Journal article
Leveraging Private Enterprise: Incubation of New Industries to Address the Public Sector's Mission-Oriented Grand Challenges
Strategy science, v 6(4), pp 385-411
01 Dec 2021
Featured in Collection : UN Sustainable Development Goals @ Drexel
Abstract
We examine how mission-oriented grand challenges-formed to address the public sector's unmet needs through development of new technologies and products for high potential impact-originate and catalyze industry incubation. Our analysis of six prominent cases identifies the incubation process, consisting of identification of unmet needs as a grand challenge, championing and articulation of a mission, leverage of private enterprise, and success or failure of the mission for subsequent industry emergence. The resulting conceptual model highlights key similarities and differences of industry incubation stemming from the public sector's mission-oriented grand challenges relative to industries triggered by scientific discoveries or unmet user needs where the public sector is not as salient. The analysis reveals successful outcomes are associated with the public sector's goal setting and carrying out "market functions" pertaining to selection, coordination, and knowledge sharing. We also provide cautions and caveats regarding fault lines that may arise in public-private partnerships.
Metrics
Details
- Title
- Leveraging Private Enterprise: Incubation of New Industries to Address the Public Sector's Mission-Oriented Grand Challenges
- Creators
- Rajshree Agarwal - University of Maryland, College ParkSeojin Kim - University of Maryland, College ParkMahka Moeen - University of North Carolina at Chapel Hill
- Publication Details
- Strategy science, v 6(4), pp 385-411
- Publisher
- Informs
- Number of pages
- 28
- Resource Type
- Journal article
- Language
- English
- Academic Unit
- Management
- Web of Science ID
- WOS:000708984000001
- Scopus ID
- 2-s2.0-85122687387
- Other Identifier
- 991021861873904721
UN Sustainable Development Goals (SDGs)
This publication has contributed to the advancement of the following goals:
InCites Highlights
Data related to this publication, from InCites Benchmarking & Analytics tool:
- Collaboration types
- Domestic collaboration
- Web of Science research areas
- Management