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BGPROCESS Report Summary

Project ID: 625377
Funded under: FP7-PEOPLE
Country: Estonia

Final Report Summary - BGPROCESS (Smart entrepreneurial process for knowledge society)

Entrepreneurial process (EP) lies at the heart of entrepreneurship. Entrepreneurship challenges are targeted to smart specialisation – next policy focus on the innovation and smart growth agenda of the Europe2020 strategy. Models of the entrepreneurial process are highly fragmented and are insufficient to create a general and distinct understanding of the entrepreneurial process. As a result, the models do not have enough explanatory or/and predictive power for academic or practical purposes. Therefore:
The general objective of the BGPROCESS project is to develop and validate a novel model of an entrepreneurial process for new venture creation.
The General Objective will be realized by achieving three Specific Objectives:
1. To conceptualize the new synthesized model of the entrepreneurial (venture creation) process, particularly for knowledge-driven globalizing new ventures (WP1).
2. To validate the model of a knowledge-driven entrepreneurial process using qualitative and quantitative methods (WP2).
3. To prepare the applications of the new model of the entrepreneurial process for academic and practical purposes, incl. training methodology and policy development targeted to the smart specialization in knowledge economy framework in a small country context (WP3).
Expected results:
• higher explanatory and predictive power of research of the entrepreneurial processes of accelerated internationalization by knowledge intensive “born global” SMEs;
• creation of reasoned and relevant policy, training and support system development for knowledge-driven high potential entrepreneurship/SMEs and new ventures to drive the economy thereof;
• the higher efficiency of the research and innovation, and intellectual property (IP) strategy implementation and technology/knowledge transfer, and partly, commercialization of research results of universities;
• a better understanding of the needs for support to the (globalizing) venture launch and development.
Besides, the outcomes are expected for R&D and innovation policy at the state and university level, but also for training materials of new venture creation and technology entrepreneurship.
In the first (outgoing) period of the project, the model of the entrepreneurial (venture creation) process was elaborated, developed further and validated. The model has been developed further in several conference papers. These papers disclose a dynamic stage model of the entrepreneurial (new venture creation) process, creates requirements on the stage of the entrepreneurial process, suggest maturity as the dimension linking the entrepreneurial process and journey, implement the entrepreneurial journey for disclosing the international new venture (INV) creation considering mechanisms of open innovation and entrepreneurial ecosystem. The main results of the model development are (1) dynamic stage model of the entrepreneurial process, (2) introduction of maturity dimension for the modeling of the entrepreneurial process and (3) formulation of criteria for the stage in a dynamic entrepreneurial process model. That result enabled integration of the entrepreneurial process with the temporal dimension – the entrepreneurial journey.
Model validation is devoted to qualitative research of the entrepreneurial process in the knowledge-driven/hi-tech SMEs. Qualitative and quantitative data on more than hundred knowledge-driven SMEs were collected from the public sources, commercial registry and partly by interviewing entrepreneurs. The results of the empirical research enabled integration of the temporal dimension of start-ups’ development with the model of the entrepreneurial process and journey. The model was proved using pattern match approach (Trochim 1989). The patterns of the entrepreneurial (start-up) process and journey of empirical (case) studies well matched with the suggested theoretical model. Findings of the model and suggestions for further studies are divided into three groups:
(1) understanding the content of the entrepreneurial process, (2) outcomes for an entrepreneurial pedagogy, and (3) entrepreneurship policy and support system.
Results of the project are disseminated in five journal articles, seven chapters for books published or being in the editing process, more than 13 conference papers and presentations, ten public seminars/conferences and seven lecture/study courses for students at master and doctoral levels. The model of the entrepreneurial process and the entrepreneurial journey is approved by the working group of Estonian universities (ten members involved in the implementation of entrepreneurship education/training program EETA led by the Estonian Ministry of Education and Research). The main approach of the project BGPROCESS is used for compilation of 25 cases for doctoral and master studies by the working group.
Part of the outcome of the project is a successful defense of two doctoral dissertations and launching the next doctoral projects. The practical outcome is the implementation of research results for the design of Technology Entrepreneurship courses targeted to master and doctoral students. The same study programs are adapted for the training of university personnel. New knowledge is also implemented for the development of University IdeaLab, spin-off, pre-incubation and technology transfer programs.
A book with an international team of contributors is prepared for the Routledge Publisher included into the schedule for 2018. The next book, covering the project, will be negotiated for finding a potential publisher in Fall 2017.

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