International Journal of Advancements in Research & Technology, Volume 3, Issue 12, December -2014
ISSN 2278-7763
Author :
31
Sharma, Prakash Research Scholar: Dr D Y Patil Vidyapeeth,
Bhattacharya, Kunal Professor Research and Collaboration, Dr D Y Patil
Vidyapeeth
Title :
Strategic Dimensions of Corporate Incubators and Accelerators for Intrapreneur
Success - PASSION FRAMEWORK MODEL
Affiliation :
Dr. D. Y. PATIL VIDYAPEETH'S, Global Business School & Research
Centre , Mumbai-Bangalore Highway, Tathawade, Pune-411 033 India.
Email address :
passionit.prakashsharma@gmail.com, bkunal@dpu.edu.in
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Mobile No : +918390234456
:
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3 Introduction
This paper explores the strategic dimensions of Corporate
Incubators for Intrapreneur Success which will facilitate
in retention of key resources who decide to become
entrepreneur in mid path of their career to pursue their
creative instincts and also foster entrepreneurship spirit
within corporates for curbing competition and value
adding the business growth through focused
decentralization. This also helps to generate job
opportunities and impact national economy.
3.1. Definition
Corporate Entrepreneurship is the buzz word in days
where there are incubators set within a corporate to
identify leaders within organization who can create profit
centers and execute their business unit independently.
This results in bringing innovation culture and also help
in retention strategies by chalking growth plan to the
highly ambitious staff who could be wishing to evolve
independently. It has been argued that new and small
ventures typically fail due to the lack of managerial skills
and/or access to high-risk capital —particularly in the
case of high-tech ventures (Yadollah Mehralizadeh n.d.)
Intrapreneur is a person within a corporates who takes
direct responsibility for turning an idea into a profitable
finished product through assertive risk-taking and
innovation. The organization needs to take calculated
risk in investing to an Intrapreneur’s idea which may or
may not fit into organization strategy.
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The research paper through an analysis of over 25
international samples will acquaint industries and
government with business incubation trends within
organizations and relevant services; processes and
outcomes and will also analyze factors which effect
corporate incubator, venture capitalists and incubates
success and will demonstrate a framework
(Vanderstraeten, Matthyssens and Paul n.d.) for
corporate incubators to measure and control their
delivery performances. ( (Cornelius and Bhabhra 2003)
(Chirgui 2012) (Duff 2011)
2 Keywords:
Entrepreneur, Academic Entrepreneurs, Intrapreneurs,
Investors, Corporate Venture, PASSION Framework
Entrepreneur is a person who regardless of risks decides
to venture a new business and who may use friends,
relatives, social network, angel network, venture
network, banks, institutions, government schemes to
raise funds for the venture. To simplify understanding
for this paper we term Entrepreneur as a person who has
already established a Corporate for a certain period.
Strategic Dimensions are the parameters which are
needed for Intrapreneurs be successful in their ventures.
Incubator is a space where a startup can execute
business. Corporate Incubator is an office space
provided by the company to Intrepreneurs to convert
their ideas to a product or service which can be used for
business growth.
Social Capital is the funds raised through network
beyond corporate investments
Likert Scale is a psychometric scale involved in research
that employs questionnaire
Factor Analysis is a statistical method used to describe
variability among observed, correlated variables in
terms of potentially lower number of unobserved
variables called factors.
3.2. Significance of Study
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H2
Corporate
Intrapreneur
Programs
independent of Incubator Involvement.
Corporate Intrapreneurship needs to be globally
promoted in organizations for following reasons:
a.
b.
An organization which gets listed in stock
exchange becomes answerable to the investors
which include key promoters, financial
institutions, bankers and above all the common
man who invests in stocks or in mutual funds
which re-invest in corporates. If the managerial
staff compositions get upset, there is a direct
impact on the stock which depletes the investor
wealth. Hence there is a need to cultivate
entrepreneur spirit within few potential
employees who can start a venture and grow the
same independently there by growing the
business. (D V R Seshadri 2008))
Industry interfaces are of utmost important to
groom students for job opportunities. This is
possible
only
through
academic
entrepreneurship (Levine 2009) it provides a
platform for academicians, students and
industry to research on innovations in existing
product or create new products for society
benefits. Intrapreneurs can be identified to tie
up with academic entrepreneurs and carve a
roadmap for the chosen product development or
manufacturing in niche technology which could
have global impact (Lewis, Anderson and
Molnar 2011) (Maital, et al. 2008)
4 Objectives
ii.
iii.
