A double-edged sword? Founder Teams' Prior International Experience and INV International Scale-up

We examine the effect of international new ventures’ (INVs) congenital knowledge inherited from their founding teams vs. their experiential knowledge gained through learning by doing on the initiation vs. continuation of their international growth. Data from 144 technology INVs show that the effect of congenital knowledge fades as experiential knowledge accrues over time and fuels sustained international growth. The relationships are moderated by whether founder teams’ work experience is in the same or a different industry as the INV as well as the level of external funding received by the INV. Our study and results contribute to the literature on INVs’ post-entry internationalization.