Title: The development process of new technology-based firms

Authors: Ugo Rizzo; Francesco Nicolli; Laura Ramaciotti

Addresses: Department of Economics and Management, University of Ferrara, via Voltapaletto 11, 44121, Ferrara, Italy ' Department of Economics and Management, University of Ferrara, via Voltapaletto 11, 44121, Ferrara, Italy; CERIS-CNR, Institute for Economic Research on Firms and Growth, via Bassini 15, 20133, Milan, Italy ' Department of Economics and Management, University of Ferrara, via Voltapaletto 11, 44121, Ferrara, Italy

Abstract: This work investigates the paths of development of new technology-based firms (NTBFs). The existing literature on new venture development processes is largely built on a linear stages approach. Recent insights however, indicate that in order to better grasp the firms' development routes such linear models per se are no longer sufficient. This work investigates how firms evolve through time with respect to the main variables which literature highlight as strategic for the growth of firms. By clustering the firms in similar organisational configurations at constitution and some years after being on the market, the results highlight the complexity and variety of firm development processes. Our findings contribute to an understanding of the dynamics of the entrepreneurial process.

Keywords: new technology-based firms; NTBFs; entrepreneurship; cluster analysis; organisational development process; new venture development; entrepreneurial dynamics.

DOI: 10.1504/IJEIM.2013.059893

International Journal of Entrepreneurship and Innovation Management, 2013 Vol.17 No.4/5/6, pp.352 - 369

Received: 21 Feb 2013
Accepted: 30 Sep 2013
Published online: 30 Apr 2014 *

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