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Indu Peiris, Michèle Akoorie and Paresha Sinha

This chapter focuses on how external contextual factors shape entrepreneurial actions and also how entrepreneurial actions shape these contextual factors in return. Our study uses two in-depth cases studies to gain in-depth understanding of their contextual embeddedness. We also explore how industry knowledge is transferred to the locals as a result of political, market, and economic pressures and how institutional context made local managers break the norms, and with the help of social networks built over time, to set up their own ventures. This chapter makes contributions to the extant literature on context and entrepreneurship by using contextual embeddedness, in our study of entrepreneurs in a specific industry, in a specific landscape, we determine how temporal, industry and market, and social constructs can shape the development of an industry. This study found entrepreneurs to be change agents and shows how they can flourish under resource constraints and under conditions of adversity.

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Indu Peiris, Michèle Akoorie and Paresha Sinha

Entrepreneurial actions need to be financed either through external means or internally by the entrepreneur. However, obtaining debt and equity for a new venture may be extremely difficult for nascent entrepreneurs due to their lack of a track record, lack of experience, and no collateral. In this chapter we look at how entrepreneurs exploit their social capital using a bootstrapping strategy to bridge this resource gap. Using case study methodology we analyse six indigenous tea exporters in the Sri Lankan tea industry to investigate the underlying factors that led to successful exploitation of external social capital to access bootstrap resources. We provide insights into why and how entrepreneurs use social capital as a bootstrapping strategy and what brought the entrepreneurs and external networks together to create new resource configurations.