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We draw upon stewardship theory to formally derive bounds on the investment amount in a business prospect, and to characterize ownership sharing when investors offer two-stage financing along with know-how to increase the prospect’s valuation. In the early-development stage, we show that the direct effect of investor know-how increases the entrepreneur’s share while the indirect effect from that know-how due to its interaction with the investment size, decreases it. In the subsequent growth stage, the direct effect decreases the entrepreneur’s share while the indirect effect increases it. These tradeoffs offer theoretical and practical implications for writing investment contracts involving investor know-how.

Despite the existing challenges in the capital market, technological and market uncertainties, the current business environment may be fertile for innovative firms that could find affordable and scalable clean technology innovations. Navigating innovation management process for any clean technology project is a practical issue that requires attention of financial and non-financial factors affecting technology development and deployment. Such endeavor has precipitated many of the complex questions involved with clean technology industry. This article surveys literatures on resource-based view of the firm, operations management, innovation and technology management, and clean technology. The article identifies key drivers – operations, market and regulatory – of clean technology projects, and further demonstrates their interrelatedness within a comprehensive integrated conceptual framework of development and deployment. This integrated framework contributes to our understanding of innovation management process for clean technology firms, including supply and demand sides.