Purpose: The purpose of this paper is to evaluate the entrepreneurial behavior of managers of technology-based companies in specific stages of the business life cycle. Design/methodology: Structured questionnaire based on the entrepreneurial behavior characteristics was applied to the thirty-one managers of the technology-based companies mapped for the paper. The collected data were processed by the Hierarchical Process Analysis (AHP) technique in a multicriterial approach to measure the entrepreneurial behavior according stages of the business life cycle. Findings: The results of the paper show that the level of entrepreneurial behavior of managers follows the development of the company. Managers working in technology-based companies at later stages of the business life cycle showed more entrepreneurial characteristics. The results showed that the experience that the manager acquires as the company evolves influences his or her behavior and consequently the company's performance. Moreover, certain characteristics could be related to the particularities of each stage of the business life cycle. Originality/value: The results of this paper can provide managers with understanding of how entrepreneurial behaviors diversify according to the stage of the technology-based company. Since both entrepreneurial behavior and the stages of the business life cycle influence the performance of technology-based companies, the results provide important knowledge for managers to improve their businesses. These managers can use the contributions of the paper as a management practice throughout the stages of their existence, which may provide the adoption of more appropriate strategies, being a connection between the theory studied and the business practices
