Key success factors for turning a high technology startup into a commercial success: A case study of a semiconductor startup
(2021) MIOM05 20211Production Management
- Abstract
- While there have been numerous research papers defining and discussing high technology startup success, there is a lack of unity what the recipe for success is. Due to lack of market orientation being one of the most common reasons for startup failure, combined with the essentiality of having a strong technology base in a high technology environment, there is an interest to study their intersection also due to confine previous research in this area. Hence, the main purpose of this master thesis is to identify, categorize and understand key success factors of transforming a high technology startup from a pure innovation-focused firm to a market and technology-focused organization to ensure a sustainable competitive advantage. The study was... (More)
- While there have been numerous research papers defining and discussing high technology startup success, there is a lack of unity what the recipe for success is. Due to lack of market orientation being one of the most common reasons for startup failure, combined with the essentiality of having a strong technology base in a high technology environment, there is an interest to study their intersection also due to confine previous research in this area. Hence, the main purpose of this master thesis is to identify, categorize and understand key success factors of transforming a high technology startup from a pure innovation-focused firm to a market and technology-focused organization to ensure a sustainable competitive advantage. The study was conducted in collaboration with a high technology startup in Sweden that designs tailormade semiconductor IPs with extraordinarily low energy consumption. The secondary purpose is to develop an applicable framework, encapsulating the key success factors, to help high technology startups evaluate their commercial position.
By studying the intersection between the two theoretical areas - market and technology focus – we were able to identify six apparent success factors, later compiled into a guiding framework, including the complimentary, but still prepossessing, elements of revaluation over time and understanding your value proposition. The six success factors are categorized in pairs and should be studied in chronological order as follows:
1. Deploy a technological & economical audit, cherry-pick time & cost-effective marketing analysis tools
2. Develop a capacity to absorb & filter external knowledge, scan the market frontier
3. Identify lead customers
4. Avoid marketing and technology myopia
5. Avoid hoarding & actively spread information
6. Capture tacit knowledge & seek new learning (Less) - Popular Abstract
- High-technology environments are complex, and the notion of startup success in such a setting is both practically difficult and theoretically vague. Our research suggests commercialization is key, and thus a framework is developed to achieve this.
Please use this url to cite or link to this publication:
http://lup.lub.lu.se/student-papers/record/9058613
- author
- Christensen, Gustav LU and Bengtsson, Alexander LU
- supervisor
- organization
- course
- MIOM05 20211
- year
- 2021
- type
- H2 - Master's Degree (Two Years)
- subject
- keywords
- High-technology, startups, market focus, technology focus, technological capabilities, commercialization, semiconductor
- report number
- 21/5670
- language
- English
- additional info
- As part of a master thesis written by two engineering students at the Faculty of Engineering at Lund University, a presentation of who was responsible for what content should be given. Gustav Christensen was responsible for the Introduction chapter and the subchapter Market focus: A literature review of concepts & frameworks. Alexander Bengtsson was responsible for the Methodology chapter and the subchapter Technology-oriented competitive advantage: A literature review of concepts & frameworks. The remaining chapters have been the outcome of joint efforts.
- id
- 9058613
- date added to LUP
- 2021-06-30 21:12:58
- date last changed
- 2021-07-02 12:14:28
@misc{9058613,
abstract = {{While there have been numerous research papers defining and discussing high technology startup success, there is a lack of unity what the recipe for success is. Due to lack of market orientation being one of the most common reasons for startup failure, combined with the essentiality of having a strong technology base in a high technology environment, there is an interest to study their intersection also due to confine previous research in this area. Hence, the main purpose of this master thesis is to identify, categorize and understand key success factors of transforming a high technology startup from a pure innovation-focused firm to a market and technology-focused organization to ensure a sustainable competitive advantage. The study was conducted in collaboration with a high technology startup in Sweden that designs tailormade semiconductor IPs with extraordinarily low energy consumption. The secondary purpose is to develop an applicable framework, encapsulating the key success factors, to help high technology startups evaluate their commercial position.
By studying the intersection between the two theoretical areas - market and technology focus – we were able to identify six apparent success factors, later compiled into a guiding framework, including the complimentary, but still prepossessing, elements of revaluation over time and understanding your value proposition. The six success factors are categorized in pairs and should be studied in chronological order as follows:
1. Deploy a technological & economical audit, cherry-pick time & cost-effective marketing analysis tools
2. Develop a capacity to absorb & filter external knowledge, scan the market frontier
3. Identify lead customers
4. Avoid marketing and technology myopia
5. Avoid hoarding & actively spread information
6. Capture tacit knowledge & seek new learning}},
author = {{Christensen, Gustav and Bengtsson, Alexander}},
language = {{eng}},
note = {{Student Paper}},
title = {{Key success factors for turning a high technology startup into a commercial success: A case study of a semiconductor startup}},
year = {{2021}},
}