New ventures in old industries: disrupting or embedding?

The chapter builds the case for a reconsideration of the concept of entrepreneurship and of innovation by new ventures to fit the current trans- formations of the car and mobility industries. Through a synthesis of the debate on the social embeddedness of entrepreneurship and the reconstruction of the history of Pagani Automobili – an Italian producer of high-end sportscars – the chapter calls for the adoption of a perspective that recognizes venture creation as the mobilization of extant resources and competences rather than as a process of disruptive entry. Ultimately, the chapter proffers a view of entrepreneurial change that is embedded in, and relies on the mobilization of, the history of the industry. Such a view could guide the assessment of the potential of emerging ventures in the car and mobility industry as well as policy and industry initiatives to answer the enduring uncertainty affecting firms and clusters.