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The internationalization challenge - Enabling and constraining factors in the medical-technology sector
Laurell, Hélène, Achtenhagen, Leona, Andersson, Svante
Conference paper (Refereegranskat)
SMEs in high-technology industries, such as life-sciences, face a fundamental challenge. On theone hand, high product development costs push companies into early internationalization to increaseturnover and recover investments. On the other hand, internationalization is constrained, e.g. by financialand managerial resource limitations or the demand to follow local regulations. To date, little isknown about how high-tech SMEs actually manage this challenge. This paper presents an in-depthcase study of the internationalization process of a Swedish high-tech SME, to develop a better understandingof how the trade-offs related to internationalization are handled in practice. Combining insightsfrom the process theory of internationalization with international new venture theory, our findingsoutline factors affecting the internationalization process specific to the medical-technology industry,the company and the founding team.
Key words: Internationalization; Medical Technology; Born Globals; Networks; Strategic Entrepreneurship