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Coping with uncertainty: entrepreneurial sensemaking in regenerative medicine venturing

机译:应对不确定性:再生医学风险投资中的企业家意识

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Entrepreneurs face multiple sources and types of uncertainty during venturing activity. Converting novel or speculative opportunities into viable commercial businesses requires entrepreneurs to address or even leverage uncertainty. This process is especially relevant in nascent, knowledge-intensive fields, where success likely hinges on acquisition and deployment of unique, specialized knowledge resources. Venture development will be partly determined by the sensemaking strategies entrepreneurs employ to cope with irreducible uncertainty, especially as they seek critical collaborations. The regenerative medicine (RM) sector represents a unique context for studying entrepreneurial sensemaking under high levels of uncertainty. We consider how uncertainty in RM venturing affects entrepreneurial behavior. Informed by long-form narrative interviews, we propose a sensemaking model linking uncertainty, university culture, coping and narratives of venture potential in the RM field. This helps explain how participants in the RM sector cope with uncertainty and explore knowledge partnerships. Our findings advance theories of entrepreneurial sensemaking and the impact on nascent entrepreneurial ecosystems.
机译:企业家在冒险活动中面临多种来源和不确定性。将新颖的或投机性的机会转化为可行的商业业务需要企业家应对甚至利用不确定性。此过程在新生的知识密集型领域尤其重要,在该领域,成功可能取决于获取和部署独特的专业知识资源。风险投资的发展将部分由企业家用来应对不可减少的不确定性的决策策略决定,特别是在他们寻求关键合作时。再生医学(RM)部门代表了在高度不确定性下研究企业家意义的独特背景。我们考虑了风险投资风险的不确定性如何影响企业家行为。在长期的叙事性采访中,我们提出了一个感性模型,该模型将不确定性,大学文化,应对和RM领域中的风险潜力叙事联系起来。这有助于解释RM领域的参与者如何应对不确定性并探索知识伙伴关系。我们的发现推动了企业家感悟的理论及其对新生企业家生态系统的影响。

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