Initial configurations and business models in new technology-based firms. Journal of business models
Journal article, 2016
Purpose: The purpose of the paper is to analyse founders’ perceptions of initial configurations and business
models in new technology-based firms (NTBFs).
Design: Case studies were performed using semi-structured interviews and interactive techniques involving
open questions and activity cards to capture perceptions of activities that form the firms’ business
Findings: The Business Model template, commonly referred to as the Business Model Canvas, is frequently
used among these companies and seemed to have shaped the business model discourse in our case
companies. Our findings also indicate that founders of NTBFs perceive their customer value proposition as
the most valuable element of their business model. We also recognized signs of the influence of financial
partners on the founders’ perceptions of the initial business models. Furthermore, findings show that
some NTBFs create parallel business models within their firms to ensure survival in the start-up phase.
Originality / Value: The paper adds value to business model research by describing how NTBFs’ structure
their initial business activities and the elements of their initial business models perceived to be as more
crucial during the early years as well as how these perceptions change.
New Technology-based Firms