Abstract
The Valley of Death (VoD) reflects a series of challenges facing technology-based companies during their early development stages. Extant literature highlights the need for startups to equip themselves with the tools and resources to manage this turbulent transition. However, the existing frameworks propounded by fellow scholars and practitioners regarding VoD are fragmented, each covering only a few issues in the chasm. Thus, the current article proposes a new and comprehensive model for high technology-based startups. The new model emerged from an in-depth review of 128 scholarly materials and empirical data collected from 30 startups (from artificial intelligence, virtual and augmented realities, internet of things, medical, and cleantech industrial sectors). The model was piloted in three pre-startups. The model adds on the existing VoD frameworks to provide a holistic baseline for future research in this field by presenting different challenges underlying the pre-establishment years of a company while addressing courses of action needed to overcome this perilous transition.
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