In recent years, startups have become frontrunners of innovation. Large corporations today are trying to keep up with startups but are falling behind due to long bureaucratic processes. In order to keep up with the startups, corporations collaborate with startups through accelerator programs and acquisitions. The purpose of this study is to understand the decision making process corporations go through when they decide to interact with startups to reach their innovation goals. The study has used a qualitative research approach in the form of a multiple case study to look into the decision making process of larger corporations. Three corporations of various sizes have been interviewed with a total of 5 respondents. The gathered empirical data was analyzed through inter organizational relationships, open innovation and a conceptual framework.  The empirical data in this research displayed that companies use a mixture of strategies, including internal R&D, acquiring startups and corporate-startup collaborations, to reach their innovation goals. These alternatives are evaluated based on factors such as financial gain, feasibility within the organization, and input from different stakeholders, including experts within the relevant fields. Companies are aware of the risks involved, but are willing to take in order to remain competitive, avoid losses and stay innovative. They furthermore tend to choose multiple alternatives to spread their chances for gaining innovative ideas, in order to avert loss and diminish sensitivity. Ultimately, the companies use startup collaborations to minimize losses when acquiring startups, to stay ahead of their competitors, and to help them remain innovative as they grow.

Startups need various resources to survive and scale, while large corporations have vast resources but search for innovations and take startups as a valuable source (Wymer and Regan, 2005). Corporate accelerators are an emerging trendy phenomenon that large organizations are adopting to collaborate with startups. Corporate accelerators take startups either from a specific industry or from all industries (Cohen and Hochberg, 2014), and achieve economic benefit either by financial returns or innovation integration (Deloitte, 2019). The types of partnerships between startups and large corporations can be classified into exploitation, exploration, or the hybrid. The exploitative partnership focus on utilizing existing capabilities from both parties, the explorative partnership aims at building new competitive advantages for involved companies, and the hybrid focus on both sides (Koza and Lewin, 2000). Therefore, the purpose of this study is to explore strategies for startups to select suitable corporate accelerators and partner with large organizations. This research used the explorative method and gathered knowledge from the literature review on startups, strategic partnership and corporate accelerator and thoughts from startups via semistructured qualitative interviews. The author compared the startups’ experience and outcome in different corporate accelerators. The findings show that early-stage startups need a framework to guide their process in building partnerships with large corporations. Also, corporate accelerators were found to be a good tool that brings startups with network, corporate resources, and future customers. Moreover, the key success factors in startup-corporation partnerships are trust, clear objectives, and partner compatibility. A partnership framework was developed to facilitate startups to build partnerships with large corporations through corporate accelerators. / Startups behöver olika resurser för att överleva och växa, medan stora företag har stora resurser men söker efter innovationer och ser startups som en värdefull källa (Wymer och Regan, 2005). Företagsacceleratorer är ett trendigt fenomen som stora organisationer använder för att samarbeta med startups. Företagens acceleratorer tar startups antingen från en specifik bransch eller från alla branscher (Cohen och Hochberg, 2014) och uppnår ekonomisk fördel antingen genom finansiell avkastning eller innovationsintegration (Deloitte, 2019). De typer av partnerskap mellan nystartade företag och stora företag kan klassificeras i exploatering, utforskning eller en hybrid. Det exploaterande partnerskapet fokuserar på att utnyttja befintliga kapaciteter från båda parter, det efterforskande partnerskapet syfte är att bygga nya konkurrensfördelar för involverade företag och hybridens fokus ligger på båda sidorna (Koza och Lewin, 2000). Därför är syftet med denna studie att utforska strategier för nystartade företag för att välja lämpliga företagsacceleratorer och samarbeta med stora organisationer. Utforskande metoden och samlade in kunskap från litteraturöversikt om startups, strategiska partnerskap och företagens acceleratorer och tankar från startups via semistrukturerade kvalitativa intervjuer. Författaren jämförde startups upplevelser och resultat i olika företagsacceleratorer. Resultaten visar att startups i tidigt skede behöver ett ramverk för att styra deras process för att skapa samarbeten med stora företag. Även företagens acceleratorer visade sig vara ett bra verktyg som ger startups nätverk, företagsresurser och framtida kunder. Vidare så är de viktigaste framgångsfaktorerna i partnerskap mellan startups förtroende, tydliga mål och parternas kompatibilitet. Ett ramverk för partnerskap utvecklades för att underlätta för startups att skapa samarbeten med stora företag genom företagsacceleratorer.

