Human capital for successful exploration and exploitation in new ventures

The human capital of new ventures is considered particularity important as a potential source of sustained completive advantage. Although numerous studies have related the capabilities of the business founder or the founding team to the performance of new ventures, there are many conflicting findings, particularly in relation to the impact of education and experience of the entrepreneur on business performance. This study contrasts the human capital related to success in ventures involved in exploration and exploitation. Particular attention is paid to the technologists in the companies as the presence of ‘key scientists’ has been related to the performance of knowledge intensive firms in exploratory activities.