To acquaint industries and government
with business incubation trends;
services; processes and outcomes.
To do analysis of factors which effect
incubator, venture capitalists and
incubates success? Venture Capitalists
in Corporate World are the company
promoters and Board of Directors.
To provide a framework for incubators
to measure and control their delivery
performances.
Hypothesis
H1
Corporate
Intrapreneur
Programs
independent of Academic Involvement.
Copyright © 2014 SciResPub.
H3
Corporate
Intrapreneur
Programs
independent of Venture Capital funding
H4 Venture Capital funding independent of
Incubators being set
5
Conceptual Framework
PASSION Model for Implementing Incubation
Programs
PASSION – A strong desire and zeal to achieve an object,
mold it and seek security from the object. As an
entrepreneur, a resource needs to have passion and zeal
to convert dream to an idea and be involved in process of
converting the idea to a business entity and grow the
same. In this quest, entrepreneur hires competent people;
seeks stakeholders and mold the entity to fulfil the vision
and mission laid for the organization. Stability and
Security come when cash flows get stable and assured
revenue comes in. Admist this there could be employees
who begin getting insecure and don’t foresee themselves
growing and decide to venture out of the organization to
build products and services complimenting /
supplementing the corporate product or service or may
venture into a new arena altogether. This results in eco
system of recruitment, hiring and again needing cycle
time to bring the department to focus. Retaining the
talented resource can emerge from intrapreneurship
model imbibed within corporates. (Akçomak 2012)
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The research will provide an initiative roadmap
i.
33
Setting up Incubator
Corporate Incubators or Angel Network Incubators can
be setup by implementing PASSION processes in a span
of two years and at same time identify potential
Intrapreneurs and Entrepreneurs who get nurtured to be
groomed on all the processes in parallel to assisting them
in making business plan and assisting them in pilot
testing to grow their venture. The model refers to some
of best practices already implemented in corporates
focusing on intrapreneurship programs like ISO 9001,
27001, 20000 and SEI CMMi Maturity Model.
PASSION Model aligns to COBIT to facilitate
technology roadmaps for innovative product and services
emerging out of intrapreneurship program. Level 1, 2, 3
and 4 process areas can be implemented in incubator in
year 1. Level 5, 6 and 7 process areas be implemented in
year 2
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34
PASSION FRAMEWORK as shown in table 1
considers all dimensions which are vital for Intrapreneur
/ Entrepreneur success.
Maturi
ty
Level
Process Areas
Accelerat
orStartup
Perspecti
ve
Incubat
orCorpor
ate
Perspec
tive
Knowle
dge
Manage
ment
Incubato
rAcademi
c
Perspecti
ve
Research
Managem
ent
Entrepreneur
Management
Incubator-Venture
Capitalist
Perspective
1
P
robing
Idea
Managem
ent
2
A cting
Contract
Managem
ent
Delivery
Manage
ment
Support
Managem
ent
Social Responsibility
Management
3
S copng
Finance
Manage
ment
Project
Managem
ent
Integration
Management
4
S etting
Scope
Managem
ent
Operation
s
Managem
ent
HR
Manage
ment
Security
Managem
ent
Process Management
5
I
nnovati
ng
Innovatio
n
Managem
ent
Complia
nce
Manage
ment
Governan
ce
Managem
ent
Marketin
g
Managem
ent
Capacit
y
Manage
ment
Perform
ance
Manage
ment
6
O
wning
7
N
urturin
g
Corporates who understand the product life cycle well
understand that what rises will always tend to fall and to ensure
the product or service revenue stream keeps growing, it is time
to introduce new add-ons, new features, new complimentary
and supplementary products and service and increase the net
worth of the product or service offering.
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Technolo
gy
Transfer
Managem
ent
Infrastruc
ture
Managem
ent
Partnershi
p
Managem
ent
Risk Management
Mergers and
Acquisition
Management
IPO Management
The incubators can use different perspectives to prepare their
training curriculum as illustrated in Table 1
1.
