Translating knowledge in new entrepreneurial ventures: the role of business plan development

Purpose: The paper aims at analysing the role of business plan development as a knowledge translation tool, especially for the creation of start-ups. In a complex knowledge ecosystem populated by multiple diverse and autonomous actors (like potential entrepreneurs, local companies, local public entities, and business consultants) bonded together by a joint search for valuable knowledge, business plan development can work as a powerful enabler for the translation of knowledge. Design/methodology/approach: The study employs a qualitative multi-case study approach by examining the results of a public program devoted to the creation of new entrepreneurial ventures. We analysed 418 complete business plans and followed up all the participants with an interview. 40 cases were investigated more in detail. Findings: Results show how business plan development can function as a bridge between academic, theoretical and general knowledge on start-up creation on the one hand, and practical contextualised activities of potential entrepreneurs on the other. Originality/Value: The paper contributes to knowledge management and knowledge translation literature by demonstrating the role of business plan development as an effective knowledge translation enabler. It also adds to the understanding of innovation management and entrepreneurial education by proving the relevance of the translation of knowledge for the creation of new business ventures. Practical implications: The process of knowledge translation is crucial to ensure that relevant knowledge coming from both the inside (the entrepreneur) and outside (the stakeholders) of the organization is effectively applied. To facilitate the translation process, key knowledge users should be supported in contextualising and making sense of the research knowledge. Initiatives carried out by local entities and other actors, gathering several stakeholders to develop business plans, can become valuable opportunities to facilitate the translation process for start-up development.