This research presents the summary findings on six case studies of successful, venture capital investments in new technology-based firms in four European countries. In all cases, the enterprises had been financed by specialist, early-stage, and technology-focused venture funds which had exited the investments at a significant economic return. The exceptional competence and track records of the founder managers, and their defensible product position in growing markets, each appeared to be a common feature across the individual case studies. The paper also questions the unitary nature of the entrepreneurial process, arguing for entrepreneurial resources to be seen as an eclectically sourced stock.
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