2.
3.
4.
Corporate Intrapreneurship is in existence since over two
decades and has been imbibed in many international
organizations to a large extent. In 1985 Pinchot coined the term
‘intrapreneurship’, short for intra-corporate ( (Hill 2003)).
Innovation is necessary to keep organizations moving in the
competitive world where there is a continuous requirement to
optimize cost and maximize profit. (Bhide, The Venturesome
Economy: How Innovation Sustains Prosperity in a More
Connected World 2009) (Bhide, What holds back Bangalore
Business 2004) Senior Resources in company may tend to get
stagnated and may not challenge themselves to think, act and
react to market demands and an organization may get saddled
with their core management team not thinking beyond their
present scope of roles and responsibilities. (Noor Hazlina
Ahmad n.d.) The owners face potential competitors who come
and penetrate into client companies thereby leading the
corporate down fall over a period of time. (Bridg and Missouri
2003).
Accelerator – Startup for Entrepreneurs
Incubator – Corporates for Intrapreneurs
Incubator – Academics for Academic Entrepreneurs
Incubator – Venture Capitalist for Finance
Entrepreneurs
For a corporate intrapreneurship program both Accelerator and
Incubator-Corporate processes need to be implemented. For an
Academic entrepreneurship program both Accelerator and
Incubator-Academic processes need to be implemented
The potential to groom corporate managers to be Intrapreneur is
huge and the dimensions would also be useful to entrepreneurs
who emerge either from corporate world or social charity
institutes or Non Government Organization or Academics to
hawn their skillsets and understand the right combinator needed
for entrepreneur or intrapreneur success. (Bridg and Missouri
2003). This would facilitate growth in employment
opportunities boosting national economy. (Mubarak and AlMubaraki 2011)
There is a trend for highly paid salaried employees to join angel
networks and fund entrepreneurs which may be because there is
not enough intrapreneurship opportunities within their
companies
The study includes twenty five international intrapreneurs and
corporate culture and their approach to incubating ventures
(Akçomak 2012) within the boundaries of corporate vision,
mission and strategy. The study further links those parameters
to PASSION MODEL – a seven stage model for
CORPORATES. PASSION Model is evolved through
dedicated research on entrepreneurship for over decade.
7
For Incubator – VC program specialized processes related to
merger and acquisitions, IPO, corporate social responsibilities,
risk management and entrepreneur management needs to be
covered as this is where a deal can get executed with help of
experienced advisors
6
Research Methodology
The research focuses on studying Maslow Theory of
Motivation – Table 2, Adam’s Equity Theory – Table 3 and
Leon Walras’s General Equilibrium Theory. Wikipedia links
mentioned in Reference Section of this paper. There is a need
to have some mediating principles between Discovery and
Creation Theory (Sharon Alvarez n.d.) and intuitive principles
of owning and nurturing business.
Literature Review
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International Journal of Advancements in Research & Technology, Volume 3, Issue 12, December -2014
ISSN 2278-7763
Table 2 Maslow
Motivation
Theory
Table 3 - John
Adam’s Equity Theory
PASSION Framework is evolved from the above theories to
create a synergetic-reflexive-equilibrium model as shown in
Table 4 where the dreams, motivation and ideas of an
entrepreneur or an intrapreneur is nurtured either in incubators
or corporates to generate innovative products and services..
(Luke 2005)
Table 4 - PASSIONIT MODEL PASSION FRAMEWORK
35
Sony
Mondragon
Ericson
3M
TNT Express
ICICI
Sun Micro Systems
Minolta
Al fatah
Kodak
Mahindra IT
Google
W L Gore and
Associates
Godrej
Toyata
Microsoft
TATA
Shell
Reliance
Martins Group
IBM
Glaxo
SAMSUNG
Alkatel Lucent
Menainc
All statistical tests have been performed using free online web
tools
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8
Research Model
Two main streams of entrepreneurship programs emerge a) for
entrepreneurs and b) for academic entrepreneurs and both these
programs align to corporate intrapreneurship program for
successful exits to investors as explained in table 5
Table 5
Road Map for Entrepreneurs through
Accelerators and Academic Institute for
assured success
Reflective Equilibrium– John Rawl Theory of
Justice
Entrepren
eur Accelerat
or
Analysis of PASSIONIT Model
Factor analysis has been performed by pilot survey using
questionnaire to identify correlation between various processes
within PASSION model. Questionnaire is available for view in
the link http://www.surveymonkey.com/s/CSTYXDM
Entrepren
eur –
Academic
Institute
Questionnaire is designed using five point Likert Scale with
following ranking
1 – Least Important, 2 – Important, 3 - Very Important, 4 Critical 5 - Don’t Know
Corporate
Intrapren
eurship
Corporat
e
Intrapren
eurship
Venture
Capital
Incubatio
n
Program
Factor Analysis between various processes within PASSION
model is accomplished using
http://www.wessa.net/rwasp_factor_analysis.wasp
Presently only exploratory factor analysis (EFA) is used to
identify complex interrelationship among process areas which
are part of unified dimensions in PASSION Model.
