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| Value Uncaptured and Business Model Innovation in Startups |
| Li Yongfa,Luo Ti |
| （School of Business Administration, Anhui University of Finance and Economics, Bengbu 233000, China） |
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Abstract Technology or business upgrades generate new value and amplify some of the previously uncaptured value. As an intermediary variable between technological innovation and business performance, business model innovation plays a very important role. Uncaptured value generated during technology or business upgrades and resource bricolage are two emerging issues for the growth of startups, and they are related to why and how to innovate in business models. Based on a single case indepth analysis of a startup, it is found that: (1) unrevealed mechanisms and driving factors of business model innovation;(2) business model innovation is not only a cognitive activity and process, but also a practical activity and process;(3) the business model structure conceals values uncaptured, but different values uncaptured require different bricolage behaviors. Finally, based on these findings, entrepreneurial companies are provided with countermeasures to identify value uncaptured, carry out bricolage activities, and innovate business models.
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Received: 15 March 2019
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