Following the resource-based view (Penrose, 1959), technological resources can be implemented to serve different markets, and thus technology ventures can engage in identifying and evaluating multiple market opportunities. This market choice is one of the most fundamental decisions in the creation of new technology ventures (Shane 2000, Abell, 1980; Geroski, 1998).

As firms may identify a choice set of market opportunities (Gruber, MacMillan & Thompson, 2008), they face a strategic tradeoff between focusing entrepreneurial attention, by pursuing one single opportunity, and maintaining flexibility, by pursuing several market opportunities simultaneously (Wernerfelt & Karnani, 1987; Gifford, 1992). This single-multiple tension in the context of new technology ventures is the focus of this study which aims to understand what influences the level of this ongoing tension and how is it confronted by technology entrepreneurs.