Factors influencing the establishment of knowledge‐intensive ventures
International Journal of Entrepreneurial Behavior & Research
ISSN: 1355-2554
Article publication date: 14 March 2008
Abstract
Purpose
The importance of entrepreneurial activities and the establishment of new ventures for economic growth and employment have long been recognized. However, the interactions of underlying mechanisms whihc influence this process have not been understood all that well. In the light of this, a deeper understanding of various mechanisms on which knowledge‐intensive entrepreneurship hinges is needed. This paper aims to investigate how the make‐up of financial, human and social capital impacts on entrepreneurial action.
Design/methodology/approach
Based on a longitudinal study using both structured survey and in‐depth interview techniques, this research addresses the role and importance of financial capital, human capital and social capital in the organizational genesis and early growth of entrepreneurial activities.
Findings
Financial capital remains the most critical asset in the entrepreneurial process. However, possessing the right mixture of human and social capital is often a prerequisite for accessing the best capital sources as well as sufficient capital. The value of human and social capital, however, depends largely on the industry environment.
Originality/value
The findings give weight and insight to the understanding that it is important, for policy‐makers for example, to tailor support initiatives to specific industries.
Keywords
Citation
Madsen, H., Neergaard, H. and Ulhøi, J.P. (2008), "Factors influencing the establishment of knowledge‐intensive ventures", International Journal of Entrepreneurial Behavior & Research, Vol. 14 No. 2, pp. 70-84. https://doi.org/10.1108/13552550810863062
Publisher
:Emerald Group Publishing Limited
Copyright © 2008, Emerald Group Publishing Limited