Assessing new venture technological viability

Perhaps the most fundamental issue that must be addressed when assessing ventures at the seed stage is technological viability. This is a complex, multi-dimensional concept and the authors focus on technological synergy and the venture knowledge base. They operationalize the concept of absorptive capacity by examining the distribution of knowledge within the venture. This leads to the concept of knowledge vulnerability, defined as the tolerance for removal of knowledge resources. Awareness of areas of high knowledge vulnerability can be very important, especially in the early stages of the venture. To illustrate the assessment framework being developed, the authors consider a greatly simplified example of a seed stage venture. They begin by examining the required competencies of the venture through the development of a competency map