Entrepreneurship, People and Organisations

Entrepreneurship, People and Organisations

Frontiers in European Entrepreneurship Research

Edited by Robert Blackburn, Frédéric Delmar, Alain Fayolle and Friederike Welter

This book, written by leading scholars, provides stimulating coverage of topical issues in the field of small business and entrepreneurship. Entrepreneurship has already been shown to be a significant source of innovation and economic development but the variations in the contribution at the individual, organisational, regional and national levels remain relatively unexplored. The types of contributions – behavioural, economic and social – are also relatively new areas for empirical scrutiny and theoretical development. This anthology provides in-depth analyses of entrepreneurship across Europe and demonstrates the importance of context – the geographical, political and socio-economic milieu within which entrepreneurship takes place.

Chapter 7: Entrepreneurship and technological innovation: the influence of uncertainty and entrepreneurial ability on innovation speed in new technology start-ups

Jonas Gabrielsson, Diamanto Politis and åsa Lindholm Dahlstrand

Subjects: business and management, entrepreneurship


A basic tenet in contemporary theories of innovation is that novel products based on technological advances create temporary monopolies on the market. This favorable position allows for the possibility to reap abnormal profits and provide entrepreneurs with economic incentives to develop products and processes based on new and emerging technologies. However, these temporary monopolies would soon be competed away by rivals and imitators if the underlying insight behind the application of a new technology were not sufficiently protected (Shane 2005). One way of protecting technological advances is through the patent system, which grants a time-limited but exclusive legal right to exploit an invention on the market (Barber and Logan 1999). In exchange for this commercial monopoly, holders of a patent are obliged to publish a detailed description of the new technology so that the know-how underlying the invention can be diffused to stimulate further technological development and economic growth. Technology entrepreneurs who are granted a patent and take measures to develop and commercialize an invention in a new start-up are however never fully protected. Despite the legally protected commercial monopoly, they are also faced with the problem that the window for exploiting technological discoveries is constantly shrinking due to knowledge spillovers, replication and technological obsolescence (Markman et al. 2005). Adding to this, the full range of potential applications based on new technologies is seldom fully understood (Shane 2000) which means that possible future markets might be uncertain and not perfectly clear (Gruber et al. 2012).

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