Failure prevention and management in business incubation: practices towards a scalable business model. Issue 3 (4th March 2019)

• Record Type: Journal Article
• Authors: Nair, Sujith; Blomquist, Tomas
• Is Part Of: Technology analysis & strategic management. Volume 31:Issue 3(2019)
• Page Start: 266
• Page End: 278
• Publication Date: 2019-03-04
• Subjects: Business incubation -- business model -- failure management -- value creation; Technological innovations -- Management -- Periodicals; Research, Industrial -- Management -- Periodicals; High technology industries -- Management -- Periodicals; Strategic planning -- Periodicals; 658.401205
• DOI: 10.1080/09537325.2018.1495325
• Languages: English
• ISSNs: 0953-7325

Abstract

ABSTRACT: How support systems such as a business incubator deal with failure, a common phenomenon in new venture creation, is less understood. Employing a value creation perspective helps us to understand failure, the inability of an entrepreneurial team to build a scalable business model. Based on case studies at nine Swedish business incubators, we develop a dynamic process model towards understanding failure prevention and management in business incubation. We find business incubation practices towards failure prevention and management to be a mix of predictive and non-predictive strategies. These practices could help prevent and mitigate failure at personal, organisational and social levels towards value creation for the startups and their stakeholders and channel the effects of failure towards social benefit.