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Small Business Economics

Erschienen in:

26.06.2019

The relationship between origin and performance of innovative start-ups: the role of technological knowledge at founding

verfasst von: Tommaso Minola, Davide Hahn, Lucio Cassia

Erschienen in: Small Business Economics | Ausgabe 2/2021

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Abstract

According to the Knowledge Spillover Theory of Entrepreneurship (KSTE), the majority of innovative start-ups take advantage of the knowledge originated in incumbent firms or universities. However, little is known on how innovative start-ups’ heterogeneous originating contexts affect their performance differences at founding. To address this gap, we complement the KSTE with the resource-based view of the firm to hypothesize how the origin of innovative start-ups affects their initial technological knowledge and, in turn, performance at founding. We test the model using a sample of 338 innovative start-ups. Our results show that innovative start-ups that originated from university report a performance advantage since, right from their origin, their technological knowledge displays a broad scope and higher levels of newness.

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More specifically, the innovative character of start-ups is identified by at least one of the following criteria: (i) at least 15% of the company’s expenses can be attributed to R&D activities, (ii) at least 1/3 of the total workforce are doctoral students, PhDs, or researchers, or, alternatively, 2/3 of the total workforce have a Master’s degree, and/or (iii) the start-up is the holder, depositary, or licensee of a registered patent (industrial property), or the owner and author of a registered software.

These include, among others, the possibility to remunerate workers and consultants through stock options, and the possibility to raise equity through crowdfunding portals, robust tax incentives for investors, and access to public guarantees on bank loans.

By Bureau van Dijk.

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Titel: The relationship between origin and performance of innovative start-ups: the role of technological knowledge at founding
verfasst von: Tommaso Minola
Davide Hahn
Lucio Cassia
Publikationsdatum: 26.06.2019
Verlag: Springer US
Erschienen in: Small Business Economics / Ausgabe 2/2021
Print ISSN: 0921-898X
Elektronische ISSN: 1573-0913
DOI: https://doi.org/10.1007/s11187-019-00189-y

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