Let’s Focus On Us - NVTs And Their Team Formation In Their Earliest Stages

Abstract

The New Venture Team (NVT) formation process is understudied. This study examines the early-stage process of NVTs in a Venture Creation Program (VCP). A unique, in-depth data set consisting of 51 qualitative interviews uncovers deep insights into these young startup teams' complex and interconnected team dynamics. By studying groups within a VCP, this research not only contributes to the limited literature on this type of entrepreneurial education, but also provides insight into the resource use of NVTs overall. We describe the team formation process in an NVT in an integrative model. We define the most relevant team dynamics in this team formation process. We contribute by providing insights about the most impactful resources the VCP provides to the entrepreneurs in their early stages. This real-time, process-focused study offers important implications for understanding the stages an early-stage NVT passes through in its initial formation. In addition to expanding the body of literature on early-stage NVTs, our findings enable better self-management of NVTs and better management of resources in VCPs.