International Before Commercial: Investigating the Pre-Commercial Phase of International New Ventures
In this study we focus newly established companies within the wave and tidal energy industry. Companies in this industry have not yet reached the phase of commercial production and sales. Our study investigates presents three case companies, analyzing their development pattern and how they access resources through international activities in the pre-commercial phase. The results reveal extensive international activities, were the companies seek for and exploits resources from a variety of countries even the early phases of their development. In fact, they are willing to establish large part of their activities in foreign countries (and even move their home base) to access resources. A key implication for managers is the need of balancing international use of resources and international access to resources. From the perspective of policy makers, the case study illustrate how countries and regions compete in order to attract the attention from and activity of firms in an emerging industry. These companies relocate activity across borders depending on the support framework offered. For researchers, the study demonstrates the need of focus on the international dimension of firm activity as early as in the pre-commercial phase.