Purpose The purpose of this study is to investigate the capabilities and roles of three types of actors, specifically technology-based start-ups, incumbent firms and intermediaries, in co-constructing a network for development and commercialization of an emerging technology. In particular, the research aims to understand how the roles played by network actors evolve during the development and commercialization process and what operational and dynamic capabilities are developed by actors through collaboration. Design/methodology/approach A single longitudinal case study methodology was applied to analyse roles and operational and dynamic capabilities developed in a network setting by multiple parties over time. Findings The findings indicate that actors need to take on new roles to be successful when dealing with an emerging technology in a network context and they need to develop certain dynamic capabilities to enact these roles. The study categorizes roles and capabilities of network actors through various stages of collaboration. Actors developed sensing capabilities in the pre-collaboration stage which drove joint new product development. During the collaboration, seizing capabilities were developed where resource commitment and alignment of resources among actors were essential. Capabilities gained through commercialization and large-scale production were predominantly transforming capabilities where actors realigned their structure and had positive impact on capability development in the wider network. Research limitations/implications Using data of a single case data may limit the applicability of the findings, which calls for future research. Practical implications The findings inform managers’’ and policymakers’ strategies related to participation in networks for development and commercialization of emerging technologies. The research provides insights about the role of large and small firms as well as intermediary organizations in development of nanotechnology and highlights that all network actors need to develop and utilize dynamic capabilities in all areas of sensing, seizing and transforming over time to be able to innovate and successfully commercialize a new product. Originality/value The research investigates evolution of operational and dynamic capabilities and roles of multiple actors over time in collaborative networks for development and commercialization of an emerging technology. Building on the dynamic capabilities concept, the study broadens our understanding of the evolution of these capabilities in a network setting and elaborates how capability development is linked to changes in roles.

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This study investigates how technology-intensive new ventures shape and manage their relationships with incumbents to successfully develop new products. We undertake the dynamic views of business relationship to reveal under what conditions new ventures should emphasises more on transactional contract or alliance approach to develop their relationships with incumbents. Using longitudinal multiple case analysis, we show that transactional contract is less effective during discovery and development stages to facilitate knowledge share and collaborative learning between new ventures and incumbents. However, adopting transactional contract is essential during commercialisation to strengthen the relationship, minimise the drawbacks of social bonds, and motivate both parties to engage in new projects. The results show that tensions between exchange partners are likely to increase when the incumbent is flexible to re-negotiate and share the fair benefits during the commercialisation stage. Our findings provide new insights about the evolution of new ventures’ relationships with incumbents across NPD stages.

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