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Innovation-Driven Entrepreneurship

Author

Listed:
  • Tristan L. Botelho
  • Daniel Fehder
  • Yael Hochberg

Abstract

Entrepreneurship is thought to be a key driver of economic growth. While there are myriad forms of entrepreneurship, ranging from self-employment to small and medium size enterprises to technology- and innovation-driven startups, recent research provides evidence that the relationship between entrepreneurship and economic growth is driven not by overall quantity of new firm entry, but rather by a small subset of high-growth startups that are primarily categorized as innovation-driven. This paper provides a survey of the growing literature on the economics of such innovation-driven entrepreneurship. We begin by distinguishing between the various forms of entrepreneurship, which are often confounded in both theory and empirical work. We lay out the current state of knowledge, and describe the challenges faced by researchers in the field, particularly around measurement, data and identification. We conclude with an overview of the major open questions and directions for future research in the area.

Suggested Citation

  • Tristan L. Botelho & Daniel Fehder & Yael Hochberg, 2021. "Innovation-Driven Entrepreneurship," NBER Working Papers 28990, National Bureau of Economic Research, Inc.
    • Handle: RePEc:nbr:nberwo:28990
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    Cited by:

    1. Barrios, John M. & Hochberg, Yael V. & Yi, Hanyi, 2022. "Launching with a parachute: The gig economy and new business formation," Journal of Financial Economics, Elsevier, vol. 144(1), pages 22-43.
    2. Kilström, Matilda & Roth, Paula, 2024. "Risk-sharing and entrepreneurship," Journal of Comparative Economics, Elsevier, vol. 52(1), pages 341-360.
    3. Mihaly Szoboszlai & Timea Varnai & Aron Szakaly, 2024. "Differences between Hungarian Innovation-Driven and Innovative Enterprises Based on Primary Research," Financial and Economic Review, Magyar Nemzeti Bank (Central Bank of Hungary), vol. 23(2), pages 83-104.

    More about this item

    JEL classification:

    • O0 - Economic Development, Innovation, Technological Change, and Growth - - General
    • O3 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights

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