Corporate-Intrapreneurship Case Studies
Copyright © 2014 SciResPub.
9
Results
Factor Analysis of PASSION Model suggests that there is
strong correlationship of process areas which need to be
understood and implemented by entrepreneurs, corporates,
academic institutes and venture capitalist for successful
incubation programs.
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36
T – Tests have been conducted to analyze the data of 25
intrapreneur success stories or intrapreneur initiatives within
organization and H1 H2 H3 null hypothesis is rejected and for H4
null hypothesis is accepted
who have got investments by Angel Investors and Venture
Capitalists.
Results are attached as annexures and table 6 provides the
research analysis and results.
There is a recognized need for researchers to have
entrepreneurial skills and the confidence to contribute to
organizational innovation and growth. The PASSION Model
can be used in Academic Institutes and further nurtured in
Corporates for fostering spirit of entrepreneurship within
organization and build a strong Idea and Knowledge
Management process to develop products or services aligning to
Corporate Strategy.
Intrapreneur Assessment Parameters
Following parameters emerged from studying various
Intrapreneurs in companies as shown in Table 7.
Table 7
Ownership
Finance
Knowledge
Network
Innovation
20% work time available
Can identify need
Innovation
Natural leadership
Experimentation
10 Discussions
12 Conclusions
13 Further Research
Empowerment
Patience
Corporate responsibility
Seeks External Advisory
Technology transfer know how
Patenting knowhow
Research Aptitude
Academic involvement
Quality
Corporate Social Responsibility
For the model to be proven further will need more research on
various dimensions of framework or the total framework can be
used by organizations to evaluate intrapreneurship initiatives.
Cluster wise focus studies can also be taken by researchers to
evaluate the framework efficiency in various industry verticals.
14 Managerial Implications
PASSION Framework can be used by incubators and
accelerators to evolve more successful entrepreneurs and give
return on investments to the investors.
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It is observed that majority of Intrapreneurs don’t become Angel
Investors or traces of those records not available and this brings
a clear distinction between INTRAPRENEURS and
ENTREPRENEURS
Entrepreneurs are individuals who take risks and decide to do
something of own without bothering of consequences and need
to rely on their product or services and funds from investors for
accelerated growth and may need active support from
accelerator and incubator programs.
Intrapreneurs are individuals who take calculated risks and
decide to do something of own within boundaries of company
rules and regulations and get ready social capital support for the
same becuse of company reputation built over decades.
It is also observed that the equity participation of such
Intrapreneur ventures may vary between 5 to 20% and maybe
lesser too depending on organization strategy to Intrapreneur
initiatives and hence many of the potential leaders who don’t
become Intrapreneurs end up being Entrepreneurs.
A future study is being conducted on entrepreneurs who are part
of incubation programs to evaluate their success considering
PASSION Dimensions. It would also be good if some
incubators begin setting up processes using the PASSION
MODEL and come up with their findings to fine tune the model
for usage.
11 Limitations
15 Bibliography
Akçomak, Semih. Incubators as tool for entrepreneurship
promotion. Netherland: Department of Economics and
UNU-MERIT, Maastricht University & CPB Netherland
Bureau of Economic Policy Analysis, 2012.
Bhide, Amar. "The Venturesome Economy: How
Innovation Sustains Prosperity in a More Connected
World." Journal of Applied Corporate Finance • Volume
21 Number 1 (Morgan Stanley Publication), 2009: 16.
Bhide, Amar. "What holds back Bangalore Business."
