The effect of a market orientation, entrepreneurial orientation, and technological capability on innovativeness: A study of young biotechnology ventures in the United States and in Scandinavia

Maija Renko, Alan Carsrud, Malin Brännback

Research output: Contribution to journalArticleScientificpeer-review

146 Citations (Scopus)

Abstract

Previous research suggests that in order to excel in innovativeness, a firm should simultaneously be market oriented, proactive, and willing to take risks, as well as have access to superior technological assets and capabilities. However, the contribution of these factors on innovative outcomes has seldom been assessed in one study. This study investigates influences of market orientation, entrepreneurial orientation, and technological capabilities on technology ventures' innovativeness. Data for this study were collected through personal interviews in biotechnology startups in the United States, Finland, and Sweden. As expected, results indicate a significant link between technological capability and product innovativeness. However, neither market orientation nor entrepreneurial orientation is related to product innovativeness in this empirical context where firms typically aim at launching radical, disruptive innovations. The drivers of capital investments, however, are different from the antecedents of product innovativeness. Differences between the Nordic and U.S.-based biotechnology ventures are also identified. © 2009 International Council for Small Business.
Original languageEnglish
Pages (from-to)331-369
Number of pages39
JournalJournal of Small Business Management
Volume47
Issue number3
DOIs
Publication statusPublished - Jul 2009
MoE publication typeA1 Journal article-refereed

Keywords

  • entrepreneurship
  • innovations
  • Technology orientation
  • Market orientation
  • Entrepreneurial orientation

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