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Entrepreneurial Learning and Innovation: Building Entrepreneurial Knowledge from Career Experience for the Creation of New Ventures
Abstract
The relation between entrepreneurial learning and innovation is poorly understood – especially with respect to how entrepreneurs build up their capability to create new ventures. In this chapter we employ arguments from theories of experiential learning to examine the extent to which entrepreneurs’ prior career experience is associated with entrepreneurial knowledge that can be productively used in the new venture creation process. We relate entrepreneurial knowledge to two distinct learning outcomes: the ability to (1) recognize new venture opportunities, and (2) cope with liabilities of newness. Based on analysis of data from 291 Swedish entrepreneurs, we provide novel insights into how and why entrepreneurs differ in their experientially acquired abilities in different phases of the new venture creation process.
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