Knowledge Acquisition, Network Reliance, and Early-Stage Technology Venture Outcomes

Knowledge acquisition is central to entrepreneurship when explaining successful venturing. However, little is known about how knowledge acquisition during early venture development affects desirable venture outcomes. This study draws on the knowledge-based view and social network theory to develop and test a conceptual model of knowledge acquisition using a sample of early-stage technology entrepreneurs operating in university-affiliated incubators. We examine how an entrepreneur's acquisition of different types of knowledge and reliance on their network for knowledge relate to outcomes of product/service innovativeness and first-year venture sales. Results suggest that acquiring technology knowledge positively relates to the innovativeness of products/services developed by entrepreneurs. Moreover, entrepreneurs can enhance this positive relationship by relying more on networks for technology knowledge acquisition.