Coulombia Business School, 2004: 4-5.
Bridg, Gwen Richtermeyer, and University of Missouri.
Problems Entrepreneur Face . BRIDG Researching Small
Business and Entrepreneurship, 2003.
Chirgui, Zouhaier. "Assessing the Performance of Business
Incubators: Recent France Evidence." Business and
Management Research sciedu.ca, 2012: 15.
Cornelius, B, and R.K. Bhabhra. "Cracks in the
Egg:improving performance measures in business
incubator research." Small Enterprise Association of
Australia and New Zealand 16th annual Conference,
Ballarat, 28 Sept-1 Oct, 2003. Wollongong: University of
Ballarat, 2003. 19.
The present research is limited to study of only 25 Intrapreneur
samples though there has been a study of over 100 entrepreneurs
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D V R Seshadri, Arbind Tripathy. "Innovation through
Intrapreneurship:." 2008.
Duff, Andrew. Best Practices in Business Incubation
Management. Booragoon, Australia: AUSTEP Strategic
Partnering Pty Ltd, 2011.
Hill, Marguerite Elizabeth. The Development of Instrument
to Measure Intrapreneurship. PHD Thesis, South Africa:
Rhodes University, 2003.
Levine, Mark. The False Promise of the Entrepreneurial
University Selling Academic Commercialism as an
“Engine” of Economic Development. Milwaukee:
University of Wisconsin‐Milwaukee, 2009.
Lewis, David A, Elsie Harper Anderson, and Lawrence A
Molnar. Incubating Success.Incubation Best Practices That
Lead to Successful New Ventures. Michigan: University of
Michigan, Institute for Research on Labor, Employment,
and the Economy, 2011.
Luke, Belinda. "Uncovering Strategic Entrepreneurship An examination of theory and practice." 2005.
37
successful and failure of entrepreneurs of small industrial
business. Research Paper, SSRN, n.d.
16 References
i.
ii.
iii.
iv.
v.
vi.
vii.
viii.
http://www.slideshare.net/Jeanyveshuwart/intraprene
urship-at-alcatellucent
http://www.innovationexcellence.com/blog/2013/01/
23/how-dreamworks-linkedin-and-google-arebuilding-intrapreneurial-cultures-to-drive-innovationcompetitive-advantage-and-customer-experience/
http://www.intrapreneurshipinstitute.com/resources/i
ntrapreneurship-case-study-googles-intrapreneurshipprogram-is-very-successful/
http://www.forbes.com/sites/danschawbel/2013/09/0
9/why-companies-want-you-to-become-anintrapreneur/
http://infospace.ischool.syr.edu/2012/06/25/intrapren
eurship-what-who-and-why-its-important/
http://www.growthinstitute.in/emagazine/may11/strat
egy.html
http://www.crunchbase.com/financial-organization/
http://www.changemakers.com/intrapreneurs/entries/
empowering-innovation-culture-shell-usingmeditation
http://www.entrepriseglobale.biz/wpcontent/uploads/2012/10/Press-ReleaseIntrapreneurship-2012.pdf
http://www.cbsnews.com/8301-505125_16251196890/how-they-did-it-seven-intrapreneursuccess-stories/
http://www.gore.com/en_xx/
http://www.changemakers.com/intrapreneurs/entries/l
ow-cost-diagnostics-africa
http://articles.economictimes.indiatimes.com/201307-02/news/40329321_1_adi-godrej-godrej-sara-leegodrej-aadhaar
http://www.alfatehcompany.com/
http://www.cbsnews.com/8301-505125_16251196890/how-they-did-it-seven-intrapreneursuccess-stories/
http://www.utdallas.edu/~chasteen/Reinventing%20t
he%20intrapreneur.htm
http://en.wikipedia.org/wiki/Maslow's_hierarchy_of_
needs
http://en.wikipedia.org/wiki/Equity_theory
http://en.wikipedia.org/wiki/General_equilibrium_the
ory
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Maital, Shlomo, Shmuel Ravid, D V R Seshadri, and Alon
Dumanis. Toward a Grounded Theory of Effective
Business Incubation. Vikalpa, 2008.
