In this study we focus newly established companies within the wave and tidal energy industry. Companies in this industry have not yet reached the phase of commercial production and sales. Our study investigates presents three case companies, analyzing their development pattern and how they access resources through international activities in the pre-commercial phase. The results reveal extensive international activities, were the companies seek for and exploits resources from a variety of countries even the early phases of their development. In fact, they are willing to establish large part of their activities in foreign countries (and even move their home base) to access resources. A key implication for managers is the need of balancing international use of resources and international access to resources. From the perspective of policy makers, the case study illustrate how countries and regions compete in order to attract the attention from and activity of firms in an emerging industry. These companies relocate activity across borders depending on the support framework offered. For researchers, the study demonstrates the need of focus on the international dimension of firm activity as early as in the pre-commercial phase
Entrepreneurship may be regarded as the mechanism of change towards sustainability. Any entrepreneur that seeks to start a new venture in an emerging industry will face resource and time constraints. The question we raise here is how the entrepreneur should prioritize use of time and resources to increase likeliness of success. To address this question we depart from a theoretical perspective of entrepreneurship seen as judgment, and bridges it over to entrepreneurship seen as co-creation. In other words, we combine the subjective with the intersubjective, and explore the effects of the actions successful green technology entrepreneurs in the emerging offshore renewable energy industry make in building their new ventures in nascent markets. Inspired by earlier studies on market entry, combined with new ways to understand new venture emergence, we find that independent entrepreneurs benefit from leapfrogging typical stages in the technology development process and rather devote time and efforts on resource acquisition. We also find that the most important value-capturing, decision-making heuristics are those related to "hybrid governance". We discuss implications for theory, practice, and policy.
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