Turning Water into Wine?

Overview

This paper investigates the role of dynamic capabilities in early-stage capitalization, asking whether and how resource-constrained ventures can transform limited endowments into meaningful capital. The biblical metaphor captures the seemingly miraculous nature of early-stage resource creation.

Contribution to the Research Program

This is a foundational paper in the Resource Mobilization stream, establishing the question of how entrepreneurs create resources from scarcity that runs through subsequent work on crowdfunding, trade credit, and AI startup hype.