The Gatekeeper-Model of Innovation

Inhaltsverzeichnis (Table of Contents)

• PART I
• CHAPTER 1: INTRODUCTION
• 1.1 Context and Relevance
• 1.2 Objective of the Study
• PART II
• CHAPTER 2: THE INNOVATION PROCESS
• 2.1 Entrepreneurship and the Diffusion of Innovation
• 2.2 Systems Model of Innovation by Csikszentmihalyi
• 2.3 Investors in Innovation and Risk-Taking
• 2.4 The Venture Capital Business
• 2.5 Critical Summary and Conclusions
• CHAPTER 3: STRATEGY DIMENSION
• 3.1 Strategic Considerations of Venture Capitalists
• 3.2 Strategic Resources Approaches
• 3.2.1 Sustainable Competitive Advantage
• 3.2.2 Resource Dependence Approach
• 3.3 Sustainable Resource Management
• 3.4 Paradox Management
• 3.5 Critical Summary and Conclusions
• CHAPTER 4: THE TRUST PERSPECTIVE
• 4.1 Trust as a Concept
• 4.2 Models of Trust-Building
• 4.3 Trust-Control Duality
• 4.4 Levels of Trust
• 4.5 Critical Summary and Conclusions
• PART III
• CHAPTER 5: DEVELOPMENT OF A FRAMEWORK
• 5.1 Venture Capitalists as Gatekeepers
• 5.1.1 The Innovative Entrepreneur
• 5.1.2 The Leapfrog Concept of Innovations
• 5.1.3 Gatekeeper Mechanism
• 5.1.4 Value Creation of Innovation
• 5.1.5 Critical Summary and Conclusions
• 5.2 The Sustainability Dimension
• 5.2.1 Relationship between Shareholders and Entrepreneurs
• 5.2.2 Direct Survival Resources
• 5.2.3 Stakeholder Management
• 5.2.4 Indirect Survival Resources
• 5.2.5 Sustainability Circuit
• 5.2.6 Critical Summary and Conclusions
• 5.3 Trust-Control Balance
• 5.3.1 The Trust-Building Process
• 5.3.2 Active Trust
• 5.3.3 Shared Visions
• 5.3.4 Critical Summary and Conclusions
• CHAPTER 6: THE GATEKEEPER-MODEL AS AN INTEGRATIVE FRAMEWORK FOR ENTREPRENEURS AND VENTURE CAPITALISTS
• 6.1 An Integrative Framework
• 6.2 Summary of the Implications of the Integrative Framework for Entrepreneurs and Venture Capitalists
• 6.2.1 Entrepreneurs
• 6.2.2 Venture Capitalists
• 6.3 Concluding Remarks

Zielsetzung und Themenschwerpunkte (Objectives and Key Themes)

This study aims to develop an integrative framework for understanding the relationship between entrepreneurs and venture capitalists, emphasizing their interconnectedness and dependencies. The work explores the different stages of the innovation process and focuses on the crucial roles of strategic orientation and trust in this relationship.
• The Innovation Process: The study examines the stages involved in the development and diffusion of innovation, emphasizing the role of entrepreneurs and venture capitalists.
• Strategic Considerations: The study analyzes the strategic resources approaches utilized by venture capitalists, including sustainable competitive advantage, resource dependence, and sustainable resource management.
• Trust Perspective: The study explores the concept of trust as a critical element in the entrepreneur-venture capitalist relationship, analyzing models of trust-building and trust-control duality.
• Gatekeeper-Model: The study utilizes an adapted gatekeeper-model to provide a theoretical framework for understanding the relationship between both parties, analyzing the gatekeeper mechanism and its implications for value creation.
• Sustainability Dimension: The study investigates the role of sustainability in the entrepreneur-venture capitalist relationship, exploring direct and indirect survival resources, stakeholder management, and the sustainability circuit.

Zusammenfassung der Kapitel (Chapter Summaries)

• Chapter 1: Introduction: This chapter introduces the context and relevance of the study, focusing on the significance of entrepreneurs and venture capitalists in driving economic growth and technological change. The objective of the study is to develop an integrative framework that captures the complexities of the relationship between these two parties.
• Chapter 2: The Innovation Process: This chapter delves into the theoretical underpinnings of entrepreneurship and the diffusion of innovation, examining various models of innovation, including the systems model of Csikszentmihalyi. It explores the role of investors in innovation and risk-taking, highlighting the specific characteristics of venture capital firms.
• Chapter 3: Strategy Dimension: This chapter examines the strategic considerations of venture capitalists, exploring different strategic resource approaches such as sustainable competitive advantage, resource dependence, and sustainable resource management. The importance of paradox management in achieving sustainable growth is also discussed.
• Chapter 4: The Trust Perspective: This chapter focuses on the concept of trust in the entrepreneur-venture capitalist relationship, examining various models of trust-building and exploring the dynamics of trust-control duality. Different levels of trust are analyzed, and the chapter concludes with a critical summary of the key insights.
• Chapter 5: Development of a Framework: This chapter introduces the adapted gatekeeper-model, highlighting its usefulness in providing a theoretical framework for the relationship between entrepreneurs and venture capitalists. The model is applied to analyze the gatekeeper mechanism, value creation, and the sustainability dimension of the relationship.

Schlüsselwörter (Keywords)

This study focuses on the complex relationship between entrepreneurs and venture capitalists, emphasizing the importance of innovation, strategic orientation, and trust in driving successful business outcomes. Key terms include entrepreneurship, venture capital, gatekeeper-model, business model, start-up, diffusion of innovation, technological change, leapfrog concept, value creation, Csikszentmihalyi, systems model, creativity, trust, sustainability, and strategic management.

Frequently Asked Questions

What is the "Gatekeeper-Model" in innovation?

The Gatekeeper-Model, adapted from Csikszentmihalyi, describes the role of certain actors (like venture capitalists) who control the flow of resources needed to realize and diffuse innovations.

Why are venture capitalists considered gatekeepers?

They provide the financial "bottleneck resource" (capital) that entrepreneurs need to exploit undetected opportunities and bring new products or services to the market.

How does trust affect the relationship between entrepreneurs and investors?

Trust is a crucial variable for long-term success. The study explores the "Trust-Control Duality," where balancing active trust with necessary oversight is essential for a sustainable partnership.

What are the key dimensions of the innovation framework developed in this study?

The framework focuses on three main dimensions: the innovation process, the strategy dimension (resource management), and the trust perspective.

What is the "Leapfrog Concept" mentioned in the study?

The leapfrog concept refers to innovations that allow a company or economy to skip traditional stages of development and move directly to more advanced technological solutions.