Title: Beyond traditional developmental models: a fresh perspective on entrepreneurial new venture creation

Authors: Alexander Becker; Dodo zu Knyphausen-Aufseß; Alexander Brem

Addresses: Technische Universität Berlin, Straße des 17. Juni 135/H 92, 10623 Berlin, Germany ' Technische Universität Berlin, Straße des 17. Juni 135/H 92, 10623 Berlin, Germany ' University of Southern Denmark, Alsion 2, 6400 Sønderborg, Denmark

Abstract: Opportunity discovery and creation are key areas of research in entrepreneurship literature. Based on the ongoing discussion, this paper proposes an integrative view of a dynamic multi-stage new venture emergence. In particular, the findings of our research show how to match these approaches with the life cycle stages of an emerging venture. This paper contributes to existing entrepreneurship research by acknowledging the value of parallel sequential process combinations, by including customer demand as part of a market participant's selection criteria, and by recognising failure as valuable outcome. The implication for entrepreneurs is that, beyond discovering a potential venture idea, substantial development efforts are required to form a sustainable business model. For entrepreneurship research, our model is a first step towards an integrative discussion of new venture emergence aimed at fostering further research and the advancement of new theoretical insights.

Keywords: new venture creation; new venture emergence; opportunity discovery; opportunity creation; effectuation; causation; developmental process model; entrepreneurship; sustainable business models.

DOI: 10.1504/IJEV.2015.068591

International Journal of Entrepreneurial Venturing, 2015 Vol.7 No.2, pp.152 - 172

Available online: 06 Apr 2015 *

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