New Venture Ideas: An Analysis of Their Origin and Early Development

Posted: 24 Nov 2009

Date Written: 2005

Abstract

Focuses onthe development of businessideas and the processes by which ideas are created, an area in which littleresearch has been done.Five firms that participated in theEntrepreneurship and New Business Development Programme at Linköping Universityin Sweden are analyzed. The five firms include A-TV, A-Tech, S-Tire,M-Qon, and M-Point.Information onthe origin of eachfirm'sinnovation or idea, and the continued improvement upon the originalidea, is gathered through interviews of the founders of each firm. Compares and contrasts the initial strategies utilized by each firm to gainsupport for their respective innovative ideas. Among thefindings:idea development is initially technique driven; creating anddeveloping an idea takes an intense amount of research and thought; manycompeting ideas may exist initially; founders are often underprepared for thesoft parts of business development; idea development does not initiate untilfounders become more receptive to external influences; and the economiccondition of the environment plays a significant role in developingideas. (AKP)

Keywords: Idea generation, Innovation process, Nascent entrepreneurs, Technology based firms, Business conditions, Firm gestation, Firm strategies, Founders, Opportunity development, Opportunity recognition, Startups

Suggested Citation

Klofsten, Magnus, New Venture Ideas: An Analysis of Their Origin and Early Development (2005). University of Illinois at Urbana-Champaign's Academy for Entrepreneurial Leadership Historical Research Reference in Entrepreneurship, Available at SSRN: https://ssrn.com/abstract=1509215

Magnus Klofsten (Contact Author)

University of Linkoping ( email )

Överstegatan 30
S-581 83 Linkoping
Sweden
+46-13-28 1785 (Phone)

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