Lean startup for opportunity exploitation in technology new ventures

What is it about?

In this paper, we investigated how Brazilian biotechnology, engineering, and software startups tentatively adopt Lean Startup to exploit opportunities and whether Lean Startup is suitable to their emerging economy context. We employed qualitative analyses drawing on direct observation, interviews, and archival material from nine technology new ventures to understand how the entrepreneurs tackle the activities of opportunity exploitation – namely, developing a product or service, acquiring human resources, gathering financial resources, and setting up the organization

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Photo by ThisisEngineering RAEng on Unsplash

Photo by ThisisEngineering RAEng on Unsplash

Why is it important?

From our investigation, we identified six contextual constraints hindering the systematic adoption of Lean Startup, and we reveal how technology new ventures cope with such constraints in their early stages by integrating Lean Startup with complementary strategies and practices. The study also reveals that the systematic and comprehensive adoption of LS nurtures the development of an entrepreneurial experimental capability to explore opportunities in a quasi-scientific and hypothesis-driven fashion.