[ES] Las Startups de Base Tecnológica (SBT) son nuevas empresas emprendedoras lanzadas típicamente por un equipo con el propósito de llevar productos o servicios innovadores al mercado y lograr la escalabilidad de sus modelos de negocios. Hoy en día, se reconoce ampliamente que las SBT desempeñan un papel muy importante en la economía como fuente de innovaciones disruptivas y radicales y en la creación de nuevos empleos. Sin embargo, la mayoría de las TBS se enfrentan a retos significativos asociados con conflictos que surgen entre los miembros del equipo y con cambios en el entorno, aspectos que afectan a su rendimiento de innovación y supervivencia. De hecho, a pesar de la potencial novedad de sus productos y servicios, muchas SBT fracasan e incluso desaparecen y con ellas también sus innovaciones. En esta tesis proponemos el concepto de "Capacidades de Colaboración en Equipo" (CCE) referido a la interacción entre los miembros del equipo de una SBT como una condición organizativa esencial que permite la construcción de nuevas capacidades dinámicas estratégicas. En concreto, la tesis se centra en la relación entre CCE, capacidades operativas y resultados en innovación. Consideramos cuatro elementos como las dimensiones principales de las CCE, que comprenden: la confianza, la comunicación, la resolución de problemas y la eficacia del equipo. En primer lugar, la confianza del equipo, que les permite estar abiertos a compartir sus ideas, tener confianza y expresar sus sentimientos y comentarios constructivos. En segundo lugar, la comunicación, que consiste en fomentar el intercambio abierto de ideas e información que beneficien a los proyectos y a la organización. En tercer lugar, la resolución de problemas, que fomenta el establecimiento de protocolos para dar solución a los desacuerdos que puedan surgir a diario. En cuarto lugar, la eficacia del equipo para lograr los objetivos, resolver tareas difíciles a través del esfuerzo conjunto, gestionar problemas inesperados, ser competente y aumentar la autoeficacia para realizar las tareas y la gestión eficiente de los recursos. El estudio empírico se basa en una encuesta con el objetivo de identificar las CCE y sus relaciones con las capacidades operativas y los resultados en innovación de las SBT. Se obtuvieron 45 respuestas válidas de SBT, en su mayoría empresas que han participado en programas de aceleradoras como STARTUPV, EIT Climate KIC Valencia Accelerator Program y Fundación Repsol Entrepreneurs Fund, Social NEST y el Parque Científico de Madrid. La muestra incluye SBT con actividades centradas en el desarrollo de productos y servicios en una amplia gama de sectores, incluyendo medio ambiente, energías renovables, tecnologías limpias, transporte, consultoría, servicios de gestión industrial, arte, ocio y entretenimiento. Dadas las condiciones particulares de nuestra muestra y el tipo de datos recopilados a través de la encuesta, utilizamos la técnica de modelos de ecuaciones estructurales (SEM). Este método permite una estimación basada en componentes para el modelado de causa-efecto con variables latentes. El modelo ha sido estimado utilizando el software Smart PLS 3. Los hallazgos sugieren que el desarrollo de CCE en las SBT contribuye a la creación de nuevas capacidades operativas que resultan en mayores resultados en innovación. Asimismo, proponemos futuras líneas de investigación sobre el papel de las CCE en las colaboraciones externas. Por ejemplo, se podría estudiar la existencia de iniciativas públicas que tengan en cuenta las fases críticas del desarrollo de las SBT, como por ejemplo la promoción de la atracción de talento y el fomento de esquemas de compensación que lo retengan. Finalmente, se plantea estudiar la colaboración entre las SBT y otros agentes externos en proyectos de innovación abierta. Consideramos que estas colaboraciones favorecerían su supervivencia y competitividad. / [CA] Les Startups de Base Tecnològica (SBT) són noves empreses emprenedores llançades típicament per un equip amb el propòsit de portar productes o serveis innovadors al mercat i aconseguir l'escalabilitat dels seus models de negocis. Hui dia, es reconeix àmpliament que les *SBT exerceixen un paper molt important en l'economia com a font d'innovacions disruptivas i radicals i en la creació de noves ocupacions. No obstant això, la majoria de les *TBS s'enfronten a reptes significatius associats amb conflictes que sorgeixen entre els membres de l'equip i amb canvis en l'entorn, aspectes que afecten el seu rendiment d'innovació i supervivència. De fet, malgrat la potencial novetat dels seus productes i serveis, moltes SBT fracassen i fins i tot desapareixen i amb elles també les seues innovacions. En aquesta tesi proposem el concepte de "Capacitats de Col·laboració en Equip" (CCE) referit a la interacció entre els membres de l'equip d'una SBT com una condició organitzativa essencial que