New venture dissolution and the comobility of new venture teams

There is lots of empirical research that investigates the emergence and growth of team-based new ventures. But what happens with these new venture teams when the business they established closes? Do these teams outlive the startup itself? In this study, we investigate this topic in detail by following the career trajectories of new venture team (NVT) members. Based on a sample of 2400 team-based Danish startups, we find that 18% of NVT members continue their collaboration. The results demonstrate that similarity between NVT members, the extent that they are engaged in knowledge intensive work, and prior joint work experience are drivers of such comobility. Also, we find that NVT comobility often means re-entering into entrepreneurship. The fact that such comobility is common and that many re-enter into entrepreneurship means that our study has implications for both research and practice. More specifically on how learning from failure takes place in the setting of NVT teams.