Interdisciplinary Heterogeneity as a Catalyst for Product Innovativeness of Entrepreneurial Teams

Abstract

Although more and more ventures are successfully founded by entrepreneurial teams, the specific benefits of the team‐based founding approach have received little attention in extant empirical studies. This study explores the relationship between the level of interdisciplinary heterogeneity in entrepreneurial teams and the level of product innovativeness in high‐tech ventures. It is proposed that an interdisciplinary new venture team composition impacts the quality of the strategic planning process (scanning activities, planning openness) and thereby indirectly shapes product innovativeness. The hypotheses are investigated using data from a sample of Canadian high‐tech ventures. The findings provide support for the proposed relationship between team heterogeneity, strategic planning and product innovativeness. Venture capitalists, university faculty and incubator institutions are therefore well advised to direct their attention towards fostering a heterogeneous composition of founding teams.