A Model for the Development of Small High‐Technology Businesses Based on Case Studies from an Incubator

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Abstract
Alf Scherer and D. W. McDonald examine several emerging companies that are currently being assisted by an incubator for small, technology‐based businesses. The case studies illustrate how the short‐ and long‐term responses to new technical and market opportunities need to be clearly separated and prioritized. A common failing observed is the underestimation of the time and resources required to successfully commercialize the first product before moving on to the development of second‐generation products. A multistep process model of business and product development was found to be a useful tool in diagnosing the status of the start‐up companies, as well as identifying future decision points and alternative courses of action.

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