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Innovation strategy is critical for firms to achieve success in the market. However, relatively little is known about what factors promote the development of innovation strategy in high-tech new ventures. The purpose of this paper is to address this gap by developing and examining the theoretical model that links effectuation to innovation strategy through opportunity shaping in high-tech new ventures.

The proposed theoretical model is developed by integrating the effectuation theory, innovation strategy literature and opportunity literature. Empirical data were collected from 212 entrepreneurs and top executives in Chinese high-tech new ventures through a survey. Baron and Kenny’s (1986) mediation and moderation model assessment procedures are used to analyze the data.

The empirical results indicate that effectuation has a positive effect on innovation strategy and opportunity shaping. Opportunity shaping has a positive effect on innovation strategy, and its effect is positively moderated by competitive intensity. The author also finds that opportunity shaping plays a fully mediating role in the relationship between effectuation and innovation strategy.

These findings enrich innovation strategy research and advance the effectuation theory by providing empirical evidence of the impact of effectuation on innovation strategy in high-tech new ventures. The findings also contribute to a growing stream of research on opportunity and integrating opportunity shaping into a more complete framework of innovation. Moreover, this research provides deeper insight into the missing links between effectuation and innovation strategy in high-tech new ventures by uncovering the mediating role of opportunity shaping.

The purpose of this research is to analyze the development of high‐tech international new ventures as an acting process by individuals in relationship networks.

The study cross‐fertilizes research on internationalization of international new ventures, opportunity development of entrepreneurs and innovation development in technology‐based firms. A longitudinal case study on the development process of an international new venture operating in the software business is used as a base for analytical generalization and theory development.

The study illustrates events at three intertwined levels of acting on the development of an international new venture. It defines internal problem solving, external solution creation, opportunity selling and opportunity organizing as the behaviors driving the emergent, multi‐level process and embedding the venture in various networks.

Statistical generalization based on common patterns experienced by several firms was not sought in this study. Using the process research approach with event‐based analysis, the study, however, provides an in‐depth analysis of international new venture development through the actions of individuals at the level of key events. The methods for examining a complex development process over time can be utilized by other process researchers.

The complexity of building high‐tech international new ventures is, to a great extent, due to the necessity of handling the process at three levels simultaneously and in connection with one another. Since international new ventures are often based on business opportunities that have a short window of opportunity, the timeline creates further challenges. Embedding the business into various resourcing, legitimizing and otherwise assisting networks is crucial.

The study provides an insight into the ways of acting in networks that intertwines the internationalization, opportunity and technology development with development of a high‐tech international new venture. The study follows the development process in real time, something that is quite rare in previous international entrepreneurship research.

The purpose of this paper is to understand how high‐tech firms from China internationalize and to determine whether they follow the gradual internationalization model suggested by the Uppsala school and/or the rapid internationalization model as suggested by the “born global” stream of researchers.

This is an inductive and exploratory study that tries to understand questions of how and why. A multiple case study method is used to find empirical evidence for the a priori assumptions derived from the literature.

It was found that the gradual internationalization model is still valid although high‐tech firms from China internationalize much faster than suggested by earlier studies and they do not follow the process suggested by born global studies.

The authors develop a number of propositions that can be empirically tested in pursuit of theory building for the internationalization of smaller firms from emerging markets.

The paper compares and contrasts the models suggested by Uppsala studies and by researchers in the field of born global studies and provides concrete propositions that can be tested to develop a theory for emerging market firms.

The purpose of this paper is to investigate how institutional voids influence high‐tech ventures' innovation, and what strategies high‐tech entrepreneurs deploy to cope with the institutional environments they encounter.

A qualitative research approach was taken. In‐depth interviews were conducted with nine high‐tech entrepreneurs. In addition, governmental officials, overseas associations, and professional investors were interviewed for more/further observations.

Institutional voids may negatively influence high‐tech ventures' innovation. They might be moderated by guanxi and government active involvement. On the contrary, institutional voids can offer high‐tech entrepreneurs the opportunity to create innovative business models. The co‐evolution of institutional developments and high‐tech ventures illustrates the particular characteristics of Chinese entrepreneurial environment.

