Entrepreneurial performance of early-stage ventures: dynamic resource management for development and growth

Effective allocation of resources for the development and growth of early-stage ventures (ESVs) is a continuous challenge for their equity stakeholders. This paper explores the relevance of intellectual capital (IC) as a critical resource for entrepreneurial performance in ESVs driven by new knowledge development and technological innovation. An interdisciplinary literature review is conducted to examine prior studies on entrepreneurial performance and resource management for ESVs. A conceptual framework is developed using a taxonomy of IC that explains how the underlying network resources enhance the development and growth of ESVs. Utilizing a multiple case study approach, this paper suggests a dynamic process of resource allocation into heterogeneous IC that are optimally coordinated by the founders during an ESV’s development and growth through interaction with external networks. This approach in resource allocation complements the staged entrepreneurial finance and investment strategy for ESVs and their subsequent developments.