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New, technology--based firms as agents of technological rejuvenation

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  • Autio Erkko
  • Yli--Renko Helena

Abstract

In this paper the catalysing impact of new, technology--based firms in industrial technolog--ical renewal is analysed. New, technology--based firms are studied from the resource--based perspective, as concentrations of technological competencies that operate in industrial networks. The empirical database contains information on nearly 400 Finnish new, technology--based firms. The empirical evidence suggests that new, technology--based firms tend to operate in envir--onments where the notions of the resource--based perspective are of high relevance, striving to generate economic profit through the innovative combination of their knowledge resources with those provided by their operating environment. The technology links and value--creation mechanisms depicted by the sample firms are in line with the Pavitt taxonomy, and help to understand why the bulk of the population of new, technology--based firms are not growth oriented. This paper argues that new, technology--based firms can catalyse economic growth without growing themselves, by contributing to the dynamism of regional innovation systems.

Suggested Citation

  • Autio Erkko & Yli--Renko Helena, 1998. "New, technology--based firms as agents of technological rejuvenation," Entrepreneurship & Regional Development, Taylor & Francis Journals, vol. 10(1), pages 71-92, January.
    • Handle: RePEc:taf:entreg:v:10:y:1998:i:1:p:71-92
    DOI: 10.1080/08985629800000005
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    References listed on IDEAS

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    1. Erik Brynjolfsson, 1994. "Information Assets, Technology and Organization," Management Science, INFORMS, vol. 40(12), pages 1645-1662, December.
    2. Pavitt, Keith, 1984. "Sectoral patterns of technical change: Towards a taxonomy and a theory," Research Policy, Elsevier, vol. 13(6), pages 343-373, December.
    3. Lee, Jangwoo, 1995. "Small firms' innovation in two technological settings," Research Policy, Elsevier, vol. 24(3), pages 391-401, May.
    4. Christensen, Jens Froslev, 1995. "Asset profiles for technological innovation," Research Policy, Elsevier, vol. 24(5), pages 727-745, September.
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    1. Alain Thierstein & Beate Willhelm, 2001. "Incubator, technology, and innovation centres in Switzerland: features and policy implications," Entrepreneurship & Regional Development, Taylor & Francis Journals, vol. 13(4), pages 315-331, October.
    2. Simplice A. Asongu & Mushfiqur Rahman & Joseph Nnanna & Mohamed Haffar, 2020. "Enhancing Information Technology for Value Added Across Economic Sectors in Sub-Saharan Africa," Research Africa Network Working Papers 20/064, Research Africa Network (RAN).
    3. Fiedler, Marina & Welpe, Isabell M., 2010. "Antecedents of cooperative commercialisation strategies of nanotechnology firms," Research Policy, Elsevier, vol. 39(3), pages 400-410, April.
    4. Yli-Renko, Helena & Sapienza, Harry J. & Hay, Michael, 2001. "The role of contractual governance flexibility in realizing the outcomes of key customer relationships," Journal of Business Venturing, Elsevier, vol. 16(6), pages 529-555, November.
    5. Asongu, Simplice A. & Rahman, Mushfiqur & Nnanna, Joseph & Haffar, Mohamed, 2020. "Enhancing information technology for value added across economic sectors in Sub-Saharan Africa✰," Technological Forecasting and Social Change, Elsevier, vol. 161(C).
    6. M. Knockaert & T. Vanacker, 2011. "The Association between Venture Capitalists’ Selection and Value Adding Behavior: Evidence from Early Stage High Tech Venture Capitalists," Working Papers of Faculty of Economics and Business Administration, Ghent University, Belgium 11/741, Ghent University, Faculty of Economics and Business Administration.

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