This article presents a conceptual framework for analyzing the role of information technology in the formation of high-impact entrepreneurship. Entrepreneurial decision-making is contextualized in the setting of competent teams, and where its role in economic growth is modelled as part of a minimum set of actors necessary for the generation of innovative output—so-called collaborative innovation blocs. By departing from a collective of actors, rather than the individual entrepreneur, transactions costs are shown to become central for understanding the antecedents and conditions for high-impact entrepreneurship as core strategic decisions are often based on asymmetric information and bounded rationality. Subsequently, this also implies a central role for information technology in facilitating the processes that precede high-impact entrepreneurship through its ability to bridge or reduce information asymmetries. Based on the presented framework, the development of information technology is hypothesized to particularly favor new entrepreneurs with growth ambitions, new firm entry, and high growth firms by accelerating the creation and allocation of knowledge.