Knowledge and networks in the global startup process

Developing a Social Network as a Means of Obtaining Entrepreneurial Knowledge Needed for Internationalization

“…For example, technological knowledge and business knowledge could be used in assessing the feasibility and desirability of an offering, while knowing the clients' readiness and their decisionmaking process can lead to future business (Englis et al, 2007). Lastly, the ability to accumulate, manage, and mobilize knowledge to achieve specified business goals for growth are antecedents to successful entrepreneurship (Kuemmerle, 2002).…”

“…First of all, technological knowledge is organized tacit knowledge that is associated with the firm's functionality and application offerings (Englis et al, 2007). The most resourceful way of extracting this kind of knowledge is through the combination of an international and domestic network because knowledge in relation to human resources can best be obtained internationally through sharing information with other business people, whereas that which is developed in R&D facilities is much easier to obtain locally.…”

“…Second, experiential knowledge consists of knowledge about venturing, network experience, and internationalization, which is essential because firms tend to trust past knowledge accumulated from experience more than new information during an expansion process (Englis et al, 2007). Specifically, venturing knowledge is needed by firms to ensure sustainable creation of value through the exploitation of the venture opportunity (Van der Veen & Wakkee, 2004).…”

“…Having knowledge about customers' willingness and ability to cooperate appears to be a foundation upon which a small or medium-sized business can expect its future business to develop. Also, knowledge associated with product offerings and the weaknesses and strengths of rivals and competitors, provides global startups with an improved offensive and defensive strategy with respect to identifying opportunities and threats (Fleisher & Bensoussan, 2007), as well as developing competitive strategies to differentiate it from its competitors (Englis et al,. 2007).…”

“…New ventures that wish to expand their business in new foreign markets have to overcome a lack of legitimacy and their liability of newness, smallness, and foreignness (Englis et al, 2007;Sepulveda & Gabrielsson, 2013). Entrepreneurs have to rely on their networks to overcome their shortcomings.…”