IMPACT OF INITIAL CONDITIONS ON NEW VENTURE SUCCESS: A LONGITUDINAL STUDY OF NEW TECHNOLOGY-BASED FIRMS

This article examines the relationship between initial conditions and new venture performance. The study uses a longitudinal study of 92 new ventures in Beijing Overseas Students Pioneer Park at Haidian. This study finds that new venture performance is significantly impacted by the venture's initial conditions. Additionally, the effects of initial conditions are found to decrease as the entrepreneurial process continues. It is also found that new venture performance is impacted more significantly by factors relating to entrepreneurial quality and characteristics of the venture.