The government as an effectual stakeholder in the entrepreneurial co-creation of markets for emerging technologies: the case of Rocket Lab

Jonathan Van Mumford and Peter John Mumford

Chapter 7 in A Research Agenda for International Entrepreneurship, 2023, pp 165-194 from Edward Elgar Publishing

Abstract: This chapter examines co-creative international entrepreneurship leading to the creation of new markets and industries formed around emerging technologies through an in-depth exploration and contextualized explanation of the case of Rocket Lab and its engagement with the New Zealand government. Using the theoretical lens of effectuation, with the government/venture dyad as our unit of analysis, we examine how the government can play a key role in co-creation as an effectual stakeholder. Findings suggest governments intervene in the co-creation of new markets for emerging technologies based upon an assessment that such technologies will have a significant impact on national goals. Also relevant are value rational evaluations of the focal entrepreneurial firm’s connection to the home country. Proactive government engagement, by deploying resources such as international diplomacy and the enactment of legislation, may more rapidly transform effectuation processes into causal ones by reducing uncertainty - accelerating the emergence of new markets and industries.

Keywords: Business and Management; Economics and Finance (search for similar items in EconPapers)
Date: 2023
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