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Initial external knowledge sources and start-up growth

Author

Listed:
  • Stephan Weemaes

    (VIVES University of Applied Sciences)

  • Johan Bruneel

    (IESEG School of Management, LEM-CNRS 9221
    KU Leuven)

  • Ann Gaeremynck

    (KU Leuven)

  • Jonas Debrulle

    (IESEG School of Management, LEM-CNRS 9221
    KU Leuven)

Abstract

We investigate whether the presence of outside members in the board or buying ad hoc professional advisory services fuel short-term start-up growth. Furthermore, how the founding team’s initial knowledge stock as well as environmental uncertainty affect this relationship is examined. Our results only suggest a positive association between professional advisory services and start-up growth, which seem to suggest that the presence of an outside board member does not affect short-term start-up growth. We also find that the relationship between professional advisory services and growth is more pronounced when previous relevant industry expertise of the founding team is lower and technological opportunities in the environment are larger. Our findings advance understanding of the determinants of short-term start-up growth and are of practical relevance to entrepreneurs and policymakers.

Suggested Citation

  • Stephan Weemaes & Johan Bruneel & Ann Gaeremynck & Jonas Debrulle, 2022. "Initial external knowledge sources and start-up growth," Small Business Economics, Springer, vol. 58(1), pages 523-540, January.
    • Handle: RePEc:kap:sbusec:v:58:y:2022:i:1:d:10.1007_s11187-020-00428-7
    DOI: 10.1007/s11187-020-00428-7
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