New Venture Creation: A Process-Oriented Approach

Entrepreneurship is a central economic driver that leads to technological advancements and new business opportunities. But entrepreneurship is an arena fraught with uncertainty, and entrepreneurs have to make a variety of decisions under these uncertain conditions. There are a number of pillars important to the process of building a new venture – the motivation, the team, and the idea itself. Taken under uncertain conditions, the decisions about these elements are fundamental strategic decisions that impact the outcomes for the new venture and dictate the potential direction new ventures may take. Perhaps the highest uncertainty could be attributed to the very early stages of the new venture creation process, given that there are too many moving factors, especially the idea and the team. Despite a number of studies documenting the various stages of the new venture creation process, there is a dearth of studies that zoom into the very early stages of the new venture creation process and understand how the decisions made during these early stages about the fundamental building blocks affect the new venture outcomes. Studying the very early stages of the venture creation process could provide critical insights that can potentially inform the strategic decisions that entrepreneurs have to make. Through the presentations and discussion in the proposed symposium, which involves both conceptual and empirical studies and both qualitative and quantitative studies, we aim to shed light on the various decisions at the very early stage of the process of new venture creation and the potential outcomes of these decisions for the new venture. The Role of Motivation & Attribution in Shaping the Careers of Employee Entrepreneurs Author: Sonali Shah; U. of Illinois at Urbana-Champaign Do Scientific Entrepreneurs Invest Financial Resources Differently? Evidence From Two RCTs Author: Chiara Spina; INSEAD Author: Daniele Battaglia; ESCP Business School Adaptations in New Ventures: The Dynamic Process of Entrepreneurial Team Formation Author: Moran Lazar; Coller School of Management, Tel Aviv U. Author: Gilad Chen; U. of Maryland Talking Past Each Other: Asymmetric Preferences, Construct Level and Entrepreneurial Team Formation Author: Steven Gray; U. of Texas at Austin Author: Travis Howell; Arizona State U. Author: Esther Sackett; Santa Clara U. A Scientific Approach to Entrepreneurial Teams: The Role of Team Validation Author: DEVIKA RAJ; Bocconi U.