A main purpose of this study is to establish the conceptual framework for identifying success factors of technology-based small ventures(venture companies). For the purpose, the existing studies on start-up company, entrepreneurial firms, small firms ...
A main purpose of this study is to establish the conceptual framework for identifying success factors of technology-based small ventures(venture companies). For the purpose, the existing studies on start-up company, entrepreneurial firms, small firms with competitive advantage against large firms, high-tech firms, technology-based firms, and venture-capital vacked firms were reviewed. We found that factors such as characteristics of entrepreneur, environment, competitive strategies, resource capabilities, and organizational structure have been considered as the main influences on the performance of venture business. With a conceptual framework, we suggest 12 propositions which explain the impact of the success factors on venture performance.