Success in Israeli high-tech start-ups; Critical factors and process
By Schaul Chorev, Alistair R. Anderson. 2006
195 citations recorded by the source corpus.
This paper develops a model of the factors deemed critical for success in high-tech new ventures in Israel. Israel presents an interesting forum, geographically distant from main markets but richly endowed with human capital, new high-tech ventures are seen as an essential element of the economy. Yet, despite its importance, high-tech is characterised by risk and challenge. Consequently, a model which draws on the experience of success and failure should be valuable. Our multi stage methodology enrolled the wisdom and experience of founders, managers and financiers of high-tech businesses to identify and categorise the importance of the factors and the role played by these factors. We found that success factors could be grouped as critical or as important. The first group categorised the idea, strategy, the core team's commitment, expertise and marketing as critical. Important factors were deemed to be management, customer relationships and research and development. The least important factors proved to be those external to the firm, the economy, politics and the general business environment. Overall the study emphasises that the attitudes and abilities of the core team are paramount. Although the model is based on the Israeli experience, many of the aspects are global. Consequently, the study may have broad applicability.
Subfields: Accounting, Economics and Econometrics, Management of Technology and Innovation
View Paper: https://www.semanticscholar.org/paper/8a274f7ede6c2a17a6a2b8738b0d39d4b576a274
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Citations in the corpus
- Industry placement, authentic experience and the development of venturing and technology self-efficacy (2009, background): “Another example is found in Chorev and Anderson (2006), who place an emphasis on having comprehensive acquaintance with the market and a personal acquaintance with customers as important predictors of success.”
- Software development in startup companies: A systematic mapping study (2014, background): “Previous experience in similar business domains [76, 87, 86] and a working history in a team, exhibiting characteristics of an entrepreneur (courage, enthusiasm, commitment, leadership), also play a primary role [29, 30, 96] in the skill set of a startup employee.”
- Founder's human capital, external investment, and the survival of new high-technology ventures (2010, background): “In the case of Israel in the late 1990s, the comparative inexperience of many investors (Chorev and Anderson, 2006) may have contributed to their attraction to academic status but not to technological expertise.”