Publications

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30 Apr 2014
Research & Ideas

Venture Investors Prefer Funding Handsome Men

unattractive, and we also ran our own pilot study to ensure that the faces uniquely manipulated attractiveness." Each participant rated the investment potential of the venture on a scale of one to... View Details

Keywords: by Carmen Nobel; Financial Services

July 2021
Case

Kevin D. Johnson: To Be a Venture Capitalist or an Operator?

By: Jo Tango and Alys Ferragamo

In May of 2021, Kevin D. Johnson had just graduated from a rigorous Executive MBA program, and he quickly needed to decide on his next career move. Johnson was the founder and CEO of a successful media company, Johnson Media Inc., but his career goals had shifted while... View Details

Keywords: Entrepreneurship; Business Startups; Goals and Objectives; Race; Wealth; Decisions; Venture Capital; Personal Development and Career; United States

Blog

Tech Power at HBS: Faculty Boost Technology Ecosystem

list, now in its second year, naturally includes tech CEOs, venture capitalists, and entrepreneurs, but goes beyond technologists to explore the broader ecosystem of tech industries in New England and the people who have "kept the... View Details

September 2007 (Revised May 2009)
Case

Syndexa and Technology Transfer at Harvard University

By: Richard G. Hamermesh and David Kiron

Gokhan Hotamisligil is a star researcher at Harvard School of Public Health who has made groundbreaking discoveries linking fat cells, inflammation, and diabetes. He now wants to form a company to commercialize these discoveries. At the same time, Isaac Kohlberg, the... View Details

Keywords: Business Startups; Higher Education; Entrepreneurship; Innovation and Invention; Intellectual Property; Rights; Agreements and Arrangements; Science-Based Business; Commercialization; Biotechnology Industry; Health Industry

October 2007 (Revised July 2013)
Case

Vertex Pharmaceuticals and the Cystic Fibrosis Foundation: Venture Philanthropy Funding for Biotech

By: Robert F. Higgins, Sophie LaMontagne and Brent Kazan

In 2001, Vertex Pharmaceuticals Incorporated acquired the San Diego-based biotech company, Aurora Biosciences. The combination of Vertex's and Aurora's technologies would improve the flow of novel drug candidates into development. However, several questions related to... View Details

Keywords: Philanthropy; Philanthropy Funding; Innovation; Funding Model; Venture Capital; Partners and Partnerships; Financing and Loans; Investment Funds; Acquisition; Philanthropy and Charitable Giving; Biotechnology Industry; Pharmaceutical Industry; San Diego

April 2019 (Revised June 2019)
Case

Western Governors University: 10x Vision

By: William R. Kerr and Susie L. Ma

Western Governors University (WGU) was a nonprofit institution of higher education whose online learning model served more than 100,000 students in 2019 and was scaling rapidly. President Scott Pulsipher wanted to expand WGU’s reach to millions more with a plan called... View Details

Keywords: Online Education; Enrollment; Scaling; Higher Education; Internet and the Web; Business Model; Expansion; Growth and Development Strategy; Education Industry; United States

25 Feb 2025
Blog Post

Alumni Career Journey: Lee Scott (MBA 2023) - Scaling Climate Tech Innovation

Ideally, these companies can fund their projects with project finance since that has a lower cost of capital than venture dollars. However, infrastructure investors typically prefer established technologies... View Details

June 2017
Case

Waze Connected Citizens Program

By: Mitchell Weiss and Alissa Davies

Di-Ann Eisnor, Director of Growth at Waze, founded the company’s Connected Citizens Program (CCP), a data-sharing partnership that provided officials with traffic incident and congestion data. Since 2015, her program had enabled officials in Kentucky and elsewhere to... View Details

23 Dec 2014
Research & Ideas

The Founder of Modern Venture Capital

creation of new products for the welfare of American soldiers. For decades, as president of American Research & Development Corporation, an early venture capital firm founded in 1946, he fostered the development of startup companies... View Details

Keywords: Education; Financial Services

2016
Article

Organizational Decision-Making and Information: Angel Investments by Venture Capital Partners

By: Andy Wu

We study information aggregation in organizational decision-making for the financing of entrepreneurial ventures. We introduce a formal model of voting where agents face costly tacit information to improve their decision quality. Equilibrium outcomes suggest a... View Details

Keywords: Entrepreneurial Finance; Angel Investors; Organization Design; Voting; Group Decision-making; Information; Strategy; Organizations; Entrepreneurship; Decision Making; Financing and Loans

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August 2018 (Revised February 2022)
Case

Lexoo: Building a Long-Lasting Platform

By: Chiara Farronato and Elena Corsi

Daniel van Binsbergen, Lexoo’s CEO, and web developer Chris O’Sullivan, CTO, had set up Lexoo, a UK legal marketplace, to help small and medium enterprises (SME) find legal advice at low prices. Lexoo had recently invested in a new vertical focused on larger companies.... View Details

Keywords: Marketplaces; Legal Services; Growth Strategy; Technology Ventures; Service Operations; Digital Platforms; Marketplace Matching; Growth and Development Strategy; Legal Services Industry; United Kingdom

September 2022
Case

AllSpice: GitHub for Hardware Engineers

By: Jeffrey J. Bussgang and Mel Martin

AllSpice, a software-as-a-service company that built a GitHub-like revision control tool for hardware engineers, was in the midst of preparing for rapid scale when the 2022 market downturn left them with big decisions to make. Cofounder and CEO Valentina Ratner had to... View Details

Keywords: Scaling; SaaS; Strategy; Marketing; Growth and Development Strategy; Resource Allocation; Customer Focus and Relationships; Technology Industry; Technology Industry; United States

March 2010 (Revised January 2011)
Case

Carrot or Stick? Getting Paid for Innovation at Tessera Technologies

By: Willy C. Shih

Tessera Technologies has been very successful developing technologies for the semiconductor and mobile device industry, and then licensing them broadly to manufacturers. In addition to licensing patents, it also supplies know-how to help manufacturers move into... View Details

Keywords: Business Model; Innovation Strategy; Patents; Courts and Trials; Rights; Mobile Technology; Semiconductor Industry; California