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Rapid Globalization of Technology Startups

Carleton.ca/tim. Rapid Globalization of Technology Startups. Tony Bailetti November 1, 2012. Abstract Information on first three years of 21 technology startups in 12 countries was examined to identify what startups did to internationalize early and rapidly. Observation & research questions

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Rapid Globalization of Technology Startups

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  1. Carleton.ca/tim RapidGlobalizationof Technology Startups Tony Bailetti November 1, 2012

  2. Abstract Information on first three years of 21 technology startups in 12 countries was examined to identify what startups did to internationalize early and rapidly Observation & research questions What we did What startups do Our interpretation Next steps Reference AGENDA

  3. OBSERVATIONS • Technology startups that internationalize early and rapidly ignore conventional approaches and perform better • Conventional approaches to internationalization are too costly, take too long, are too risky and frustrate innovative individuals and organizations • Investors pay more for startups that grow rapidly outside of home market page 3 page 3

  4. RESEARCH QUESTIONS • What do technology startups do to globalize early and rapidly? • How can Carleton support the launch and growth of technology companies that are global from inception? • Is rapid internationalization from inception for everybody? Downside of rapid globalization?

  5. WHAT WE DID • Reviewed six literature streams • Defined criteria to identify technology startups that globalized early and rapidly • Searched for startups that met criteria worldwide • Examined what these startups did to globalize early and rapidly • Identified factors that drive early and rapid globalization page 5 page 5

  6. SIX LITERATURE STREAMS • Rapid internationalization • International new ventures • Effectuation logic • Global startups • Gradual internationalization process models • Multinational enterprise theory and OLI model page 6 page 6

  7. SIX LITERATURE STREAMS • Acquire and deploy knowledge quickly • Secure commitments to act jointly and quickly • Use the Internet to sell • Build relational capital • Gain legitimacy • Strengthen global capability page 7 page 7

  8. SAMPLE: 21 STARTUPS page 8

  9. 12 COUNTRIES page 9

  10. 8 TECHNOLOGY TYPES page 10

  11. page 11

  12. WHAT SAMPLE STARTUPS DID • Address problem that was pervasive globally • Use collaborative entrepreneurial processes to globalize early and rapidly • Use Web processes to provide infrastructure page 12 page 12

  13. WHAT STARTUPS MUST GET RIGHT • Knowledge about a questions and its answer that are important to large and growing number of foreign and domestic organizations • Stakeholders’ commitments to develop a novel, narrow, and differentiated solution quickly • Collaborative entrepreneurship at a global scale • Relational capital • Legitimacy • Global capability development page 13 page 13

  14. NEXT STEPS • Launch and grow technology startups designed to be global at inception • Establish healthy business ecosystem to support technology startups that internationalize rapidly from inception • Transfer lessons learned to others • Deliver a leadership proof point www.timreview.ca/article/569

  15. RECENT REFERENCE • What technology firms must get right to globalize early and rapidly (2012) http://timreview.ca/sites/default/files/article_PDF/Bailetti_TIMReview_October2012.pdf page 15

  16. THANK YOU! page 16

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