The Development of Collective Competencies in the Context of New High Tech Ventures

Please insert 1st line of postal address Engstien 1 Please insert 3rd line of postal address Please insert 4th line of postal address Please insert 5th line of postal address DK-6000 KOLDING Abstract This paper want to explore the development of collective competencies in the context of new high-tech ventures. New high-tech ventures face many problems in developing a new technology especially when they are established as research-based spin-offs. Even though technological competencies are critical in the start-up phase, new ventures have to focus on the market in order to succeed. This success is dependent upon the ability of the entrepreneurial team to coordinate different knowledge bases during different phases from foundation to commercialization, which can be described as the ability to develop collective competencies. An emperical study of a new research-based spin-off invovled in developing a new technolegy will be used to illustrate the development of collective competencies during the first year after start-up.