Principal Topic

The research presented in this paper focuses on key factors influencing the establishment and early growth of technology- and knowledge-based new ventures in Denmark. The study combined theories of human and social capital paying primary attention to the variables affecting venture creation, survival, and growth. The establishment and subsequent development of new enterprises in high-tech and knowledge-intensive sectors was investigated in relation to the educational and professional background of entrepreneurs, as well as their personal and professional social networks. Secondary aspects included questions of male vs. female entrepreneurship, internationalisation, and business success/failure.

Method

The research design is longitudinal and combines quantitative and qualitative data. Web-surveys and in-depth case studies are used. Data collection will be repeated once a year for three years. The first data collection took place in the autumn/spring of 2000/01. This paper presents the first results. Entrepreneurs in- and outside Danish technology and business incubators (TBIs) and science parks have been selected to enable a comparison of enterprise development and to highlight the extent to which external factors influence the growth of new technology- and knowledge-based ventures.

Results and Implications

Danish technology and knowledge-based ventures are established mainly in the information and communication technology (ICT) sector and in the biotech and life sciences sector. Entrepreneurs in these sectors differ substantially with regard to age, educational background, career aspirations, expectations towards the future, and growth strategies. Formal and informal networks are important in the establishment and first growth phases but there are distinct sector differences. The perception of TBI’s influence on venture development is ambiguous and calls for further analysis.

CONTACT: John P. Ulhøi, Department of Organisation and Management, The Aarhus School of Business, Haslegaardsvej 10, 8210 Aarhus V. Denmark; jpu@asb.dk