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Growth factors of early-stage technology ventures : a life cycle model for business strategy

  • Growth is a key indicator of the prosperity of an economy. In today's Germany the " Gründerzeit " still describes a period of enormous economic growth. Factors that lead to growth haven't been investigated in the context of the different life cycle stages of early-stage technology ventures so far. This paper proposes a model of early-stage ventures' growth based on factors. From a theoretical angle, we look at the business from the market-based view (MBV) and the resource-based view (RBV) on strategy in the longitudinal perspective of the business life cycle. With this view we get to know what are the stage specific needs and processes of new technology based ventures in order to provide appropriate support. We tested different potential growth indicators for the model with a questionnaire-based survey which was answered by 68 high-tech entrepreneurs. The results suggest that growth factors are stage specific in their relevance. While leading to growth in one stage, certain factors evince no or even negative influence on growth in other stages. Moreover, RBV factors as seen more relevant for the growth than the MBV factors. Further research requires a large and representative population to validate the results. Keywords:-growth factors, early-stage ventures, market-based view, resources based view.

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Author:Lisa Hornberger, Marc König, Konrad ZerrGND, Guido H. BaltesORCiDGND
Parent Title (English):International Conference on Engineering, Technology and Innovation (ICE/ITMC), 27-29 June 2017, Madeira, Portugal
Document Type:Conference Proceeding
Year of Publication:2017
Release Date:2019/08/02
Tag:Growth factors; Early-stage ventures; Market-based view; Resources based view
First Page:964
Last Page:972
Relevance:Keine peer reviewed Publikation (Wissenschaftlicher Artikel und Aufsatz, Proceeding, Artikel in Tagungsband)
Open Access?:Nein
Licence (German):License LogoUrheberrechtlich geschützt