Transforming entrepreneurial posture into a superior first product market position via dynamic capabilities and TMT prior start-up experience

First product commercialization is the first entrepreneurial act of new technology ventures. However, little is known about mechanisms that transform these firms' entrepreneurial posture into first product advantage. Building on the dynamic capability view of the firm, this study examines the role of capabilities exploitation (i.e., in the form of complementarity), top management team start-up experience, cross-functional collaboration and information and communication technology assets in driving entrepreneurial posture toward first product advantage. A multi-informant study of 137 B2B new technology ventures was undertaken. The results show that entrepreneurial posture can contribute to first product advantage indirectly by fostering R&D-marketing capability complementarity. Furthermore, our results indicate that the entrepreneurial posture - capabilities complementarity relationship is augmented when top management team possess prior start-up experience. Finally, our findings indicate that the benefits of R&D-marketing capability complementarity for first product advantage are contingent on the exploitation of cross-functional collaboration and ICT capabilities.