This article explores the role of project management in the product development of new technology-based firms (NTBFs). For this qualitative study, we conducted a series of semi-structured in-depth interviews with 36 NTBFs. Consequently, we discovered a set of practices that are applied in the new product development (NPD) process and, based on entrepreneurs’ perceptions, link them to the success dimensions of NTBFs. Our findings indicate that entrepreneurs apply Lean startup and agile approaches to project management to a large extent. Moreover, we identify key contingencies for approach selection and propose a framework for NPD in an entrepreneurial context. The study contributes to the literature by integrating project management, new product development, and entrepreneurial perspectives.
The capability‐enhancing role of government‐driven industrial districts for new technology‐based firms in South Korea
