The development of effective new venture teams in venture creation programmes

The purpose of this study is to explore how effective new venture teams are developed in venture creation programmes.

This paper presents a multiple case study focusing on the development of effective new venture teams. Semi-structured interviews with 15 new venture teams from two different venture creation programmes were conducted and an abductive analysis approach was used.

Three key phases of the development of an effective new venture team are identified: (1) establishing a foundation for collaboration, (2) structuring the teamwork and (3) adapting to changes. Key activities undertaken by effective new venture teams in each phase are explicated. The findings suggest that new venture teams that are able to establish a foundation for team collaboration and teamwork structuring have the capacity to persevere through the challenges inherent in emerging ventures.

This study offers a much-needed practical perspective about how effective new venture teams are developed in venture creation programmes, and how venture creation programme educators can facilitate the development of effective new venture teams. For educators, these findings provide important insights about team-based learning in entrepreneurship education.