In this qualitative study, the authors apply Callon’s sociology of translation to examine how new technology entrepreneurs enact material arguments that involve the first two moments of translation—problematization (defining a market problem) and interessement (defining a market and the firm’s relationship to it)—which in turn are represented in a claim, the value proposition. That emergent claim can then be represented and further changed during pitches. If accepted, it can then lead to the second two moments of translation: enrollment and mobilization. Drawing on written materials, observations, and interviews, we trace how these value propositions were iterated along three paths to better problematize and interesse, articulating a problem and market on which a business could plausibly be built. We conclude by discussing implications for understanding value propositions in entrepreneurship and, more broadly, using the sociology of translation to analyze emergent, material, consequential arguments.

K6015, a South Korean firm seeking to commercialize its magnet technology in the US market, entered a technology commercialization training program structured as a competition. Through this program, K6015 (and others in the program) used several genres to progressively interest different sets of stakeholders. To understand how K6015 applied these genres, we analyze this case study in terms of interessement, a concept from actor-network theory, and standing sets of transformations, a related concept from workplace writing studies in which enacting a set of genres entails a controlled, progressive transformation of arguments. We examine the entire competition process, using K6015 and three other competitors to illustrate this process and to examine rhetorical transformations responding to different criteria. In enacting these standing sets of transformations, K6015 and other competitors transformed their innovations into commercialized technologies–and transformed themselves from innovators into entrepreneurs. Finally, we discuss implications for understanding entrepreneurship rhetorically.