Mubarak, Hanadi, and Al-Mubaraki. The incubators
economic indicators: Mixed approaches. Kuwait: Journal
of Case Research in Business and Economics, 2011.
ix.
x.
xi.
xii.
Noor Hazlina Ahmad, Aizzat Mohd Nasurdin and Siti
Rohaida Mohamed Zainal. Nurturing Intrapreneurship to
Enhance Job Performance. University Sains Malaysia, n.d.
xiii.
Sharon Alvarez, Jay Barnley. Discovery and creation:
alternative theories of entrepreneurial action. 2007, n.d.
xiv.
xv.
Vanderstraeten, Johanna, Matthyssens, and Paul.
Measuring the performance of business incubators A
critical analysis of effectiveness approaches and
performance measurement systems. Belgium: University of
Antwerp, n.d.
Yadollah Mehralizadeh, Hossain Sajady,Ahmad
Zandavanian,Yaser Timoury. A study of factors related to
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xvi.
xvii.
xviii.
xix.
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Table 6
Research Analysis
Annex
Annex 1
Factor Analysis
Factor Analysis for PASSION Model
for Probing-Acting-Scoping
Dimensions
Focus Area
Accelerator
Selective Inferences
Entrepreneur and Scope
Management becomes critical
success factors
Annex 2
Factor Analysis for PASSION Model
for Setting-Innovating-OwningNurturing Dimensions
Incubator
Annex 3
Factor Analysis for PASSION MODEL
- Probing-Innovation-OwningNurturing Dimensions
Venture Capitalist
Annex 4
Factor Analysis for PASSION MODEL
– Probing and Innovation Dimensions
Academic Institute
Annex 5
For Accelerators and Academic
Institutes interface with Corporates
Annex 6
Factor Analysis For Corporate
interfacing Incubators, Academic
Institutes and Venture Capitalists
Corporate-Intrapreneurship
Initiatives
Annex 7
H1
Corporate Intrapreneur
Programs independent of Academic
Involvement.
Academic Entrepreneurship
opportunities for Corporate
Intrapreneurship programs
H2
Corporate Intrapreneur
Programs independent of Incubator
Involvement.
Independent Accelerator and
Incubator opportunities for
Corporate Intrapreneurship
programs
H3
Corporate Intrapreneur
Programs independent of Venture
Capital funding
Venture Capital focused
incubation opportunities for
successful Corporate
Intrapreneurship programs
H4
Venture Capital funding
independent of Incubators being set
Venture Capital funding
inferences with respect to
incubators being set.
Governance Management, Partner
Management and Innovation
Management becomes critical
success factors
Innovation, Infrastructure,
Performance, Risk Management
and Entrepreneur Management
become critical success factors
Innovation Management,
Technology Transfer and Risk
Management becomes important
factor
Innovation Management,
Technology Transfer Management,
Performance Management,
Security Management, Risk
Management, Communication
Management, Marketing
Management become important
factors
Idea Management, Technology
Transfer Management, Operations
Management
Project Management
Infrastructure Management
Security Management
Risk Management become
important factor
There is a definite involvement of
researcher’s, academicians within
Corporate Framework leading to
Corporate Intrapreneurship success
programs
There is a need for more incubators
and accelerator programs to tie up
with corporate ventures to help
entrepreneurs succeed by involving
social network / other networks
already established by corporate
(Social Capital)
There is a need for specialized
incubation programs for successful
entrepreneurs / intrapreneurs who
wish to succeed further to give
better ROI to VCs for successful
exits, merger and acquisition
Venture capital funding is
irrespective of entrepreneurs being
incubated within companies or
external so any successful
entrepreneur can get VC funded if
growth visible.
