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Circular start-ups (CSUs) are gaining popularity to radically rethink the linear resource flows of global production systems and adopt ambitious approaches towards a circular economy from inception. For CSUs, the institutional environment is particularly relevant; this is because the complex nature of sustainability challenges requires a deep engagement with institutions to drive transitions from linear to circular practices. This article analyses how and why institutional factors influence CSUs in the highly entrepreneurial region of Catalonia in Spain. Based on a multiple case study, our findings demonstrate that CSUs are affected by informal institutions through founder motivations, their ability to create opportunities and social values. Formal institutions influence CSUs regarding the previous experience of founders, accessible ecosystem actors and supportive laws and regulations. These findings are important for effective policymaking to develop adequate support mechanisms and understand the particular challenges and opportunities CSUs face compared to traditional start-ups. [ABSTRACT FROM AUTHOR]

Purpose: This paper aims to elaborate on the crucial effects that a seemingly detrimental policy change in Spain has had on the international entrepreneurial activities of domestic renewable energy (RE) firms. Design/methodology/approach: Primary data were collected from nine RE companies in Spain and then triangulated with secondary data and interviews from informants in other local institutions. Findings: Domestic RE firms, due to an institutional scape driver action, reacted to an increasingly uncertain and generally more adverse renewable energy policy framework in this country by preferring to internationalise towards foreign markets that had lower political uncertainty than the domestic one. Research limitations/implications: This paper complements previous research primarily on firm-specific factors that enhance internationalising firms' survival and growth through a focus on the impact of a changing institutional-political environment at the home country-level. Practical implications: Practitioners in the RE sector should analyse the risk of focusing only on the home market, as it can be too dependent on uncontrolled variations in domestic energy policy. Social implications: The findings indicate that a more stable and supportive, long-term perspective in the domestic RE policy is essential for the sustained growth and development of this emerging industry. Originality/value: To analyse the strategy by which a number of purposefully selected companies were able to use international expansion as a survival-seeking strategy against a drastic policy-level change in the domestic RE market. [ABSTRACT FROM AUTHOR]

Purpose In this study, entrepreneurial internationalization in renewable energy industry as a high-tech and emerging industry was explored. The focus of this study is on firm level factors to understand how and why these companies entered the international markets and what are their challenges and difficulties in this process. To answer these questions, two main streams of literature were used: international entrepreneurship (IE) and sustainable entrepreneurship.Design/methodology/approach Case study methodology is selected for this research. Because this subject is new and empirical researches in renewable energy industry are scarce, a method to gather research and in-depth data was adopted. Following suggestions by Eisenhardt (1989), a multiple-case design method was used with nine cases of entrepreneurial companies in renewable energy industry from Spain.Findings Results show that in renewable energy industry firms, resources and capabilities such as need for funding and rapid commercialization are key factors that encourage companies to enter the international market. However, having access to the technological knowledge cannot be a compelling reason for internationalization of renewable energy companies from Spain. Moreover, the interaction between the large and small firms is an important factor that facilitates the process of internationalization.Research limitations/implications In this study, the focus was only on firm level factors, whereas other levels of analysis such as entrepreneur, environment, policy scheme and industrial factors need further attention in future studies. Moreover, this study is only limited to Spanish companies, and future studies can be replicated in other context.Practical implications Findings of the study have significant theoretical and empirical implications. First of all, it explains the entrepreneurial internationalization by taking advantage of sustainable entrepreneurship literature. In addition, empirical results of this study are significantly important for entrepreneurs to implement effective internationalization strategy to survive. Findings of this study can help policy makers for designing a supportive scheme for further development of this industry in the international markets.Originality/value This paper explores the entrepreneurial internationalization of renewable energy companies as an emerging industry by taking advantage of two streams of literature: international entrepreneurship and sustainable entrepreneurship. The results show the phenomenon of early internationalization in pre-commercialization phase. These findings put emphasis on interaction between large and small firms in process of internationalization in this specific industry. [ABSTRACT FROM AUTHOR]