Top management influence on early internationalization strategy and their decision of moving location to startup ecosystems

The impact of the top management team in the early internationalization strategy has been largely studied in the literature since the 1980s and its influence is listed as one of the antecedents for the international new ventures phenomenon. Overall, the existing literature argues that the members of the top management team use their cognitive, social, behavioral and background influences acquired through their lives to define their company’s internationalization strategy. Aiming to understand why the top management team decide to start the internationalization earlier and within startup ecosystems, this study utilizes a case study methodology. Members of the top management team of two Portuguese international new ventures that decided to have their locations in prominent startup ecosystems since company’s inception were interviewed. This research findings show that top management team plays a relevant role in defining a company’s early internationalization process and in deciding whether to located it in a startup ecosystem. The results of this study indicate that the factors that support their decision are the following: increase access to funding, having access to better public policies and incentives for small business, and the proximity to the target markets. Additionally, it was perceived the relevance of the previous professional experiences of the top management team in the internationalization and location strategy design and execution.