Gestation, endowments, and knowledge flows around the time of venture creation
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191_2025_Article_899.pdf
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725.96 KB
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90436d059028e18a4f736483793ef58e
Author(s)
Coad, Alex
Kato, Masatoshi
Srhoj, Stjepan
Date Issued
May 5, 2025
Journal
Journal of Evolutionary Economics
Publisher
Springer Berlin Heidelberg
Citation
Coad, A., Kato, M. & Srhoj, S. Gestation, endowments, and knowledge flows around the time of venture creation. J Evol Econ 35, 387–414 (2025).
Version
Final published version
Abstract
Recent developments in venture creation are discussed, moving from a standard model of venture creation as a one-off binary decision (enter or not) to viewing venture creation in terms of knowledge endowments that differ according to the gestation process. We draw on the analogy that healthy newborn babies lose weight in the first few days after birth to investigate how nascent ventures slowly build routines and capabilities while drawing down their initial resource endowments. We critically discuss various themes, such as the paradox of new ventures without DNA (i.e., routines), misunderstandings about lean startups, accelerating vs. delaying a startup, and the timing of birth.
MIT Department
Massachusetts Institute of Technology. Department of Economics
Terms of Use
Creative Commons Attribution
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DOI of Published Version
https://doi.org/10.1007/s00191-025-00899-5
