Implications for practice
This chapter outlines ways in which new ventures may partner effectively with multinationals. It describes partnering strategies and suggests how smaller firms can overcome some of the obstacles inherent in partnering with multinationals. Entering international markets typically entails building and leveraging network relationships, because new ventures rarely have the wherewithal to internationalize exclusively on the basis of their own resources. Thus, of all the special capabilities of new ventures to globalize, arguably the most important is that of building and leveraging network relationships. Interpersonal relationships with, for instance, mentors and former classmates, are likely to be particularly helpful in generating international business opportunities at the early stages of the new venture's internationalization. Relationships are widely recognized as key to new ventures' growth and success both in general and specifically in relation to internationalization. For longer-term success, new ventures will have to go beyond their comfort zone to build new types of relationships.