Open innovation in nascent ventures: Does openness influence the speed of reaching critical milestones?

卷:124

Article

关键词: PRODUCT DEVELOPMENT;    ENTREPRENEURIAL ORIENTATION;    CONCEPTUAL-FRAMEWORK;    ABSORPTIVE-CAPACITY;    TEAM FORMATION;    START-UPS;    PERFORMANCE;    NETWORKS;    MARKET;    FIRMS;   

DOI  :  10.1016/j.technovation.2023.102732

来源: SCIE

【 摘 要 】

Research on open innovation (OI) has demonstrated the benefits of openness for firm innovation processes, but studies have mostly offered cross-sectional insights on incumbent firms. This study offers a more dynamic perspective on the relevance of OI for nascent ventures. Combining entrepreneurship and OI theories, we argue that it is key for resource-scarce nascent ventures to achieve critical venture-creation milestones. While OI can help these ventures to leverage salient external partnerships, we argue that it affects their speed of reaching these milestones. We test our hypotheses on a longitudinal sample focusing on external collaboration practices of nascent ventures in the renewable energy or information and communications technology industries. Our results show that, while engaging in R&D collaborations slows down nascent ventures' product development and sus-tainable profit generation activities, joining industry associations does not have a slow-down effect. Our results complement the OI literature by warning about the downsides of openness for nascent ventures, particularly during the venture creation phase, where speed is a high priority.

【 授权许可】

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