International expansion of Canadian high technology start-up companies : an integrated theoretical model : an exploratory case study of Canadian HSF internationalization process

Purpose – This qualitative, case-based research investigates the internationalization and\ngrowth process of Canadian high-tech start-ups (HSFs). This research observes tensions\nbetween literature and entrepreneurial tendencies, explores relevant factors to the\ninternationalization process such as the entrepreneur’s characteristics, and proposes an\nintegrated theoretical model. This analysis will serve to identify practical implications\nand a future research agenda.\nDesign & Approach – Three research questions are posed to support the outlined\nobjective. An exploratory case study approach was chosen to observe the growth process\nof eight Canadian HSFs of varying size and stage. Data was collected through in-depth\ninterviews with founders, which was then used to establish a case narrative in the context\nof the proposed research questions and preform cross-case analysis.\nFindings – The Lean Start-up model best represents the Canadian HSF\ninternationalization process. The process differs to traditional MNEs, as key decisions\nsuch as entry mode are less relevant to HSFs. Instead, the process is dictated by the\nfounder’s ability to build their network and identify business opportunities through\ninformal relationships and utilize existing international knowledge and experience.\nResearch Limitations – This thesis is limited to the Canadian HSF industry. Certain\nconclusions may be applicable to other SMOPECs; however, they may not be\ngeneralizable to HSFs in alternate markets or industries. This research would benefit\nfrom the combination of both quantitative and qualitative research methods, and the\napplication of longitudinal analysis.\nPractical Implications – While several practical implications are identified throughout\nthis paper, three stand out in particular: 1) Founders primarily enter the U.S. as their\ninitial market and use Canada as their demo market to acquire knowledge. 2)\nEntrepreneurial competencies dictate the firm’s internationalization process; firms that\nlack knowledge of international markets should seek advisors with foreign knowledge\nearly in the process to identify opportunities. 3) Founders primarily use informal\n3\nnetworks to facilitate growth; connections through incubators and informal advisors\nenable knowledge acquisition.\nOriginality – There is no recent research observing Canadian HSF internationalization\nutilizing a case study approach. Previous research on this topic does not establish an\nintegrated theoretical framework or observe emerging research trends in detail such as\ninformal networks or entrepreneurial characteristics.\nContribution & Future Research – An integrated theoretical model is proposed along\nwith a comprehensive outline of the HSF internationalization process. Research questions\nare established with reference to relevant research agendas, exploring topics such as the\nknowledge acquisition process and the role of the entrepreneur in international growth. A\nresearch agenda outlines potential finance applications of the internationalisation process,\nparticularly the use of real options.

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