Factors Affecting Innovation in Technology Based Small Firms

The PhD focus is derived from recent studies into innovation in new technology ventures. The research highlighted that competitive advantage requires “meaningful product uniqueness” which involves market and product innovation factors. The performance of new entrants is based on a conceptual framework (Suzuki et al, 2002) for the entrepreneurial process developed recently (for a comparative study between start-up companies in Japan and Silicon Valley). This conceptual framework recognises the perceived growth factors that encompass the theories of the firm (including resources, competences and the environment). The PhD research will use a small sample of new technology ventures to provide insights into key aspects of the level of product innovation and the performance of new entrants. The results of this inital survey will be analysed against the literature and will form the basis for deriving a questionnaire for a larger survey with two main aims: 1. To establish the correlation between the level of product innovation and the competitive performance of new UK technology ventures 2. To develop a conceptual framework of product innovation for product extensions in new UK technology ventures