Radical strategic change in high technology new ventures: a natural event?

New venture strategy strongly affects its performance and is subject to many changes following the high levels of uncertainty as well as changes in business environment. In some cases incremental changes do not generate anticipated performance, and radical change in strategy occur. These quantum leaps, a phenomenon described in botany as punctuated equilibrium, contradict common incremental Darwinian model of new venture strategy formation. Punctuated Equilibrium was recognized in organizational behavior as well. Yet its mechanisms are still unclear. Inspired by recent explorations in botany, we explore the relationships and mechanisms initiating radical strategic change in high technology new ventures.