International new ventures: rapid internationalization across different industry contexts

Abstract

Purpose – The purpose of this article is to, first, offer insights into the relationship between industry idiosyncrasies and international new ventures (INVs), and then present a research conceptual framework that identifies the role of industry factors in new venture internationalization processes and strategies. Second, the authors introduce the content of this special issue. Design/methodology/approach – This conceptual article builds on extant studies on INVs operating in different industrial contexts. Particular attention is given to the role of industry influences in the processes of new venture internationalization, in terms of speed, geographical scope and entry strategy. Such factors are discussed to formulate a conceptual framework as a basis for further research. Findings – The conceptual framework identifies key industry factors as well as emergent factors that influence the new venture internationalization process, in terms of speed, geographical scope and entry strategy. Such key influencing factors are competition and structure, industry life cycle, industry concentration, knowledge intensity, local cluster internationalization and global industry integration. Emergent factors are identified as new business models, technology and industry network dynamics. Research limitations/implications – This article is conceptual in nature, and thus empirical research is recommended in diverse contexts. Practical implications – Further analysis of industry factors is a valid research avenue for understanding INVs. Originality/value – This special issue offers new insights into how industry factors influence INVs’ internationalization processes in terms of speed, scope and entry strategy.