Changing with the time: New ventures’ quest for innovation
New ventures are often based on new ideas and innovation. For creating and improving the innovation new ventures can draw on internal and external resources, to which they often have limited access. Our study analyses how new ventures can improve their innovation search by entering collaborative workspaces, so-called co-working spaces. In our qualitative study, we use participative observation and analyze 8 cases of new ventures operating in a coworking-space. Key findings are that forms of innovation search differ with respect to the venture’s life cycle. The new ventures search focus alternates between internal and external search, depending on the current stage of the venture. In general, the co-location of ventures in collaborative workspaces offers rich opportunities for social interactions, information exchange, and collaboration which are especially important for early-stage ventures.
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