permet la construcció de noves capacitats dinàmiques estratègiques. En concret, la tesi se centra en la relació entre CCE, capacitats operatives i resultats en innovació. Considerem quatre elements com les dimensions principals de les CCE, que comprenen: la confiança, la comunicació, la resolució de problemes i l'eficàcia de l'equip. En primer lloc, la confiança de l'equip, que els permet estar oberts a compartir les seues idees, tindre confiança i expressar els seus sentiments i comentaris constructius. En segon lloc, la comunicació, que consisteix a fomentar l'intercanvi obert d'idees i informació que beneficien als projectes i a l'organització. En tercer lloc, la resolució de problemes, que fomenta l'establiment de protocols per a donar solució als desacords que puguen sorgir diàriament. En quart lloc, l'eficàcia de l'equip per a aconseguir els objectius, resoldre tasques difícils a través de l'esforç conjunt, gestionar problemes inesperats, ser competent i augmentar la autoeficacia per a fer les tasques i la gestió eficient dels recursos. L'estudi empíric es basa en una enquesta amb l'objectiu d'identificar les CCE i les seues relacions amb les capacitats operatives i els resultats en innovació de les SBT. Es van obtindre 45 respostes vàlides de SBT, en la seua majoria empreses que han participat en programes d'acceleradores com STARTUPV, EIT Climate KIC València Accelerator Program i Fundació Repsol Entrepreneurs Fund, Social NEST i el Parc Científic de Madrid. La mostra inclou SBT amb activitats centrades en el desenvolupament de productes i serveis en una àmplia gamma de sectors, incloent medi ambient, energies renovables, tecnologies netes, transport, consultoria, serveis de gestió industrial, art, oci i entreteniment. Donades les condicions particulars de la nostra mostra i el tipus de dades recopilades a través de l'enquesta, utilitzem la tècnica de models d'equacions estructurals (SEM). Aquest mètode permet una estimació basada en components per al modelatge de causa-efecte amb variables latents. El model ha sigut estimat utilitzant el programari Smart PLS 3. Les troballes suggereixen que el desenvolupament de CCE en les SBT contribueix a la creació de noves capacitats operatives que resulten en majors resultats en innovació. Així mateix, proposem futures línies d'investigació sobre el paper de les CCE en les col·laboracions externes. Per exemple, es podria estudiar l'existència d'iniciatives públiques que tinguen en compte les fases crítiques del desenvolupament de les SBT, com per exemple la promoció de l'atracció de talent i el foment d'esquemes de compensació que el retinguen. Finalment, es planteja estudiar la col·laboració entre les SBT i altres agents externs en projectes d'innovació oberta. Considerem que aquestes col·laboracions afavoririen la seua supervivència i competitivitat. / [EN] Technology-Based Startups (TBSs) are newly emerged entrepreneurial ventures typically launched by a team with the purpose of bringing innovative products or services to market and achieving the scalability of their business models. Today, it is widely recognized that TBSs play a very important role in the economy as a source of disruptive and radical innovations and creation of new jobs. However, most TBSs face significant challenges associated with conflicts among team members and with changes in the environment, which affect their innovation performance and survival. In fact, despite the potential novelty of their products and services, many TBSs fail and even disappear together with their innovations. In this thesis we propose the concept "Team Collaboration Capabilities" (TCCs) referred to the interaction among TBS team members as an essential organizational condition to allow the construction of new strategic dynamic capabilities. In particular, the thesis focuses on the relationships between TCCs, operational capabilities and innovation performance. We consider four elements as the main dimensions of TCCs: trust, communication, problem solving and team efficacy. Firstly, team trust, which allow team members to be open to sharing their ideas, be confident and expressing their feelings and constructive feed-back. Secondly, team communication that encourages open sharing of ideas about information that favors the commitment between members and benefit the projects and the organization. Thirdly, team problem-solving encouraging the establishment of protocols that give solutions to the disagreements that may arise in the daily basis. Fourthly, team efficacy in achieving teams' goals, solving difficult tasks through joint efforts, manage together unexpected problems, be competent and increase the self-efficacy to perform the tasks and the efficient management of resources. The empirical study is based on a survey of TBSs based in Spain, aimed to the analysis of TCCs and their relationships with the operational capabilities and