38
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39
Globsl Intapreneur Distribution is shown in table 8
Intrapreneur distribution
15%
31%
8%
4%
42%
South East Asian Countries
North America
South America
MENA
Europe
17 Online Only Appendix
Annex 1 Factor Analysis for PASSION Model
Annex 2 Factor Analysis for PASSION Model for
For Probing-Acting-Scoping Dimensions
Setting-Innovating-Owning-Nurturing Dimensions
For Accelerator Programs
For Incubators
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Rotated Factor Loadings
Variables
Factor1
IM
0.008
KM
RM
EM
0.115
0.004
-0.087
Factor2
Factor3
-0.054
-0.339
-0.785
0.813
-0.172
0.503
DM
0.684
-0.016
0.532
SM
0.267
0.191
0.625
SCM
FM
0.804
0.523
-0.303
-0.106
0.572
COMM
-0.208
0.446
-0.09
0.681
TTM
0.73
0.233
-0.066
0.491
RSM
0.187
-0.161
0.222
0.869
GM
0.743
0.032
0.071
0.024
CAPM
0.098
0.611
0.203
0.135
INFM
0.27
0.602
0.17
0.016
MAM
0.846
0.281
-0.035
-0.142
MRM
0.598
-0.255
0.429
0.162
PERFM
0.038
0.02
0.883
0.041
PARTM
0.643
0.479
0.146
-0.066
IPOM
0.159
0.6
-0.112
-0.142
0.121
-0.068
-0.473
PM
0.663
0.542
-0.069
INTM
0.671
0.371
-0.062
Copyright © 2014 SciResPub.
0.171
0.546
-0.085
0.465
-0.009
-0.165
0.636
0.514
0.597
-0.322
CM
SRM
INVM
IJOART
International Journal of Advancements in Research & Technology, Volume 3, Issue 12, December -2014
ISSN 2278-7763
Annex 3 Factor Analysis for PASSION MODEL - ProbingInnovation-Owning-Nurturing Dimensions
40
Annex 4 Factor Analysis for PASSION MODEL – Probing and Innovation
Dimensions
For Venture Capitalist
For Academic Institutes
Rotated Factor Loadings
Brow ser Blue - Charts White
Variables
Rotated Factor Loadings
Factor1
Factor2
Factor1 Factor2 Factor3 Factor4
IM
0.444
0.538
IM
0.218
0.014
KM
0.023
0.694
KM
0.04
-0.334 -0.624 -0.219
RM
0.37
-0.329
RM
0.559
0.337
0.398
-0.12
EM
-0.137
0.422
EM
0.011
0.227
0.006
-0.718
INVM
0.894
-0.078
INVM
0.878
0.071
-0.009 0.234
COMM
-0.086 0.343
0.049
COMM
0.248
-0.683
TTM
0.662
0.457
-0.292 0.193
TTM
0.819
0.027
RSM
0.6
-0.06
0.079
RSM
0.72
-0.377
GM
0.547
0.456
-0.135 -0.12
CAPM
-0.035 0.654
0.266
0.133
INFM
0.063
0.777
0.064
0.062
MAM
0.512
0.578
-0.096 -0.402
MRM
0.827
-0.141 0.084
-0.261
PERFM
0.286
-0.025 0.862
0.026
PARTM
0.323
0.703
0.252
-0.254
IPOM
0.022
0.412
-0.04
-0.011
Variables
-0.733 0.074
0.812
IJOART
Copyright © 2014 SciResPub.
0.619
IJOART
International Journal of Advancements in Research & Technology, Volume 3, Issue 12, December -2014
ISSN 2278-7763
41
Annex 5 Factor Analysis of PASSION MODEL (ProbingInnovation-Setting- Ownership-Nurturing)
Annex 6 Factor Analysis of PASSION MODEL (Includes all
Strategic Dimensions)
For Accelerators and Academic Institutes interface with
Corporates
For Corporate interfacing Incubators, Academic Institutes
and Venture Capitalists
Rotated Factor Loadings
Rotated Factor Loadings
Factor’
Variables
Factor1 Factor2
Factor3
Factor5
4
Factor Factor’ Factor Factor Factor Factor Factor
Variables
1
2
3
4
5
6
7
IM
0.14
-0.379
0.107
0.078
0.085
0.174
-0.762
KM
0.041
-0.261
-0.27
-0.337 -0.126 0.669
-0.024
0.055
IM
0.255
-0.125
0.074
