Entrepreneurial Founding Activities that Create Gazelles

Abstract

This paper outlines the results of a theory-building study into founding episode activities undertaken by independent entrepreneurs to create extremely high growth Australian firms, known as “gazelles”. Studies suggest gazelles are a rare but particularly important subset of all new firms created each year, contributing significantly to national economic and social development. The study revealed that entrepreneurs who created gazelles, pursued certain founding activities in different ways to entrepreneurs who created other types of growth firms. Findings of systematic differences in the way entrepreneurs appeared to create gazelles compared to other types of growth firms, may help build theory able to predict the birth of gazelles. Such a theory may assist investors improve their ability to identify major potential opportunities and help governments target support initiatives early on in the life of firms likely to use them to best effect.