the TBS innovation performance. We draw on 45 valid responses of TBSs. Most of the companies in our sample were participants in accelerator programs such as STARTUPV, EIT Climate KIC Valencia Accelerator Program, Fundación Repsol Entrepreneurs Fund, Social NEST and Scientific Park of Madrid. The sample covers TBSs with activities focused on the development of products and services in a wide range of sectors, including environment, renewable energies, clean technologies, transport, consulting, industrial management services, art, leisure and entertainment. Given the particular conditions of our sample and the type of data collected through the survey, we use structural equation modeling (SEM). This method allows a component-based estimation for cause-effect modeling with latent variables. The model has been estimated using Smart PLS 3 software. The findings suggest that the development of TCCs in TBSs contribute to building new operational capabilities that result in greater innovation performance. We also propose future lines of research for the role of TCCs in external collaborations. For example, to assess public initiatives that take into account the critical phases of TBSs development, the promotion of talent attraction and the furtherance of compensation schemes that retain it. Finally, it would be interesting to study the collaboration between the TBSs and other external agents in open innovation projects. We believe that these collaborations would favor their survival and competitiveness. / La investigación que condujo a los resultados de esta tesis doctoral fue financiada en su totalidad por mi beca para estudios en el extranjero otorgada en México por el Consejo Nacional de Ciencia y Tecnología (CONACyT). / Lopez Hernandez, AK. (2019). Team collaboration capabilities as drivers for innovation performance: The case of Spanish technology-based startups [Tesis doctoral]. Universitat Politècnica de València. https://doi.org/10.4995/Thesis/10251/121143

Master of Regional and Community Planning / Department of Landscape Architecture/Regional and Community Planning / John Keller / Innovative communities create cities rich in culture and opportunities to attract like minded residents and business owners to advance their city and their community. This study looks at the entrepreneurial startup community, Kansas City Startup Village (KCSV) and seeks to understand how social networks benefit entrepreneurs and how KCSV helps establish these networks. Through a review of similar startup communities and literature surrounding the topic, essential components within startup communities and characteristics of entrepreneurs were identified. To better understand the role of these elements within KCSV, ten entrepreneurs and members of support organizations of KCSV were interviewed regarding the social networks of the Village. The interviewing process utilized a grounded theory approach, with a text coding and analysis of the transcribed interviews to identify the role of entrepreneurs and social networks within KCSV. Findings were consistent with many of the topics discussed in the literature review and within the Comparative Communities section. Kansas City shares many common elements of the startup communities of Saint Louis, Missouri, and Boulder, Colorado; most notably the networking and social capital-building practices that keep entrepreneurs connected. The entrepreneurs possess traits that gave them an entrepreneurial advantage including formal education, past business experience, risk taking, and broad, forward thinking goals. Strong and weak ties were used in different scenarios and at different stages within their company’s lifecycle to assist with opportunity identification, resource acquisition and gaining legitimacy. KCSV was most influential in establishing the peer networks of entrepreneurs, which assist primarily with opportunity identification and resource acquisition.

Företag som arbetar med innovativa idéer och patent har traditionellt sett varit rädda att andra företag ska få ta del i vad de gör, med risk att deras teknologi och kunskap stjäls av konkurrenter. Denna syn, att företags innovationsprocess ska vara stängd för utomstående, har börjat ifrågasättas allt mer under de senaste åren. Allt fler företag går mot en mer öppen syn på innovationsprocessen och använder sig av vad som kallas öppen innovation. Genom en fallstudie på en startup i Sverige, ämnar denna studie undersöka hur öppen innovation hos en startup ser ut i praktiken, vilka risker och möjligheter det medför samt hur det skiljer sig gentemot forskning på mer etablerade små och medelstora företag. Det studerade företaget använder sig av flera dimensioner inom öppen innovation där sökandet av kunskap, återkoppling med kunder och köp av tjänster står för huvuddelen av öppenheten. Resultatet går i linje med tidigare forskning på mindre mer etablerade företag.