0.649
0.006
KM
0.05
-0.246
-0.214
0.536
-0.596
RM
0.553
0.219
-0.035
-0.266
0.541
RM
0.534
0.355
0.35
EM
0.039
0.18
-0.733
0.033
0.004
EM
0.339
-0.146
-0.225 0.286
INVM
0.844
0.087
0.332
0.059
0.136
INVM
0.614
0.207
0.348
-0.179 0.402
0.138
COMM -0.222
0.42
0.764
0.081
0.086
COMM -0.059 -0.122
0.071
0.259
0.795
-0.158 0.389
TTM
0.602
0.495
0.192
0.402
-0.038
TTM
0.76
-0.029
0.089
0.126
0.402
0.283
0.087
RSM
0.491
0.05
0.655
-0.026
-0.051
RSM
0.251
0.181
-0.065 0.033
0.772
0.106
-0.152
SCM
0.022
0.365
0.691
0.249
FM
0.59
0.208
PM
0.355
0.555
INTM
0.209
0.705
GM
0.545
0.352
CAPM
-0.062
0.766
INFM
0.048
MAM
MRM
IJOART
0.014
-0.408 -0.222
-0.598 0.072
0.163
-0.225
0.382
0.204
-0.659
SCM
-0.042 -0.128
0.268
0.146
0.41
-0.314
-0.086
-0.534
FM
0.326
0.482
0.042
0.075
-0.231 0.619
-0.213
0.204
-0.281
-0.046
PM
0.17
0.345
0.608
0.419
0.114
0.134
-0.088
0.393
-0.208
-0.103
INTM
0.164
0.393
0.326
0.49
0.449
0.09
0.171
-0.145
0.238
0.2
GM
0.71
0.103
-0.17
0.232
0.093
-0.074 -0.35
CAPM
0.114
0.218
0.095
0.683
0.126
-0.039 0.184
0.029
-0.212
-0.004
INFM
0.265
0.077
0.118
0.821
0.023
-0.139 -0.134
0.743
-0.052
0.019
0.198
MAM
0.878
-0.02
0.096
0.097
-0.21
-0.117 0.138
0.506
0.427
-0.382
0.251
0.385
MRM
0.534
0.452
0.104
-0.204 -0.031 0.338
0.84
-0.044
-0.148
-0.117
-0.129
PERFM 0.028
0.886
0.027
0.094
0.024
PARTM 0.691
0.133
0.111
0.344
-0.117 -0.024 0.455
PERFM 0.323
0.163
0.044
-0.864
-0.009
IPOM
0.287
-0.053
0.501
-0.209 -0.058 -0.439 0.187
PARTM 0.292
0.719
-0.281
-0.061
0.16
CM
0.125
-0.01
0.261
0.308
0.194
0.296
0.717
IPOM
0.192
0.028
0.155
0.59
DM
-0.149 0.097
0.326
0.672
-0.17
0.395
0.324
SM
0.006
-0.555
0.423
0.486
-0.106 -0.002 -0.053
SRM
0.041
-0.072
0.799
0.09
0.029
0.131
OM
-0.056 0.724
0.141
0.221
0.053
-0.119 0.089
HM
0.116
0.44
0.64
0.196
-0.095 -0.048 0.237
SECM
-0.02
-0.029
0.708
0.199
0.236
-0.199 0.108
0.758
-0.026 0.153
0.195
0.116
0.038
PROCM 0.381
Copyright © 2014 SciResPub.
-0.224
-0.107 0.152
-0.063
-0.002
IJOART
International Journal of Advancements in Research & Technology, Volume 3, Issue 12, December -2014
ISSN 2278-7763
42
Annex 7
H1
Corporate Intrapreneur Programs independent of Academic
Involvement.
The results of an unpaired t-test performed at 00:30 on 22SEP-2013 t=2.45
sdev=0.289 degrees of freedom = 48
The probability of this result, assuming the null hypothesis, is
0.018
H2
Corporate Intrapreneur Programs independent of Incubator
Involvement.
The results of an unpaired t-test performed at 00:34 on 22SEP-2013
t=2.75
sdev=0.308 degrees of freedom = 48 The probability of this
result, assuming the null hypothesis, is 0.0083
H3
IJOART
Corporate Intrapreneur Programs independent of Venture
Capital funding
The results of an unpaired t-test performed at 00:37 on 22SEP-2013
t=2.14
sdev=0.265
degrees of freedom = 48 The probability of this result,
assuming the null hypothesis, is 0.038
H4
Venture Capital funding independent of Incubators being set
The T-value is 0.699544. The P-Value is 0.487735. The result
is not significant at p < 0.05.
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IJOART