Abstract
ABSTRACT Innovation voucher is an “innovation currency” issued by the government to subsidize high-tech small and medium enterprises (SMEs) to purchase services from external knowledge providers. Based on the knowledge-based view, this study examines the effect of the breadth and depth of innovation voucher-based collaboration on exploratory innovation and exploitative innovation. We use a sample of 865 high-tech SMEs that received innovation voucher support in Shanghai from 2019 to 2020. The results demonstrate that collaboration breadth is beneficial to SMEs’ exploitative innovation, and knowledge stock plays a positive moderating role in the relationship; while collaboration depth is detrimental to SMEs’ exploratory innovation, and knowledge stock negatively moderates the effect. This study adds empirical evidence to the role of innovation voucher cooperation in promoting innovation among high-tech SMEs, and it is an important guide for high-tech SMEs to carry out innovation activities in the context of innovation voucher policy.
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