In this paper, I examine the role of CEO age in predicting the success of startup firms, as measured by social media exposure. I use a novel measure of early-stage growth defined by increased levels of social media and online traction. I hypothesize that the age of the company’s CEO will be negatively correlated with their social media scores while controlling for the company’s total funding amounts and employee counts. My data consists of 250 United States-based startup companies that were founded between 2011 and 2015. Furthermore, they are all relatively successful in that they are still operating and have received between $100 thousand and $10 million of funding. I find that the social media score of a company is negatively impacted by the age of their CEO.

No description available.

Esta pesquisa investigou como os modelos de negócios (MDNs) das empresas de e-commerce, atuantes no Brasil, foram modificados com a ação dos empreendedores nas fases de: concepção; início de operação e confirmação dos respectivos MDNs pelo mercado. Investigou, também, as razões que justicaram tais mudanças e suas contribuições para os desempenhos das empresas estudadas. Foi realizada uma pesquisa qualitativa, baseada no método de múltiplos casos, realizada junto à quinze empresas de e-commerce que adotam o modelo painel de controle e que atuam no mercado brasileiro. As entrevistas foram pessoais e orientadas por um roteiro de pesquisa. A apresentação dos dados dos casos e as análises qualitativas, extraídas dos depoimentos dos empresários, foram realizadas com base em uma Matriz de Análise Cruzada. A pesquisa revelou que os MDNs das empresas que haviam sido idealizados pelo empreendedor, na fase de concepção, sofreram mudanças dos tipos: estratégicas, mercadológicas, financeiras, tecnológicas e operacionais, as quais modificaram um ou mais dos submódulos do modelo, no sentido de introduzir ajustes na proposta/oferta de valor, no acervo de recursos, na base de fornecedores, nas redes de parceiros, nas formas de captura de valor (receitas), nas definições de segmentos de mercado e nos sistemas de gerenciamento e controle das operações. As razões destas mudanças, segundo os empreendedores, foram as necessidades de conquistar mercado para conseguir realizar vendas, atrair e ampliar a clientela. As mudanças realizadas pelos empreendedores, segundo eles, contribuíram positivamente, para gerar melhorias nos resultados de desempenho, ou seja, aumento da quantidade de clientes-usuários, clientes-fornecedores e crescimento do faturamento, conforme os índices utilizados.Os achados desta pesquisa foram: 1º) Nenhum dos MDNs idealizados pelos empreendedores estudados foi definitivo. 2º) O processo de construção do MDN só pode ser concluído depois que a empresa é submetida às condições de mercado, o que indica os ajustes e mudanças que serão necessárias neles. 3º) A confirmação do MDN, ou seja, quando ela gera resultados econômicos e atende às exigência de seus stakeholders, sempre é uma confirmação em caráter provisório. As limitações principais das conclusões são: a impossibilidade de generalização das conclusões para o universo de empresas de e-commerce atuantes no Brasil e utilizar informações de uma única fonte, que foram os depoimentos dos empreendedores ou dirigentes das empresas estudadas.A originalidade dos achados desta pesquisa contribuem para a teoria da construção de MDN em condições de mercado presente, revelando a ação do empreendedor na condução de diferentes fases do processo para a confirmação do modelo pelo mercado. Mostra as razões das mudanças incorporadas e suas contribuições para o desempenho da empresa. Para os empreendedores, os resultados da pesquisa servem como orientações para condução do processo, alertando para a necessidade de identificar as mudanças oriundas das necessidades dos clientes, da concorrência e de outros stakeholders. Em síntese, a pesquisa revelou que a construção dos MDNs, nos casos estudados, é um processo contínuo e sempre inacabado. / This research investigated how the business models (MDN) of e-commerce companies, active in Brazil, have been modified by the action of entrepreneurs in stages: conception; startup and confirmation of their MDN by the market. Also investigated the reasons justified such changes and their contributions to the performance of the companies studied. A qualitative research was made, based on the method of multiple cases performed by the fifteen companies of e-commerce that adopt the model panel of control and operating in the Brazilian market. The interviews were personal and guided by roadmap for research. The presentation of case data and qualitative analyzes extracted from the testimonies of businessmen, were made based on a Matrix Analysis Crusade. The research revealed that the MDNs of the companies that had been conceived by the entrepreneur, at the conception stage, passed for changes the types: strategic, marketing, financial, technological and operational, which changed one or more of the sub-modules of the model, in order to introduce adjustments in the proposal / offer value, the collection of resources, on the basis of suppliers, networks of partners, ways to capture value (revenue), the definitions of market segments and the management and control of operations systems. The reasons for these changes, according to entrepreneurs, were the needs to boost market to accomplish sales, attract and expand clientele. Changes made by entrepreneurs, according to them, contributed positively to generate improvements in performance results, in other words, increasing the amount of customers-users, customers-suppliers and revenue growth, as the indexes utilizados. Os findings of this research were: 1) None of the MDN conceived by entrepreneurs studied was final. 