Managing Knowledge Intensive Entrepreneurship
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Managing Knowledge Intensive Entrepreneurship

Maureen McKelvey and Astrid Heidemann Lassen

The book uniquely combines an academic review of theoretical and empirical contributions with an analysis of the practical implications for engaging in and learning about venture creation. The authors concentrate on specific types of firms reliant upon advanced knowledge and show how a systemic perspective of entrepreneurship is required, involving design thinking, in order to capture the relationships between individual, venture and eco-system.
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Chapter 2: The KIE creation model

Maureen McKelvey and Astrid Heidemann Lassen

Extract

This chapter explains what we mean by these two propositions: KIE ventures represent special forms of venture creation and they are different from other types of entrepreneurship. Partly, there is a definitional issue of focusing upon that subset of firms that uses various types of knowledge and innovation as the key competitive asset, regardless of industry. However, the special form of venture creations also focuses on the relationships that occur between KIE venture creation and context during different business phases. KIE entrepreneurship is achieved through a series of decisions, which lead to the balancing of alternative logics between business planning and emergence of unexpected opportunities. A number of structures and variables are identifiable and must be considered, when planning the development of a new company. These include elements within the company but also elements in the external ecosystem and environment. But the interpretation of such variables and how one acts upon them in a company will result in a variety of different outcomes. This underlies the evidence-based approach as well as the creative development of the venture. This chapter proposes our KIE creation model, and it consists of three phases with second-order variables and identification of key themes. The first phase has to do with accessing resources and ideas, which can be seen as a focus upon inputs and ‘endowments’ that already exist in the ecosystem. The entrepreneur and founding team may bring these with them into the start-up phase. The second phase is managing and developing these ventures.

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