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The roles of innovation strategy and founding team diversity in new venture growth

Shuangfa Huang, Martina Battisti, David Pickernell Orcid Logo

Journal of Business Research, Volume: 158, Start page: 113653

Swansea University Author: David Pickernell Orcid Logo

  • Accepted Manuscript under embargo until: 11th July 2024

Abstract

Using fsQCA, this study explores how a venture’s strategy, as well as founding team knowledge diversity and demographic diversity interact to explain revenue growth of new ventures. Based on a longitudinal dataset containing 210 new ventures, we find that the effects of team diversity are complex su...

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Published in: Journal of Business Research
ISSN: 0148-2963
Published: Elsevier BV 2023
Online Access: Check full text

URI: https://cronfa.swan.ac.uk/Record/cronfa62268
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Abstract: Using fsQCA, this study explores how a venture’s strategy, as well as founding team knowledge diversity and demographic diversity interact to explain revenue growth of new ventures. Based on a longitudinal dataset containing 210 new ventures, we find that the effects of team diversity are complex such that different diversity conditions explain short-term (i.e. one year) compared to sustained growth (i.e. over three years) and that their role is contingent on the venture’s strategy. We identify three recipes that explain revenue growth in the short-term and four recipes that explain revenue growth in the longer-term. One recipe is the same for both time periods pointing towards the potential role of imprinting of certain team diversity conditions in combination with an innovation strategy. Our findings provide a nuanced and in-depth picture of the relative relevance of an innovation strategy, knowledge diversity, and demographic diversity at distinct stages of venture founding.
Keywords: start-up, team diversity, innovation, imprinting, fsQCA
College: Faculty of Humanities and Social Sciences
Funders: This research did not receive any specific grant from funding agencies in the public, commercial, or not-for-profit sectors.
Start Page: 113653