Qualitative study cannot simply be generalized, albeit this explorative study provides illustrative insights. Quantitative research (e.g. surveys), which is applied to test the propositions, calls for further scholarly inquiry.

Overseas entrepreneurs are presented with the opportunities to pursue an entrepreneurial career. SMEs from developed economies may join the movement with technology entrepreneurs to enter the Chinese market and co‐shape the market development.

Institutional voids were conceptualized from a multi‐dimensional perspective, namely national, regional, and individual. By providing qualitative evidence, different mechanisms to fill the institutional voids are explored.

High technology entrepreneurs have received increased attention over the past decade as it is now recognized that these entrepreneurs are able to build companies that generate high wage employment and high levels of wealth. While much anecdotal evidence has been offered as to who these entrepreneurs are, little is known about their early efforts to launch a high technology company. Based on the most recent data that specifically profiles nascent entrepreneurs throughout the United States, we extrapolate and discuss implications of our findings. Specifically, we identify who, where, when, and why these entrepreneurs are engaged in this important form of business launch. We conclude by suggesting how decision-makers and institutions can better facilitate and nurture the launch of high technology firms.

Beyond the widely acknowledged importance of new business, the role of young exporting high-tech business in Israel and many other small economies is seen as vital for economic growth. Israel is small and geographically isolated from the main markets, suffers from security difficulties, but fosters a culture, which promotes knowledge rich new technologies. Thus, new ventures with leading edge technologies and prospects of high growth and profitability offer a means to achieve the national goal of economical independence. Internationally however, the high-technology sector has recently suffered badly from the bursting of the dot.com bubble and the crash of the Nasdaq.

The purpose of this research is to explore, through the lens of a resource‐based view and dynamic capability theory, how new ventures in high‐technology industries accumulate resources to survive and sustain competitive advantage.

This study used the multiple case study approach completed for three integrated circuit (IC) design companies in Taiwan by conducting in‐depth interviews with senior executives in each case. Through the aforementioned case studies, the paper was able to summarize and verify the key elements and steps to find the customer and achieve the firm growth.

It was found that three core elements, technology, networking and legitimacy are necessary. In addition, there are emerging and embedding steps adopted by each case in this study for new ventures to successfully penetrate the market and sustain the competitive advantage.

The findings are focused on one country, and three cases of a specific industry in Taiwan. Future research can be conducted in different cultural contexts and different industries.

New ventures in high‐technology industries can follow the elements and steps suggested in this research paper to accumulate their initial resources. The strategy has been proven by the case studies therein and can be considered highly applicable.

The paper concludes that three key resources for sustaining a company's competitive advantages are necessary. Moreover, a well‐orchestrated management is especially essential for new ventures in high‐technology industries to succeed.

The aim of this study is to determine the existence of specific and unique features characterising markets, activities and customers in at least two of the most representative high technology sectors nowadays, the microelectronics/software industry and the biotechnology/biomedical industry. Cross‐Tabs statistical method has been used to analyze the data collected from the sample made up by 18 high‐tech American firms. One of the major findings of this study is that the business strategy will hold better prospects in those high‐tech firms benefiting from a higher technological excellence, having spent longer time in developing and launching their products, being able to keep longer the novelty attached to their products, being positioned in intermediate to final stages of the production chain.

This article focuses on “born globals” (Knight and Cavusgil 1996) and interfirm resources to explain international entrepreneurship. The theory posed here challenges the traditional image of international business as a long, gradual process not occurring until later in the life cycle, and applying only to large multinational corporations (MNCs). Increasingly, new ventures must expand their operations internationally early in their history in order to be competitive (Oviatt and McDougall 1994), and require infrastructure (Van de Ven 1993), or interfirm resources, for success. Specifically, firms may rely on three factors to expand internationally: cost factors, unique global resources, and networks.

The purpose of presenting this chapter is to provide a summary understanding of the high-tech entrepreneurial process in the health care industry by providing a model with flow chart depiction for clarity. In building the Integrated Model, over twenty stage models in the academic literature were reviewed. The academic literature, the authors experience in entrepreneurial endeavors, and research in case studies are combined to derive the Integrated Model. Two case studies are utilized to illustrate certain key points as the model is explained in detail, as well as to suggest some effective ways to cope with the unusual demands of the new venture process.