Strategic Pivoting in Deep Tech: An Investigation of NSF I-Corps Teams

Cristiano Bellavitis; Mi Hoang Tran; Johan Wiklund

doi:10.1002/jsc.2619

Strategic Pivoting in Deep Tech: An Investigation of NSF I-Corps Teams

Cristiano Bellavitis, Mi Hoang Tran, Johan Wiklund

Research output: Contribution to journal › Article › peer-review

Abstract

This study examines the role of strategic pivoting in early-stage deep tech startups participating in the NSF I-Corps program. Analyzing data from 230 teams, we found that 95% of teams adjusted at least one component of their business model, with 66% making notable changes involving four or more components. The most frequently altered components were value propositions and customer segments, suggesting the importance of achieving product-market fit. Our findings emphasize the dynamic and iterative nature of business model development in deep tech startups, as well as the important role of strategic adaptability in overcoming the challenges of market exploration and commercialization.

Original language	English
Journal	Strategic Change
Early online date	21 Nov 2024
DOIs	https://doi.org/10.1002/jsc.2619
Publication status	E-pub ahead of print - 21 Nov 2024

ASJC Scopus subject areas

General Business,Management and Accounting
Finance

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abstract = "This study examines the role of strategic pivoting in early-stage deep tech startups participating in the NSF I-Corps program. Analyzing data from 230 teams, we found that 95% of teams adjusted at least one component of their business model, with 66% making notable changes involving four or more components. The most frequently altered components were value propositions and customer segments, suggesting the importance of achieving product-market fit. Our findings emphasize the dynamic and iterative nature of business model development in deep tech startups, as well as the important role of strategic adaptability in overcoming the challenges of market exploration and commercialization.",

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Strategic Pivoting in Deep Tech: An Investigation of NSF I-Corps Teams

Abstract

ASJC Scopus subject areas

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