Flexible Institutionalization: On the Role of Managerial Variables in Technology Start-ups

Despite the continuous rise in the establishment of technology-based start-ups (TSUs), the reported statistics indicate high failure rates for these ventures. This has led to a large body of research literature dealing with the identification and assessment of factors affecting TSU performance. Most studies have focused on various business variables or other business areas, including financial aspects, marketing issues, strategic planning, the technological development process, operational and quality management issues, timing of entry, lack of individual knowledge and ability during the founding process (Gartner, Starr, & Bhat, 1999), difficulties in managing the legal aspects, failure to establish and develop the relevant networks with key customers and suppliers (Roure & Maidique, 1986; Roure & Keeley, 1990; Littunen, 2000) and the failure to invest in learning (Schilling, 1998).