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The Effect of a Market Orientation, Entrepreneurial Orientation, and Technological Capability on Innovativeness: A Study of Young Biotechnology Ventures in the United States and in Scandinavia

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  • Maija Renko
  • Alan Carsrud
  • Malin Brännback

Abstract

Previous research suggests that in order to excel in innovativeness, a firm should simultaneously be market oriented, proactive, and willing to take risks, as well as have access to superior technological assets and capabilities. However, the contribution of these factors on innovative outcomes has seldom been assessed in one study. This study investigates influences of market orientation, entrepreneurial orientation, and technological capabilities on technology ventures' innovativeness. Data for this study were collected through personal interviews in biotechnology startups in the United States, Finland, and Sweden. As expected, results indicate a significant link between technological capability and product innovativeness. However, neither market orientation nor entrepreneurial orientation is related to product innovativeness in this empirical context where firms typically aim at launching radical, disruptive innovations. The drivers of capital investments, however, are different from the antecedents of product innovativeness. Differences between the Nordic and U.S.‐based biotechnology ventures are also identified.

Suggested Citation

  • Maija Renko & Alan Carsrud & Malin Brännback, 2009. "The Effect of a Market Orientation, Entrepreneurial Orientation, and Technological Capability on Innovativeness: A Study of Young Biotechnology Ventures in the United States and in Scandinavia," Journal of Small Business Management, Taylor & Francis Journals, vol. 47(3), pages 331-369, July.
    • Handle: RePEc:taf:ujbmxx:v:47:y:2009:i:3:p:331-369
    DOI: 10.1111/j.1540-627X.2009.00274.x
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    Cited by:

    1. Zibiao Li & Han Li & Siwei Wang, 2022. "How Multidimensional Digital Empowerment Affects Technology Innovation Performance: The Moderating Effect of Adaptability to Technology Embedding," Sustainability, MDPI, vol. 14(23), pages 1-27, November.
    2. Donggi Kim & Keuntae Cho, 2022. "Digital Transformation Characteristics of the Semiconductor Industry Ecosystem," Sustainability, MDPI, vol. 15(1), pages 1-19, December.
    3. Ehsan Fansuree Surin & Oswald Timothy Edward & Sayuthi Shaaran & Rohana Ngah, 2023. "Understanding Entrepreneurial Orientation based Research: A Proposed New Theoretical Framework," Information Management and Business Review, AMH International, vol. 15(3), pages 23-35.
    4. Chatterjee, Sheshadri & Chaudhuri, Ranjan & Kumar, Ajay & Gupta, Shivam & Sengupta, Pooja, 2023. "Rethinking of firm innovation capability: Examining the moderating role of leadership ability on a new business model," Technological Forecasting and Social Change, Elsevier, vol. 195(C).
    5. Krzysztof Borodako & Jadwiga Berbeka & Michał Rudnicki, 2021. "Innovation Orientation in Business Services," Books, Edward Elgar Publishing, number 19897.
    6. Chen, Xi & Zhang, Stephen X., 2024. "Too much of two good things: The curvilinear effects of self-efficacy and market validation in new ventures," Journal of Business Research, Elsevier, vol. 183(C).
    7. Dawit Tsegaye Sisay & Frans J. H. M. Verhees & Hans C. M. Trijp, 2023. "Market orientation practices of Ethiopian seed producer cooperatives," Palgrave Communications, Palgrave Macmillan, vol. 10(1), pages 1-14, December.
    8. Seoksoo Kim & Taekwan Ha, 2023. "Influential Variables and Causal Relations Impact on Innovative Performance and Sustainable Growth of SMEs in Aspect of Industry 4.0 and Digital Transformation," Sustainability, MDPI, vol. 15(9), pages 1-27, April.
    9. Shih-Kai Lin & Hung-Chang Chung, 2023. "The Relationship Between Entrepreneurial Orientation and Firm Performance From the perspective of MASEM: The Mediation Effect of Market Orientation and the Moderated Mediation Effect of Environmental ," SAGE Open, , vol. 13(4), pages 21582440231, December.
    10. Ali Anwar & Nicole Coviello & Maria Rouziou, 2023. "Weathering a Crisis: A Multi-Level Analysis of Resilience in Young Ventures," Entrepreneurship Theory and Practice, , vol. 47(3), pages 864-892, May.

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