In this study, we examine the role of business model development in venture emergence, proposing that business models serve as cognitive schemas that translate prior entrepreneurial experience into startup action. Using a unique dataset of nascent technology ventures, we find that business model development significantly facilitates a venture’s startup progress and also fully mediates the relationship between the founder’s startup experience and venture progress. Further, our results indicate that more developed business models significantly increase the speed with which nascent technology ventures attract external resources. Our findings contribute to the literatures on new venture emergence, business models, and human capital.
|Title of host publication||Academy of Management Best Paper Proceedings|
|Place of Publication||Boston|
|Publisher||Academy of Management|
|Publication status||Published - 2019|
|Event||79th Annual Meeting of the Academy of Management - Boston, United States|
Duration: 9 Aug 2019 → 13 Aug 2019
|Conference||79th Annual Meeting of the Academy of Management|
|Period||9/08/19 → 13/08/19|
Denoo, L., & Yli-Renko, H. (2019). From experience to action: The role of business models in nascent technology ventures. In Academy of Management Best Paper Proceedings  Boston: Academy of Management.