Abstract
Entrepreneurs of new technology ventures often seek advice and mentoring. However, research in knowledge management and cognitive psychology have suggested that the accumulation of advice might depend on the venture's absorptive capacity and the learning capabilities of the entrepreneur receiving advice. To date, this has been poorly studied in nascent technical ventures. Through a novel quantitative study of 105 nascent technology ventures associated with the National Science Foundation (NSF) Innovation Corps (“I-Corps”) Program, we found that in contrast to technology advice, business advice accelerates technology venture emergence, and this venture emergence is further enhanced by advice that complements rather than amplifies an entrepreneur’s prior experience. These findings offer important insights to the literature on entrepreneurial learning and advisors, and inform public policy and institutions supporting technology entrepreneurship.
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