&D Operations Manager,” “Information Project
Leader” and “Specialist.”
He published widely in leading scientific journals and books in Germany, the US and
UK in organic and physical organic chemistry, physical chemistry, chemical physics
and quantum-chemistry, information science and sociology of science.
Technical reports in the organizations he worked for included topics in chemical infor-
mation and computer science, innovation research, “electronic publishing,” document
architectures and markup languages, General Systems Theory (GST), information
economy and information systems development.
Major recent thrusts with Dow included “intellectual asset management” (IAM), “com-
petitive intelligence” activities for R&D and new business development, the XML
computer (markup) language and its use for Web services, development and imple-
mentation of a “technology intelligence” system having a “patent system” as a core.
Simultaneously, he further developed and applied “Knowledge Discovery in Text Data-
bases” (KDT) methodologies and techniques for various “intelligence activities.”
Since several years he fills the role of an adjunct (in German Gastdozent) at the
Karlsruhe University branch of the Karlsruhe Institute of Technology (KIT) leading the
Technology Entrepreneurship Curriculum. 1
Table of Contents iii

CONTENTS

PREFACE.....................................................................................................................vii
How to Read and Use this Book..................................................................................xvi
APPROACH................................................................................................................xvii
1. CONTEXTUAL SETTINGS........................................................................................3
1.1 Setting the Stage.................................................................................................3
1.1.1 Technology Entrepreneurship and New Technology-Based Firms.............3
1.1.1.1 Entrepreneurship and Technology Entrepreneurship...............................8
1.1.1.2 New Technology-Based Firms and Research-Based Startups...............15
1.1.2 The Conceptual Skeleton of Entrepreneurship..........................................20
1.2 Systems, Change, Innovation and the Future...................................................32
1.2.1 General Systems Theory and Systems Thinking.......................................32
1.2.2 Outlining Relevant Systems for Technology Entrepreneurship.................78
1.2.3 Systems, Intelligence, and Learning..........................................................94
1.2.4 The Technology Entrepreneur in Capitalistic Systems............................100
1.2.5 Innovation, Technology, Competition and Growth...................................109
1.2.5.1 Innovation, Its Adoption and Technology Classes................................109
1.2.5.2 Aspects and Perspectives of Value.......................................................130
1.2.5.3 Industry, Markets, Growth and Competition..........................................137
1.2.6 The Science & Technology System, the Innovation System and New
Technology-Based Firms..................................................................................156
1.2.6.1 Differentiating Groups of Technology Entrepreneurs............................188
1.2.6.2 Technology Incubation, Science or Technology Parks and Clusters....197
1.2.6.3 Technology Transfer to Small and Medium-Sized Enterprises.............207
1.2.7 The Financial Subsystems in the US and Germany................................210
1.2.7.1 Financial Sources for Technology Entrepreneurship............................210
1.2.7.2 The Components of the Financing Subsystem for Technology
Entrepreneurship...............................................................................................223
1.2.7.3 Options for Financing New Technology Ventures.................................244
2. THE ENTREPRENEUR AND THE ENTREPRENEURIAL TEAM.........................255
2.1 The Entrepreneurial Personality......................................................................256
2.1.1 Personality and Systems Theory.............................................................256
2.1.2 Personality and Behavior.........................................................................257
2.1.2.1 Psychometric Approaches to Entrepreneurial Personality and Problem-
Solving...............................................................................................................272
2.1.2.2 Creativity, Imagination and Inspiration for Entrepreneurship................280
2.1.2.3 The Culture Factor................................................................................283