Keywords: new ventures, low–tech entrepreneurship, knowledge–intensive entrepreneurship, KIE, competitive advantage, autotelic capabilities, bricolage, improvisation, strategic management, resources, transcendental capabilities, corporate ventures
The nature and dimensions of autotelic capabilities in knowledge–intensive low–tech ventures: an introduction
The autotelic capabilities framework based on a multiple–case exploratory research is a first endeavour to describe the nature and dimensions of the entrepreneurial capabilities, necessary for new low–tech but knowledge–intensive ventures to create strong and knowledge–based competitive advantages, in order to survive early death and prosper in an open economy. The dimensions of autotelic capabilities, bricolage, improvisational and transcendental capabilities, influence the location, selection and the ways of selection of resources and skills and use a priori knowledge in order to capture existing knowledge from various domains. They are strategic higher–order capabilities since they enable the shaping of the entrepreneurial ecosystem. The framework advanced can add to the understanding of core issues of the emerging stage of low–tech ventures and the creation of initial competitive advantage, while assisting entrepreneurs/managers select priorities and make relevant strategic decisions.