Europe is facing an economic and political crisis. This impacts directly the situation of Romania.
Foreign Investments and Venture Capital (VC) seem to decrease at both Institutional and Private Level. Principal-Agency Theory comes into play and Governance between Venture Capitalists and Entrepreneurs seems to be challenged. Sustainable entrepreneurship is more important than ever. The situation to attract VC has changed tremendously. It is important to reanalyze and understand the status quo of the new investments perspectives and the new entrepreneurial conditions in Romania.
The objective of this research project is to better understand and put into value the role of vc/svc/cdvc (venture capital/ social venture capital/ community development venture capital) driven innovation policies in building the favorable environment for a sustainable growth (development) of underdeveloped regions from Romania, by generating creative-innovative economic and/or social enterprises.
Identification and analysis of objective and subjective attractors and repellers, meaningful for generation of VC/SVC/CDVC driven innovation, in the context of competition with other ways of innovation: corporate, entrepreneurial, financed from public funds or mixed funds.
Conceiving of a theoretical model and of a methodology for evaluation, quantification and characterization of a Regional VC Implementation Readiness (RVCIR) and the experimental application of the built model for the case of development regions in Romania.
Design of a policy recommendations guide for diminishing the repellers and for cultivating / putting into value of the objective and subjective attractors meaningful for the generation of VC/SVC/CDVC driven innovation in underdeveloped regions.
Design and initialization of pilot model for lifelong learning and specification of appropriate learning instruments needed to implement the policy recommendations.
The research will take 24 months and will be deployed in 3 phases:
1st phase - 6 months
Preparative activities: inventory of data sources for analysis, preparation of interview guide and working protocol and preparation / training of the research team.
Action-research iteration: to present an negotiate with VC actors of a test-project, anteriorconceived by the Romanian team. After this action-research exercise will be upgraded the interview guide and will start the interview with Swiss VC actors needed for the situational analysis.
Collection, processing and analyzing data (desktop and field research) at European level (desktop research), national and at the level of the 8 Romanian development regions (desktop and field research).
Final analysis and synthesis of the research findings: discussion and validation of data from the perspective of there utility to practice for relationship with Swiss VC actors.
2nd phase - 12 months
From the situational analysis, based on Participative Roles in Regional Innovation (PRRI) model will be determined a methodology for evaluation, quantification, characterization and presentation of a RVCIR, useful for the decisions of the VC actors, elaboration of development policies of VC driven innovation at regional level and the elaboration of the programs for academic (professional) forming/ specialization at regional level.
3rd phase - 6 months
The Policy recommendations guide for attracting VC in underdeveloped regions.
The lifelong learning model and specification of the training tools - appropriated to the applicationof policy recommendations and organized.
A pilot cycle of post-university formation in the field of VC driven innovation at the Faculty of International Business and Economics (FIBE) of ASE Bucharest a final validation and reflection group in Bucharest.
Prof. Thomas Straub, PHD
Haute école de gestion Fribourg
Chemin du Musée 4
CH-1700 Fribourg (Suisse)
Tél.: +41 26 429 63 77