TY - JOUR T1 - Navigating Risk When Entering and Participating in a Business Ecosystem JF - Technology Innovation Management Review Y1 - 2013 A1 - Derek Smith KW - business ecosystem KW - due diligence KW - entrepreneurs KW - literature review KW - mitigation KW - risk KW - risk identification KW - startups KW - threat management AB - Entrepreneurs typically have limited resources during the start-up phase of a business. Business ecosystems are a strategy for entrepreneurs to access and exchange many different aspects of value, resources, and benefits. However, there may be business risks for entering a particular type of ecosystem, and further risks may be encountered after entering and participating in a business ecosystem. These risks are significant and can inhibit a startup's growth. In this article, the literature on business ecosystems is reviewed as it relates to risk to discover insights of relevance to entrepreneurs, top management teams, and business-ecosystem operators. First, the published research is organized into two streams: i) risks relating to categories of business ecosystems, and ii) risks relating to participating in business ecosystems. Then, the problem is abstracted to develop a potential strategy for managing these risks, which features a pre-entry inspection followed by real-time resource management. Finally, five recommendations are offered for entrepreneurs seeking to enter and participate in business ecosystems. PB - Talent First Network CY - Ottawa VL - 3 UR - http://timreview.ca/article/685 IS - 5 U1 - Carleton University Derek Smith is the founder and principal of Magneto Innovention Management, an intellectual property consulting firm that assists entrepreneurs and small businesses to navigate and grow their international patent portfolios. He has over 20 years of experience working as an intellectual property management consultant and patent agent for IBM Canada, Bell Canada and, most recently, Husky Injection Molding Systems where he was Director, Global Intellectual Property. Prior to entering the field of intellectual property, he was an advisory engineer at IBM Canada where he was involved in a variety of leading-edge software development projects. Derek is currently a graduate student in the Technology Innovation Management (TIM) program at Carleton University in Ottawa, Canada. He also holds a BEng degree in Systems and Computer Engineering from Carleton University and is a registered patent agent in both Canada and the United States. ER -