gerencial, este estudio muestra en dónde enfocar las iniciativas de IMN para lograr presencia internacional y crecimiento de forma sostenible. Keywords International new ventures. Business model innovation. Sweden community innovation survey Palabras clave nuevas empresas internacionales. innovación del modelo de negocio. encuesta sobre innovación en la comunidad de Suecia JEL classification 3 Entrepreneurship. 4 International business Summary highlights Contributions: This study contributes with new, large-scale, empirical findings to the emerging debate on the importance of business models of INVs as well as on how INVs are developing beyond the stage of initial international market entry by applying the business model lens. Purpose/research question: The purpose of this study is to examine the INV-specific value capture-and delivery-centered business model innovations. A particular focus is on innovations accompanied by changes in the relationships with firm's supply and demand side partners and the resulting external relationship handling processes in comparison with other internationalized firms. Findings/results : The findings show that INVs are more likely to innovate their business models in the areas of external relationships, sales channels, and logistics compared to other types of internationalized firms in the sample. Limitations : A number of limitations are present in this study. Firstly, the empirical context of a single, small, and open economy of Sweden. Studies in economies of different structure might yield different results. Additional elements of business model innovation could be included aside from the ones scrutinized in this study. Theoretical implications and recommendations : This study displays that INVs innovate their business models more frequently than other internationalized firms and suggests that INVs can have different business model configurations that allow them to remain internationally competitive beyond early internationalization. Thus, the study highlights the business model lens as a theoretical frame for understanding the development of INVs over time. Practical implications and recommendations : The study highlights the significance of managing external relationships dynamically for INVs as well as avoiding getting locked into certain sales channels or logistical modes of operation which may ultimately impede international development. New types of relationships, logistical methods, and sales channels are necessary as the once early-stage INV develops and grows on international markets.
