Managerial roles in new technology-based firms: counteracting a 'technology-based approach'

Abstract

New technology-based firms (NTBFs) are usually created by entrepreneurs with a technical or scientific background. They are highly skilled at a given technology but they may not have any business experience. Nonetheless, these firms need a balance between technical and managerial skills in order to succeed. Most technology entrepreneurs have a 'technology push' view of innovation. There is abundant literature on start-up knowledge and on the managerial skills required of entrepreneurs. However, little attention is paid to the influence of managers in the 'technology push' view of innovation in NTBFs. This research is devoted to exploring this gap, and it concludes that the main role of managers in NTBFs consists in adopting a market orientation, limiting exploration, and ensuring employees have the necessary skills and accomplish their functions. Managers need to partner with experts and make sure investors understand the firm's business model.