Bound for Glory or Cursed for Life? Exploring the Impact of Initial Resources on the Venture Emergence of New Technology-based Firms

Ferran Giones, Francesc Miralles

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Abstract

The value of existent firm’s resources in uncertain and dynamic contexts is unclear. It is difficult to determine whether starting a new firm with a strong resource position will give an advantage in technology-intense contexts. We propose a revision of the role of resources in new tech-based ventures.
We adopt a mixed-method approach. We use the cases of 21 new technology firms to build propositions on what factors (resources) play a role in new venture emergence. We then test to what extent do those resources make an effect on the new venture emergence using a longitudinal dataset of 400 new technology-based firms.
The results show that not all resources matter equally in the early-stages of a new technology-based firm. We identify that specific combinations of entrepreneurial experience and industry knowledge has a positive impact, while other resources such as technology assets, surprisingly, do not generate a clear impact.
Original languageEnglish
JournalInternational Journal of Entrepreneurial Venturing
ISSN1742-5360
DOIs
Publication statusE-pub ahead of print - 24. Jan 2019

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New technology-based firms
Resources
Venture
Industry
New ventures
Assets
Factors
Firm resources
New firms
Mixed methods

Keywords

  • Technology Entrepreneurship
  • Venture Emergence
  • Technology Resources
  • Panel Data Set

Cite this

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title = "Bound for Glory or Cursed for Life? Exploring the Impact of Initial Resources on the Venture Emergence of New Technology-based Firms",
abstract = "The value of existent firm’s resources in uncertain and dynamic contexts is unclear. It is difficult to determine whether starting a new firm with a strong resource position will give an advantage in technology-intense contexts. We propose a revision of the role of resources in new tech-based ventures.We adopt a mixed-method approach. We use the cases of 21 new technology firms to build propositions on what factors (resources) play a role in new venture emergence. We then test to what extent do those resources make an effect on the new venture emergence using a longitudinal dataset of 400 new technology-based firms.The results show that not all resources matter equally in the early-stages of a new technology-based firm. We identify that specific combinations of entrepreneurial experience and industry knowledge has a positive impact, while other resources such as technology assets, surprisingly, do not generate a clear impact.",
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