While the recent focus on knowledge has undoubtedly benefited organizational studies, the literature still presents a sharply contrasting and even contradictory view of knowledge, which at times is described as "sticky" and at other times "leaky." This paper is written on the premise that there is more than a problem with metaphors at issue here, and more than accounts of different types of knowledge (such as "tacit" and "explicit") can readily explain. Rather, these contrary descriptions of knowledge reflect different, partial, and sometimes "balkanized" perspectives from which knowledge and organization are viewed. Taking the community of practice as a unifying unit of analysis for understanding knowledge in the firm, the paper suggests that often too much attention is paid to the idea of community, too little to the implications of practice. Practice, we suggest, creates epistemic differences among the communities within a firm, and the firm's advantage over the market lies in dynamically coordinating the knowledge produced by these communities despite such differences. In making this argument, we argue that analyses of systemic innovation should be extended to embrace all firms in a knowledge economy, not just the classically innovative. This extension will call for a transformation of conventional ideas coordination and of the trade-off between exploration and exploitation.

Knowledge and Organization: A Social-Practice Perspective

Crowdfunding allows founders of for-profit, artistic, and cultural ventures to fund their efforts by drawing on relatively small contributions from a relatively large number of individuals using the internet, without standard financial intermediaries. Drawing on a dataset of over 48,500 projects with combined funding over $237M, this paper offers a description of the underlying dynamics of success and failure among crowdfunded ventures. It suggests that personal networks and underlying project quality are associated with the success of crowdfunding efforts, and that geography is related to both the type of projects proposed and successful fundraising. Finally, I find that the vast majority of founders seem to fulfill their obligations to funders, but that over 75% deliver products later than expected, with the degree of delay predicted by the level and amount of funding a project receives. These results offer insight into the emerging phenomenon of crowdfunding, and also shed light more generally on the ways that the actions of founders may affect their ability to receive entrepreneurial financing.

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The Dynamics of Crowdfunding: Determinants of Success and Failure

The dynamics of crowdfunding: An exploratory study

There are two paradoxical characteristics of the contemporary global economy. First, innovative activity is not uniformly or randomly distributed across the geographical landscape. Indeed, the more knowledge-intensive the economic activity , the more geographically clustered it tends to be. The best examples include industries such as biotechnology or Wnancial services, which have become ever more tightly clustered in a small number of major centers, despite the attempts of many other places to attract or generate their own activities in these sectors. Second, this tendency toward spatial concentration has become more marked over time, not less contradicts longstanding predictions that the increasing use of information and communication technologies would lead to the dispersal of innovative activity over g g p p g Fagerberg / The Oxford Handbook of Innovation Revised Proof 31.7.2004 5:38pm page 291

The Geography of Innovation: Regional Innovation Systems

The paper re-examines critically the growing literature on localised knowledge spillovers (LKSs), and finds the econometric evidence on the subject still lacking of a firm theoretical background, especially in respect of the more recent developments in the economics of knowledge. Therefore such evidence, and even more the concept itself of LKS, should not be read as supportive of new industrial geographers' work on industrial districts, hi-tech agglomerations and 'milieux innovateur'. On the contrary, it may represent a threat to the necessary efforts for gaining more theoretical rigour and getting more empirical fieldwork done. Key words: knowledge, innovation, spillovers, externalities, regional agglomeration. JEL classification: D62, O30, R12

Knowledge spillovers and local innovation systems: a critical survey

Silicon Valley and Route 128 have been the centers of innovation and commercialization for the electronics, computer and data communications industries in the postwar period. However, since the 1960s Silicon Valley has grown more rapidly and from approximately 1985 through 1995 Route 128 experienced retarded growth. Their success had diverged dramatically in the last decade. The most common explanations for this divergence are differing cultures, interfirm relations or/and internal organizational style organization. This paper builds upon path-dependent and dominant design explanations of technical and industrial change, arguing that the technological trajectories of the industries underlying the two regions were different and this led to their differential destinies. To explain the dynamics of the two regions, and analytical separation is made between the economy of the existing firms and a separate economy of institutions that evolved to nurture new firm formation. Copyright 1999 by Oxford University Press.

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U von Burg

Papers

Technology, entrepreneurship and path dependence: industrial clustering in Silicon Valley and Route 128