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Initial Configurations and Business Models in New Technology-Based Firms

Purpose: This paper aims to analyse perceptions of initial configuration and business models in new technology-based firms (NTBFs). Based on our findings on this exploratory study we also aim to search for theoretical explanation of the observed behaviour and to give insights to support future development of quantitative measurements of initial business models. 
Design: The paper is empirically investigating initial configurations and business models of NTBFs in the first years of start-up, with data compiled from case studies of 8 Swedish NTBFs. Firms were selected based on Statistical Classification of Economic Activities in the European Community (NACE) codes considered high-tech and the year of founding. 
Findings: The study illustrate how founders structure their business activities in the start-up, and which components of the business model that they consider most important (e.g. identify value proposition and create relationship to customers). We could also recognise signs of isomorphic behaviour among the NTBFs, which suggest that institutional theory could be a fruitful area for future research on business models. 
Originality/value: The paper adds value to business model research by describing how NTBFs’ structure their initial business activities and which dimensions of the initially business model that are perceived as more crucial during the early years of NTBFs. Furthermore, we also contribute to future development of quantitative measurements of initial business models.