The Emergence and Survival of High-Technology Ventures in Europe
Edited by Jan Ulijn, Dominique Drillon and Frank Lasch
Chapter 9: High-tech Start-ups and Innovation Journeys: Strategic Shifts, Culture and Networks
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...
You are not authenticated to view the full text of this chapter or article.
Elgaronline requires a subscription or purchase to access the full text of books or journals. Please login through your library system or with your personal username and password on the homepage.
Non-subscribers can freely search the site, view abstracts/ extracts and download selected front matter and introductory chapters for personal use.
Your library may not have purchased all subject areas. If you are authenticated and think you should have access to this title, please contact your librarian.