New Venture Manifesto

This is an exploratory study on the characteristics of the agile methodology and its possible contribution to the success of new ventures within an entrepreneurial orientation. We explore this relationship by asking three research questions. First, what characteristics of the agile methodology can be adapted for entrepreneurs starting and managing new ventures? Second, how can the synthesis of the characteristics of the agile methodology and the core concepts of strategic management become a tool for new ventures to achieve success within an Entrepreneurial Orientation? Third, can the Agile Manifesto be adapted to the context of "new ventures"? This study answers these questions through a review of the literature and qualitative data collection from agile experts within the IT function and entrepreneurial professors. We have discovered that the agile characteristics of a lean mentality, acceptance of uncertainty, communication, team composition and iterative development can be adapted to assist entrepreneurs in operating successful new ventures within an entrepreneurial orientation. Also this produced New Venture Success Standards and a New Venture Manifesto in order to further support new ventures in their objective to become successful, sustainable enterprises. Through this study we see that the methodology of agile may not only be beneficial to the field of entrepreneurship, specifically to new ventures, but other business disciplines.