Bound for glory or cursed for life? Exploring the impact of initial resources on the venture emergence of new technology-based firms

The value of existent firm's resources in uncertain and dynamic contexts is unclear. It is difficult to determine whether starting a new firm with a strong resource position will give an advantage in technology-intense contexts. We propose a revision of the role of resources in new tech-based ventures. We adopt a mixed-method approach. We use the cases of 21 new technology firms to build propositions on what factors (resources) play a role in new venture emergence. We then test to what extent those resources make an effect on the new venture emergence using a longitudinal dataset of 400 new technology-based firms. The results show that not all resources matter equally in the early-stages of a new technology-based firm. We identify that specific combinations of entrepreneurial experience and industry knowledge has a positive impact, while other resources such as technology assets, surprisingly, do not generate a clear impact.