Compared to large established firms, technology-based new firms (TBNF) seem well placed to produce breakthrough innovations although questions remain as to their adeptness at subsequent exploitation. Building on the innovation and strategy literatures, the study identifies two different...

New entrants very often spin out from established firms and because they set on a course at founding, their learning and capabilities become inextricably linked to their organizational and technological heritage. But while this heritage may provide an initial advantage, it can also generate...