International New Ventures (INVs)—small and medium-sized enterprises (SMEs) that rapidly internationalize after inception—have garnered increasing scholarly attention. While extensive literature exists on the development and operations of INVs, limited research has explored the performance determinants of such firms in emerging Asian markets, particularly in Pakistan. This study addresses this gap by investigating the key economic and managerial characteristics influencing the performance of INVs in Sialkot’s surgical instruments industry. The research reveals that government efforts are primarily directed toward export facilitation rather than fostering comprehensive internationalization strategies. Moreover, firms tend to maintain limited network ties with governmental bodies, relying more heavily on customer and supplier relationships. The study further identifies that managerial international experience and strategic network utilization are critical to enhancing the international performance of these ventures. Empirical findings underscore the significance of foreign market experience and international business networks, along with conditional industry or governmental support, in bolstering INV performance. The study concludes with theoretical contributions, practical implications, and directions for future research.
Open Access