We examine the impact of high commitment work systems (HCWS) on high-technology start-ups. We differentiate two components of a HCWS: the human resource practices and the espoused values of the firm's leadership and demonstrate that both are associated with an increased likelihood of IPO and a decreased likelihood of firm failure. Importantly, there are interactions between practices and values such that the benefit of one tends to amplify the other. Implications of these interactions for future research on high commitment work systems are discussed.