Table of Contents

Entrepreneurship, Cooperation and the Firm

Entrepreneurship, Cooperation and the Firm

The Emergence and Survival of High-Technology Ventures in Europe

Edited by Jan Ulijn, Dominique Drillon and Frank Lasch

The book is an exceptional result of a distinctive network of European and American scholars, practitioners, and members of public institutions interested in the critical issues of emergence and survival of technology and knowledge based firms. The contributors study examples from both the old EU-member states such as France, Germany, the UK and the Netherlands, as well as newer countries such as Slovenia and Estonia. The book is unique in bringing culture and psychology together in the particular context of the nascent technopreneur.

Chapter 9: High-tech Start-ups and Innovation Journeys: Strategic Shifts, Culture and Networks

Ingrid A.M. Wakkee, Aard J. Groen and Reinier Heerink

Subjects: business and management, entrepreneurship

Extract

Ingrid A.M. Wakkee, Aard J. Groen and Reinier Heerink INTRODUCTION Although the need for sustained and ongoing industrial innovation on the micro, meso and macro levels seems to be clear for theory and practice (Van der Ven et al., 1989; Rip, 2004), there is only limited transparency regarding the successful organization of innovation processes in entrepreneurial ventures and how this led to value creation (Rip, 2004). Innovation processes evolve simultaneously over time on micro, meso and macro levels of aggregation; they are complex, contingent and uncertain expeditions into unexplored areas, and as such they can be characterized as ‘innovation journeys’ (for example, see Van der Ven et al., 1989, 1999; Rip and Groen, 2001). During the innovation journey, entrepreneurs encounter tensions due to the conflicting demands of exploration and exploitation activities (March, 1991; De Weerd-Nederhof, 1998; Rip and Groen, 2001; Nooteboom and Gilsing, 2004; Gilsing and Nooteboom, 2005). These tensions must be resolved in order to be able to create both short- and long-term value and to ensure company survival. In doing so, entrepreneurs have to take into consideration the emerging company culture and the culture of the profession or industry. The culture, after all, provides the framework in which the company operates and as such it sets the boundaries between which managers can manoeuvre. In this chapter we therefore explore the following question: how do new technology-based ventures use social networking to create value in the short and long terms through the pursuit of different opportunities from...

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