Developing First Products in New Ventures
Friday, October 4, 2013 – ( 10:30 am to 11:30 am )
Location: Babbio Center 430
Dirk Libaers, Ph.D., University of Missouri-Kansas City
This study examines the antecedents and outcomes of new venture first product development, building on the entrepreneurship and new product development literatures. Our empirical analysis of first products launched by 496 new ventures from 1998 to 2004 reveals some surprising findings that have important theoretical and managerial implications. First, our results challenge the conventional “the more the better” perspective about new venture resources. Second, supplier involvement has an inverse-U-shaped effect on product launch timing. Third, the relationship between product differentiation and product performance is U shaped, as are the relationships of research and development (R&D) expenditure with product differentiation and timing of product introduction. We find that new ventures should pursue a “high product differentiation” strategy for first products only when sufficient R&D resources are available.
Dirk Libaers is an Assistant Professor of Entrepreneurship and Innovation at the Regnier Institute for Entrepreneurship and Innovation, University of Missouri-Kansas City. He received his PhD from the Georgia Institute of Technology in 2008. His research interests include: University Entrepreneurship, NPD in New Ventures, the Geography of Small Firm Innovation, and Open Innovation Practices in a New Venture Context.
Contact: Howe.Stevens.edu for more information