THE ELIXIR (OR BURDEN) OF YOUTH? EXPLORING DIFFERENCES IN INNOVATION BETWEEN START-UPS AND ESTABLISHED FIRMS.

By Paola Criscuolo, Nicos Nicolaou, Ammon J. Salter. 2008

158 citations recorded by the source corpus.

Despite the widely acknowledged role of start-ups in economic development, little is known about their innovative activities compared with those of established firms. Drawing on a sample of 12,209 UK firms, we differentiate between services and manufacturing firms and, using a matching estimator approach, demonstrate that start-ups differ significantly from established firms in their innovation activities. We find that in services, being a start-up increases the likelihood of product innovations. However, in manufacturing, we find no significant differences in the likelihood of product innovation between start-ups and established firms. When examining the returns to innovation, we find that start-ups have a significant advantage both in services and in manufacturing. We explore the implications of these results for theory and policy.

Subfields: Accounting, Economics and Econometrics, Management of Technology and Innovation

View Paper: https://www.semanticscholar.org/paper/880d92a1e4f61afb77efc825e3a899e88d1003f6

How researchers see this paper

The researchers whose trusted networks rank it highest, strongest advocate first. Every researcher gets a different order.

In Accounting

1. Andy Neely
2. Francesco Rentocchini
3. Riccardo Leoncini
4. Sandro Montresor
5. Ugo Rizzo
6. Alberto Marzucchi

In Economics and Econometrics

1. Sandro Montresor
2. Andy Neely
3. Francesco Rentocchini
4. Riccardo Leoncini
5. Ugo Rizzo
6. Alberto Marzucchi

In Management of Technology and Innovation

1. Andy Neely
2. Francesco Rentocchini
3. Riccardo Leoncini
4. Sandro Montresor
5. Ugo Rizzo
6. Alberto Marzucchi

Citations in the corpus

• Capturing value from big data – a taxonomy of data-driven business models used by start-up firms (2016, background): “New technologies and innovations are often commercialised through start-up companies (Criscuolo et al., 2012).”
• ‘Better late than never’: the interplay between green technology and age for firm growth (2017, background): “…said, older firms may be better equipped to evaluate the uncertainty/risk and the actual marketability of their eco-innovations, irrespective of their likely disadvantages in terms of organisational inertia and learning impediments (Majumdar 1997; Sorensen and Stuart 2000; Criscuolo et al. 2012).”