Dynamic knowledge nets – the 3C model: exploratory findings and conceptualisation of entrepreneurial knowledge constellations

Purpose – The purpose of the paper is twofold: first, it develops a knowledge‐based view of the development of networks in new venture settings and second, it provides a dynamic view of knowledge networks. That is, it aims to pay attention to the development and destruction of networks. Design/methodology/approach – The paper follows a grounded theory approach to develop the model of dynamic knowledge networks. The interviewees came from the following backgrounds: university researchers engaged in entrepreneurial ventures; entrepreneurs that run spin‐off companies; entrepreneurs in a university incubator or science park; incubator managers; university innovation managers; and innovation fund administrators. Findings – The paper finds that the 3C model which is developed from qualitative findings has three core dimensions: knowledge exchange, knowledge structure and network dynamics that stretch across three key new venture phases: conceptualization, commercialization and cultivation. The paper also finds that entrepreneurs build networks because of their particular knowledge needs, once fulfilled these networks are destroyed and new networks are established. The 3C model therefore provides a dynamic perspective on knowledge networks. Research limitations/implications – The paper shows that a grounded theory approach is limited by it generalisability. The paper has developed a detailed view of knowledge networks in a particular context. Therefore, future research could usefully apply this model to other settings. It would also be useful to conduct further exploratory research into the interimistic nature of knowledge networks. Practical implications – The paper points to the importance of cross‐boundary knowledge exchange. It needs to look beyond the boundary of a particular unit, such as a firm, to develop the understanding of the dynamics of knowledge management. Second, the context of the knowledge network becomes important managerially. The network has a purpose. It is knowledge‐need driven and this purpose changes remarkably over time. Finally, the creative destruction of knowledge networks needs to be anticipated and managed. Originality/value – The paper provides a knowledge‐based perspective on entrepreneurial networks. The 3C‐model, which is grounded in reliable data includes several stakeholders in an entrepreneurial network which is in itself valuable and original.