2) The process of building the MDN may be concluded only after the company is subject to market conditions, which indicates the adjustments and changes that will be required of them. 3) Confirmation of MDN, in other words, when it generates economic outcomes and meets the requirements of its stakeholders, it is always a confirmation provisionally. The main limitations of the conclusions are: the inability to generalize the findings to the universe of active e-commerce companies in Brazil and use information from a single source, that the statements were entrepreneurs or managers of companies studied. A originality of the findings of this research contributes to theory building MDN present market conditions, revealing the action of the entrepreneur to conduct different phases of the process to confirm the model by the market. Shows the ratios of incorporated changes and their contributions to the company\'s performance. For entrepreneurs, the survey results serve as guidelines for conducting the process, stressing the need to identify the changes originating from the needs of customers, competition and other stakeholders. In summary, the survey revealed that the construction of the MDN, in the cases studied, is an ongoing process and never finished.

Sweden has the goal to become net climate neutral by 2045. Due to its considerable environmental impact, the real estate and construction sector plays a crucial role in achieving this target. Given the time constraints and progress required, disruptive innovations to increase sustainability are needed. Startups are considered a promising source of such innovations because they are often less locked in by previous paths and existing structures. This study explores the conditions for the commercialization and implementation of sustainability innovations from startups in the Swedish real estate and construction sector. More specifically, it explores (1) the need for sustainability innovation perceived by actors around a startup and (2) the perceptions of the conditions for commercialization and implementation for such innovation. In-depth interviews were conducted with a startup as well as different groups of public and private organizations around it. Main findings are an increasing awareness of sustainability among all actors, albeit to a varying degree and based on different drivers. Main entry barriers for startups into the sector are the imbalanced distribution of risk and reward among actors in construction projects, skewing the responsibility for pushing sustainability innovation towards real estate firms and individuals and assigning sustainability champions a crucial role in connecting innovations and actors. Furthermore, the innovation system is not fit for the sector and the business case for sustainability is not sufficiently established yet. More long-term and system thinking is required in project set-up and policy making.

In the internet era,many small-and-medium enterprises begin to engage in e-commerce field.There have been many legends of internet in many contries for the last decade. Traditional enterprises set up their websites and step in the e-commerce continuously. They try to create new entrepreneurial stories. In the past, only large corporations have the capability to perform global business and operate twenty-four hours a day. Because of the sufficient manpower and financial resources, they are proactive in the marketing and customer service. However the internet technology and e-commerce have transformed the traditional business model. Nowadays, small or median enterprises.also can reach global customers and perform the transactions through the internet for twenty-four hours a day. This thesis is about the small and median enterprises to start the e-commerce by joining the H company that is an ISP vendor in Taiwan. This is a multiple cases research containing six internet companies. The research method is the grounded theory. After the interviews and associated data collection, we analyzed the data according to the three steps of grounded theory; they are open coding, axial coding, and selective coding. The internet venture can be described as three stages: starting a business idea, the start-up process, and the internet venture performance. For those internet startups with satisfactory performance, the research summarizes the following characteristics. The entrepreneurs well understand the web skills for internet transaction. Therefore, they pay much attention to the e-business procedures so that they are able to well maintain their websites,and make the best use of the websites to promote their merchandises and to conduct long-term customer¡¦s relationship.On the other hand,for those internet ventures with worse performances, the entrepreneurs usually know little about the e-commerce. They hardly participate their e-shops and have no time to manage their websites. Because they also have low expectation of the e-commerce, they don¡¦t learn the management tactics of inernet venture. For one extreme case, the entrepreneur has never done anything on his website. In this research, it is found that the internet venture performance is positively correlated with the expectation level. The type of merchandise is not the most critical factor to succeed an internet venture. Whenever the entrepreneurs have the higher understanding of the internet technology and the more participation to conduct the e-commerce activities, the performances are always better. Usually, for those startups with proactive entrepreneurs, they have higher possibilities to gain satisfactory financial performance.