A Proposal for a Standard With Innovation Management System

Teresa Costa and Luísa Carvalho
order to access support, skills, and experience, thereby facilitating market penetration (Domenico et
al, 2010).
4. Methodology
This empirical research applies the case study methodology. According with Yin (1994) case study
method is most suitable for the investigation that search questions such as "how" and "why" about
which the researcher has little or no control. Yin (1994) defines the case study research method as an
empirical study that investigates a contemporary phenomenon within its real-life context; when the
limits between phenomenon and context are not clearly evident; and in which multiple sources of
evidence are used (Yin, 1994, p. 13).
This exploratory study adopted an iterative process of data collection in conducting a case study built
on the results of a semi-structured interviews (see Annex 1 – Interview guide) applied to keyinformers
involved with projects included in BVS. The interviews were applied during March and April
of 2012. The study also used documental sources of information available in BVS and projects
websites and other documents.
5. Empirical study
5.1 Portuguese social stock exchange - BVS
The BVS includes several projects in various areas with results in education and social
entrepreneurship. Through the analysis of the projects it was possible to find solutions to solve social
needs in different contexts mostly in disadvantaged or excluded social groups. The model of funding
proposed by BVS allows the attraction of financial resources with transparency and creativity. This
social stock market re-creates the social environment of a stock exchange involving the civil
organizations and social investors.
Thus it is possible to promote social investment, challenging the social investor not to participate from
the perspective of philanthropy and charity, but given the choice of investment that should generate
social profit.
5.2 Analysis of BVS projects
The data analyses of information collected allowed the achievement of the main objectives of the
study. The interpretation of the information is organized according with the three objectives listed.
Table 1 organize the information related with the degree of project attractiveness, table 2 structure the
reasons of project attractiveness in terms of funding and finally table 3 presents the assessment of
sustainability projects.
In order to understand the degree of project attractiveness, table 1 identifies the projects currently
available in BVS, in April 2012, presenting the value project. Shares sold and the percentage of
funding generated.
Table 1: Value and funding of BVS projects (data results)
Project
Project name
value Shares sold % Funding
"Centro ABCReal Portugal" 50.000,00 160,00 0,32%
"Polo Social Manto” 42.872,00 20.677,00 48,23%
"Projeto Viver, Crescer e Integrar" 22.100,00 2.034 9,20%
"Social Innovation Challenge" 15.200,00 5.549,00 36,51%
“A Vida Vale” 50.000,00 10.469,00 20,94%
“Agência ODM” 160.000,00 71.100,00 44,44%
“Audiodescrição.pt – ouço, logo vejo” 20.000,00 20.000,00 100,00%
“Capital Aldeia” 94.500,00 1.295,00 1,37%
“Casa da Cidadania” 150.000,00 1.490,00 0,99%
“Centro de Interpretação da Abelha” 229.765,00 43.445,00 18,91%
“Cidadania Plena” 72.720,00 571,00 0,79%
“Cozinhar o Futuro” 165.000,00 165.000,00 100,00%
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