Regional Legacy Effects on Radically Innovative New Ventures’ Risks

Innovative new ventures (INVs) cope with the lack of legitimacy and liability newness that may hinder their likelihood survival. Those risks increase novelty introduced by INV. Radically INVs are ones have highest degree novelty, and, consequently, face risks. Understanding elements mechanisms sustain radically is paramount importance due to great benefits they bring society. This article explores how regional legacy, defined as combined effect business industrial practices culture, supports those in facing The culture tradition create a sense familiarity stakeholders facilitates understanding INV, lowering legitimacy. Meanwhile, shared within region favours creation collaborative climate allows access relevant resources finally, reduce newness.