New venture creation: How start-ups grow?
| Autor | Aidin Salamzadeh - David A. Kirby |
| Cargo | PhD Researcher at the Faculty of Entrepreneurship, University of Tehran - 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 |
| Páginas | 9-29 |
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AD-MINISTER
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.
KEYWORDS
New Venture Creation; Start-up; SME; Growth; Ideation; Opportunity.
RESUMEN
Las empresas emergentes (start-ups), con frecuencia vistas como fuentes de innovación y cambio,
son propensas al fracaso, y en consecuencia, están atrayendo considerable atención especialmente
por parte de los legisladores y representantes del gobierno. Sin embargo, los diferentes estudios sobre
nuevos emprendimientos que han surgido desde principios de los años ochenta carecen de cohesión
y el área de interés continúa siendo controversial. Este artículo no solamente expone las limitaciones
de la manera en que se ha comprendido este tema, sino que busca desarrollar un marco más amplio y
comprensible para la creación de empresas emergentes (nuevos emprendimientos). Para lograr esto,
utiliza bases propuestas por Whette y por March y Smith para desarrollar 11 proposiciones. El modelo
resultante sugiere que la creación de start-ups involucre la identificación de una idea o una oportunidad
por parte del emprendedor, quien posteriormente organiza una serie de actividades, moviliza recursos
AD-minister Nº. 30 january-june 2017 pp. 9 - 29 · ISSN 1692-0279 · eISSN 2256-4322
NEW VENTURE CREATION: HOW START-UPS GROW?
CREACIÓN DE NUEVOS EMPRENDIMIENTOS: ¿CÓMO CRECEN LAS
START-UPS
?
AIDIN SALAMZADEH
DAVID A. KIRBY
JEL: L, M
Received: 19-10-2016
Modified: 15-11-2016
Accepted: 22-12-2016
DOI: 10.17230/ad-minister.30.1
www.eafit.edu.co/ad-minister
Creative Commons (CC BY-NC- SA)
1 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. Institutional Email address: salamzadeh@ut.ac.ir
2 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 Presi-
dent 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 journals. Institutional Email
address: dkirby@bue.edu.eg
Aidin Salamzadeh · David A. Kirby
New venture creation: how start-ups grow?
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AD-MINISTER
y crea competencias a través del uso de sus redes en determinado ambiente con el fin de generar valor. Este
artículo da claridad sobre el proceso de creación de start-ups (nuevos emprendimientos) y tiene relevancia para
empresarios, legisladores e investigadores.
PALABRAS CLAVE
Creación de nuevos emprendimientos; empresas emergentes (start-ups); PYME; crecimiento; ideación; opor-
tunidad.
INTRODUCTION
Variously referred to as a journey from conception to birth (Evers, 2003), start-up
(Vesper, 1990; Van de Ven and Poole, 1995; Salamzadeh, 2015a,b), preorganisation
(Katz and Gartner, 1988; Hansen, 1991), organization in vitro (Hansen and Wortman,
1989), pre-launch (McMullan and Long, 1990), gestation (Reynolds and Miller, 1992),
entry (Lumpkin and Dess, 1996; Gonzalez-Perez and Velez-Ocampo, 2014), start-up
companies are currently seen as engines of innovation in society (Brockho and
Guan, 1996; Dushnitsky and Lenox, 2005; Khajeheian, 2014) and as a means of entering
new markets (Zejan, 1990). These entities are, however, both agile and fragile (Blank,
2010; Lanciano-Morandat and Verdier, 2010). It is clear that start-up (new venture)
creation requires a series of actions. To create a start-up, therefore, relies on actions
based on an idea or opportunity (Vesper, 1990; Bhaves, 1994; Deakins and Whittam,
2000; Serarols, 2008; Dimov, 2010; Becker et al., 2015; Salamzadeh & Kesim, 2017). A
typical founder of a start-up or new venture, i.e. the entrepreneur, is mostly focused
on his/her idea. This concentration might lead to mismanagement or failure of the
start-up. Most start-up founders miss some points or critical stages, and this could
increase the rate of failure (e.g. see, Pretorius and Holtzhauzen, 2008; Salamzadeh
and Kesim, 2015). Thus, although rational economic man is always criticized in real
world situations, taking a series of actions in a logical sequence should lead to a
higher rate of success (e.g. see, Delmar and Shane, 2004; Haugh, 2007).
Moreover, there is currently a surfeit of theories and models that attempt to explain
new venture (start-up) creation. Yet, the existing theories and models are in their
embryonic stage, and the evidence is fragmented (Salamzadeh, 2015b). Thus, on the
one hand, there is a limited common understanding of the concept, and scholars have
paid attention to dierent aspects of the phenomenon, while on the other, these entities
are drawing the attention of entrepreneurs, intended individuals, businesspeople,
investors, and even policy makers, as there is a growing need to define them and
propose conceptual frameworks for their study. Recently, for instance, Kuratko et
al. (2015) investigated the existing approaches in entrepreneurship research, and
defined eight major themes- i.e. venture financing, corporate entrepreneurship,
social entrepreneurship and sustainability, entrepreneurial cognition, women and
minority entrepreneurs, the global entrepreneurial movement, family businesses,
and entrepreneurial education- which characterize research about entrepreneurs
and new venture creation. They highlighted the importance of studying the existing
trends, and taking steps forward to define those themes. Moreover, Moroz and Hindle
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