This project aims at providing novel insights about how audience members heterogeneity influences the emergence and development of a novel market. We are particularly interested on how differences across audience members in regards to individual and collective characteristics impact entrepreneurial outcomes such as founding, product development, and business models innovations, as well as organizational dynamics such as learning and failure. The project looks at the Swiss beer industry and its tremendous amount of new entries and other entrepreneurial outcomes as well as remarkable dynamics, e.g. through the disbanding of brewers, over the last 10 years.