New venture creation: How start-ups grow?
Main Article Content
Keywords
New Venture Creation, Start-up, SME, Growth, Ideation, Opportunity
Abstract
Start-ups, often seen as sources of innovation and change, are prone to failure and accordingly they are attracting considerable attention not least from policy makers and Government officials. However, the various new venture creation studies that have emerged since the early 1980s lack cohesiveness, and the domain remains controversial. This article not only exposes the limitations of the existing body of understanding on the topic but attempts to develop a more comprehensive and comprehendible framework for start up (new venture) creation. To do so it uses the frameworks proposed by Whetten, and March and Smith to develop 11 propositions. The resultant model suggests that the creation of a start up involves the identification of an idea or opportunity by an entrepreneur who subsequently organizes a series of activities, mobilizes resources and creates competence using his/her networks in an environment in order to create value. It sheds light on the start-up (new venture) creation process and has relevance for entrepreneurs, policy makers and researchers.
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References
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Dess, G. G., & Lumpkin, G. T. (2005). The role of entrepreneurial orientation in stimulating effective corporate entrepreneurship. The Academy of Management Executive, 19(1), 147-156.
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Díaz-Casero, J. C., Ferreira, J. J. M., Mogollón, R. H., & Raposo, M. L. B. (2012). Influence of institutional environment on entrepreneurial intention: a comparative study of two countries university students. International Entrepreneurship and Management Journal, 8(1), 55-74.
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Dushnitsky, G., & Lenox, M. J. (2005). When do firms undertake R&D by investing in new ventures?. Strategic Management Journal, 26(10), 947-965.
Edelman, L., & Yli‐Renko, H. (2010). The impact of environment and entrepreneurial perceptions on venture- creation efforts: bridging the discovery and creation views of entrepreneurship. Entrepreneurship Theory and Practice, 34(5), 833-856.
Evers, N. (2015). The Process And Problems Of Business Start-Ups. The ITB Journal, 4(1), 3.
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Forbes, D. P. (1999). Cognitive approaches to new venture creation. International Journal of Management Reviews, 1(4), 415-439.
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Gonzalez-Perez, M. A., & Fernando Velez-Ocampo, J. (2014). Targeting one’s own region: Internationalisation trends of Colombian multinational companies. European Business Review, 26(6), 531-551.
Gonzalez-Perez, M. A., & Gutierrez-Viana, S. (2012). Cooperation in coffee markets: the case of Vietnam and Colombia. Journal of Agribusiness in Developing and Emerging Economies, 2(1), 57-73.
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models. Technovation, 25(2), 111-121.
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sociology, 82(5), 929-964.
Haugh, H. (2007). Community-led social venture creation. Entrepreneurship Theory and Practice, 31(2), 161182.
Hitt, M. A., Ireland, R. D., Sirmon, D. G., & Trahms, C. A. (2011). Strategic entrepreneurship: creating value for
individuals, organizations, and society. The Academy of Management Perspectives, 25(2), 57-75.
Karra, N., Phillips, N., & Tracey, P. (2008). Building the born global firm: developing entrepreneurial capabilities
for international new venture success. Long Range Planning, 41(4), 440-458.
Katz, J., & Gartner, W. B. (1988). Properties of emerging organizations. Academy of management
review, 13(3), 429-441.
Khajeheian, D. (2013). New Venture Creation in Social Media Platform; Towards a Framework for Media
Entrepreneurship. In Handbook of Social Media Management (pp. 125-142). Springer Berlin Heidelberg.
Khajeheian, D. (2014). A Perspective on Media Entrepreneurship Policy: Globalization Of Knowledge And
Opportunities For Developing Economies. Journal of Globalization Studies, 5(2), 174-187
Khajeheian, D (2016). Telecommunication Policy: Communication Act Update, Global Media Journal-Canadian
Edition, 9(1) 135-141.
Khajeheian, D. & Tadayoni, R. (2016). User innovation in public service broadcasts: creating public value by
media entrepreneurship, International Journal of Technology Transfer and Commercialisation, 14 (2),
117–131.
Kristiansen, S., & Indarti, N. (2004). Entrepreneurial intention among Indonesian and Norwegian students.
Journal of Enterprising Culture, 12(1), 55-78.
Krueger, N. F., Reilly, M. D., & Carsrud, A. L. (2000). Competing models of entrepreneurial intentions. Journal of
business venturing, 15(5), 411-432.
Kuester, S., Homburg, C., & Robertson, T. S. (1999). Retaliatory behavior to new product entry. The Journal of
Marketing, 3, 90-106.
Kuratko, D. F., Morris, M. H., & Schindehutte, M. (2015). Understanding the dynamics of entrepreneurship
through framework approaches. Small Business Economics, 45(1), 1-13.
Lanciano-Morandat, C., & Verdier, E. (2010). Multi-level Perspectives: A Comparative Analysis of National R&D
Policies. The Capitalization of Knowledge: A Triple Helix of University-Industry-Government, 12, 218-242.
Larson, A. & Starr, J.A., (1993). A network model of organisation formation, Entrepreneurship Theory and
Practice, 17(2), 5-16.
Li., J., Zhang, Y., & Yang, J. (2006). New venture creation: evidence from an investigation into Chinese
entrepreneurship. Journal of Small Business and Enterprise Development, 13(2), 161-173.
Liao, J. J., & Welsch, H. (2008). Patterns of venture gestation process: Exploring the differences between
tech and non-tech nascent entrepreneurs. The Journal of High Technology Management Research, 19(2),
103-113.
Lichtenstein, B. B., Dooley, K. J., & Lumpkin, G. T. (2006). Measuring emergence in the dynamics of new
venture creation. Journal of Business Venturing, 21(2), 153-175.
Lim, S. S., Platts, K., & Minshall, T. (2008). An exploratory study on manufacturing strategy formulation in start-
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Feb 28, 2017
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Salamzadeh, A., & Kirby, D. A. (2017). New venture creation: How start-ups grow?. AD-Minister, (30), 9–29. https://doi.org/10.17230/ad-minister.30.1
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Author Biographies
Aidin Salamzadeh, University of Tehran
PhD Researcher at the Faculty of Entrepreneurship, University of Tehran. He has several publications in international journals and participated in several conferences in some countries. His main areas of interest are: startups, social entrepreneurship, entrepreneurial universities, and entrepreneurship policy making. He serves as the Editor-in-Chief of the Journal of Entrepreneurship, Business and Economics (Canada), and as a member of the editorial board in some journals such as JWE, and IE (Serbia), JEIM (Turkey), IJMP (Brazil), etc. He is also a member of the European SPES Forum, and the Asian Academy of Management.
David A. Kirby, The British University in Egypt
Holder of the prestigious Queen’s Award for Enterprise Promotion in the UK, in recognition of his pioneering research and teaching in the field. He joined The British University in Egypt as Founding Dean in 2007 and is a Lead Researcher on the Global Entrepreneurship Monitor (GEM) Programme for Egypt. He has won various national and international awards for his research and has been the Director of the Institute for Small Business and Entrepreneurship in the UK and Director and Senior Vice President of the International Council for Small Business. He holds Fellowships of the Royal Society of Arts, the Institute of Consultants and the Institute of Higher Education. He has published some 16 books and research monographs and over 120 papers in academic and practitioner journalsAuthors who publish with this journal agree to the following terms:
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