Outcomes and Perspectives
Chapter 3: The Entrepreneurial Process: Emergence and Evolution of New Firms in the Knowledge-Intensive Economy
Frédéric Delmar1 INTRODUCTION The purpose of this chapter is to present a framework for a Swedish project aiming at understanding and explaining how new firms emerge and evolve in the sector of the economy that is research intensive. Specifically, we want to follow the process that leads to the identification and exploitation of entrepreneurial opportunities through the creation of new independent businesses in milieux characterized by innovativeness. This means that the identification of the entrepreneurial process, the founding of the new venture and its early development will be followed over time. Of special interest is research-intensive entrepreneurship which encompasses areas such as academic entrepreneurship (that is, how researchers at universities directly take part in the commercialization of their own research) (Henrekson and Rosenberg, 2000) to entrepreneurship in new growth areas that are knowledge intensive, such as mobile internet communication. We define entrepreneurship as the process of how, by whom, and with what consequences opportunities to discover future products and services are discovered, evaluated and exploited (Venkataraman, 1997). Opportunities are defined as those situations in which new goods, services, raw materials and organizing methods can be introduced and sold at a price greater than their cost of production (Casson, 1982).2 We define research-intensive environments as environments characterized by a high component of new knowledge often originating from research. Such environments are also characterized by a constant introduction of innovation and changes. The main questions are: how does entrepreneurship develop in such contexts and how does this form of...
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