Erfolg und Misserfolg von Startup-Unternehmen im Blickwinkel der Pfadtheorie.

Despite the huge number of startups staying behind the growth and value expectations of the venture-capital investor, there is still no profound understanding and only very few research concerning the failure of high-technology startup-enterprises. So far research concentrates on single factors without developing a coherent theory of startup failure. Against this background, this article outlines an explanation of startup failure in a venture-capital portfolio in spotlight of the joined Competence-based Theory of the Firm and the Path-theory, in order to explain the complex causal chains of failure.