A tale of two ventures: How founder experiences shape search in tech-anchored and market-anchored ventures

This article distinguishes two types of technology ventures: market anchored and technology anchored. These ventures need to conduct effective technological or market search, the identification and evaluation of alternative technologies or markets, respectively, and form a viable technology–market combination. These types of search are fostered by appropriate experiences of the founding team. A study of 203 new technology ventures shows contrasting effects of breadth and depth of the founding team’s market and technological experiences on the initial success of the venture types.