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New ventures in an emerging industry: access to and use of international resources

Author

Listed:
  • Øyvind Bjørgum
  • Øystein Moen
  • Tage Koed Madsen

Abstract

This paper addresses the international activities of young companies in the emerging marine energy industry. Our study is constructed based on interviews with eight companies combined with scientific reports and publications. The primary challenges faced by the companies are related to financing and technology development. Our findings indicate that the companies may be divided into three groups: a) three technology- and funding-driven international ventures; b) one market-driven international venture; c) four companies with limited international involvement. The short time span between establishment and the first major international activity initiated to acquire funding or technology competence is a distinct characteristic of the firms in the first two groups. The last group with no or limited international activity reveals an alternative path. Our study provides insights on significant firm-level differences with respect to international involvement in the pre-commercial phases of development and discusses the implications for researchers, managers and public policy.

Suggested Citation

  • Øyvind Bjørgum & Øystein Moen & Tage Koed Madsen, 2013. "New ventures in an emerging industry: access to and use of international resources," International Journal of Entrepreneurship and Small Business, Inderscience Enterprises Ltd, vol. 20(2), pages 233-253.
    • Handle: RePEc:ids:ijesbu:v:20:y:2013:i:2:p:233-253
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    Citations

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    Cited by:

    1. Noelia, Franco-Leal & Rosalia, Diaz-Carrion, 2020. "A dynamic analysis of the role of entrepreneurial ecosystems in reducing innovation obstacles for startups," Journal of Business Venturing Insights, Elsevier, vol. 14(C).
    2. Seyed Meysam Zolfaghari Ejlal Manesh & Alex Rialp-Criado, 2019. "International ecopreneurs: The case of eco-entrepreneurial new ventures in the renewable energy industry," Journal of International Entrepreneurship, Springer, vol. 17(1), pages 103-126, March.
    3. Arslan Kulanov & Assiya Issakhova & Olga Koshkina & Parida Issakhova & Alma Karshalova, 2020. "Venture Financing and the Fuel and Energy Complex: Investing in Alternative Energy," International Journal of Energy Economics and Policy, Econjournals, vol. 10(5), pages 531-538.
    4. Arild Aspelund & Mohammad Javadinia Azari & Andreas Flåt Aglen & Sondre Gullord Graff, 2018. "The birth and development of a born global industry: The case of microelectronics in Norway," Journal of International Entrepreneurship, Springer, vol. 16(1), pages 82-108, March.
    5. Nelly Daszkiewicz, 2017. "Tradycyjna versus przyspieszona internacjonalizacja przedsiebiorstw z branz high-tech. Wyniki badan empirycznych," Problemy Zarzadzania, University of Warsaw, Faculty of Management, vol. 15(65), pages 164-175.
    6. Noelia Franco-Leal & Rosalia Diaz-Carrion, 2022. "How financing and information drive international corporate entrepreneurs’ innovations," Journal of International Entrepreneurship, Springer, vol. 20(2), pages 316-343, June.
    7. Ekaterina S. Bjornali & Ferran Giones & Anders Billstrom, 2017. "Reveal or Conceal? Signaling Strategies for Building Legitimacy in Cleantech Firms," Sustainability, MDPI, vol. 9(10), pages 1-19, October.
    8. Fahimeh Khatami & Veronica Scuotto & Norris Krueger & Valter Cantino, 2022. "The influence of the entrepreneurial ecosystem model on sustainable innovation from a macro-level lens," International Entrepreneurship and Management Journal, Springer, vol. 18(4), pages 1419-1451, December.

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