Founder influence on the internationalization performance of international new ventures: A comparative study of Australian and European fintech companies

We examine how founder characteristics influence the internationalization performance of international new ventures (INVs) in the Australian and European financial technology (fintech) industry. Using exploratory qualitative analysis of financial, archival, and social media data across six fintech INVs, we take a dynamic capabilities view to understand how founders sense, seize, and transform international opportunities. We reveal that opportunity sensing relies on founder knowledge and experience, but knowledge gaps can be compensated for effectively through strategic network activation. Networks are critical for seizing opportunities by providing access to expertise, funding, and market validation. The speed and scope of internationalization are driven by founder traits, particularly entrepreneurial orientation and growth mindset, with global mindset seemingly less essential than previously assumed. We find significant contextual differences: Australian founders face greater institutional constraints in accessing venture capital than their European counterparts. These findings extend the dynamic capabilities framework by identifying founders as key microfoundations, and challenge existing assumptions about the primacy of global mindset in early internationalization. The research contributes a framework linking individual founder characteristics to organizational capabilities in digitally-enabled international expansion.