The Characteristics of Knowledge-Intensive Entrepreneurship in Greek High-Technology Sectors

The present paper focuses on the Greek knowledge-based firms. Assuming that Knowledge-Based Entrepreneurship (KBE) is a high-potential entrepreneurship, we study different factors which shape this type of entrepreneurship as it may represent a new source of development for the Greek economy. We are interested in the educational attainment of founders and employees, the main areas of expertise of founders, and the factors influencing the creation of new ventures. We also explore the sources of knowledge for the exploration of new business opportunities and the importance of networking in different firm operations. Therefore, this research focuses on both the founder and the founding team as well as on the overall operations of the firms. Analysis is based on a structured questionnaire circulated to a representative sample of new firms that have been established between 2000 and 2010 and belong to various high-technology sectors. The examined sectors have been classified into three groups: (1) high-technology manufacturing, (2) medium-high-technology manufacturing, and (3) high-technology knowledge-intensive services. To understand the exploitation differences on sources of knowledge and the networking among the founders, depending on their educational background, we performed analysis of variance. Finally, we explore how these characteristics affect the performance of firms which in turn can generate economic growth, especially in the crisis period. Regarding the KBE perspective in exploring innovativeness and growth of newly established Greek firms, we derive useful conclusions for both the management of firms as well as for the public policies to promote innovation and entrepreneurship in general.