Maija Renko is an assistant professor of management at the University of Illinois at Chicago.Alan Carsrud is the Loretta Rogers Chair in Entrepreneurship in the Ted Rogers School of Management at Ryerson University in Toronto, Canada.Malin Brännback is a professor of international business at Åbo Akademi University, a docent at Swedish School of Economics and Business Administration and a docent at Turku School of Economics in Finland.
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
Article first published online: 10 JUN 2009
© 2009 International Council for Small Business
Journal of Small Business Management
Volume 47, Issue 3, pages 331–369, July 2009
How to Cite
Renko, M., Carsrud, A. and Brännback, M. (2009), 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. Journal of Small Business Management, 47: 331–369. doi: 10.1111/j.1540-627X.2009.00274.x
- Issue published online: 10 JUN 2009
- Article first published online: 10 JUN 2009
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.