Does the innovator role affect the perceived potential for growth? Analysis of four types of new, technology-based firms

The present study analyzes interrelationships between systemic determinants, such as the technology applied by the firm, and the evolution of the firm. Four innovator roles of new, technology-based firms are analyzed: application innovators, market innovators, technology innovators and paradigm innovators. The analysis of an empirical sample of 392 new, technology-based firms in Finland finds that application innovators and technology innovators are the oldest and largest among these four groups of firms. On the other hand, the largest potential for growth can be found among market innovators and paradigm innovators. The analysis also suggests that the contentions of the market-based approach to research on new, technology-based firms apply particularly well to application innovators and to market innovators. On the other hand, the contentions of a systemic approach to research on new, technology-based firms may be better suited to paradigm innovators and to technology innovators.