Effectuation and the influence of social networks on the internationalization of accelerated startups Carolaine Fabricia Bonk Sarmento 1 , Carlos Augusto Septimio de Carvalho and Luis Antonio da Rocha Dib Federal University of Rio de Janeiro – UFRJ, Rio de Janeiro, RJ, Brazil. ARTICLE DETAILS ABSTRACT Article history: Received 29 June 2015 Accepted 3 February 2016 Available online in 30 April 2016 Double Blind Review System Scientific Editors Eduardo Eugênio Spers Accelerators recently became a more active alternative to incubators as a mechanism for supporting and developing technology-based startups, especially in their internationalization. At the same time, social networks enable and increase the speed of the process of small firms' internationalization by allowing the attainment of third-party resources and market knowledge. The objective of this research was to better understand how accelerators speed up the process of internationalization for incubated startups. A single case study was conducted on an internet startup. Analysis of the company's internationalization process was based on the theoretical approach of international entrepreneurship and effectuation theory. The results indicated that the startup benefited from resources and knowledge obtained through accelerators that would usually be obtained through a social network. In addition to the accelerator, by replacing informal social networks with more formal and structured ones, the firm was able to increase the speed of internationalization. The main contribution of this article is to illuminate and detail the connection between the theoretical principles of effectuation and the use of social networks in the internationalization of small firms. © 2016 Internext | ESPM. All rights reserved! Keywords: International entrepreneurship Social networks Effectuation Accelerators Music industry 1. Introduction In a globalized economic environment, the rapid internationalization of a small emerging business (a startup) is considered fundamental to the innovative development of a country (Sebrae, 2006). For example, Apex-Brasil has contributed to the increase in speed of Brazilian startups' internationalization through market research and participation support in events and international fairs (Apex-Brasil, 2015). The recognition of the high mortality rate of small businesses that can reach 60% in the first four years of life (Sebrae, 2004) has led to the creation of entities to support the growth of startups such as accelerators and incubators (Anprotec, 2012). The growth and development of accelerators has also been supported by the federal government through state incentive programs such as the program START- UP BRAZIL (Brasil, 2014), as well as by multinationals such as Microsoft, who have created their own accelerator in search of more opportunities for 1 Corresponding author: Email: carolbonk@gmail.com innovation (Microsoft Venture, 2014). In terms of the number of accelerators, from 2011 to 2014 nearly 40 were created in Brazil (Aguilhar, 2014). Worldwide, estimates range from 300 to 2000 accelerators operating on every continent (Cohen & Hochberg, 2014). The literature on company internationalization already has an extensive body of studies on international entrepreneurship (Jones, Coviello & Tang, 2011), which is especially dedicated to rapid small-firm internationalization, also known as new international ventures or born globals (Oviatt & Mcdougall, 1994). Within this literature, social networks are recognized as being crucial for rapid internationalization of born globals because they greatly influence this process (Oviatt & Mcdougall, 2005), especially when it comes to obtaining resources (Coviello & Cox, 2006) and knowledge of international markets (Bell et al., 2003). Additionally, effectuation theory presents principles of cognitive Review of International Business São Paulo, v.11, n. 1, p. 63-73, jan./apr. 2016 | e-ISSN: 1980-4865 | http://internext.espm.br © 2016 Internext | ESPM. All rights reserved! DOI: 10.18568/1980-4865.11163-76