Four types of innovators: a conceptual and empirical study of new, technology-based companies as innovators

Abstract

This article discusses and analyses different roles of new, technology-based companies as innovators. A taxonomy of four innovator types is constructed and discussed. The four innovator types are labelled as: paradigm innovators, technology innovatos, market innovators, and application innovators. When analysing an empirical sample of new, technology-based companies, paradigm innovators are found to be the result of a more extensive research work experience, to rely more on the incubator organization as growth t~asis and as provider of initial technology, and to be more active in exploiting external technolclgy sources. When comparing databases consisting of the spin-off companies of the Technical Research Center of Finland VTT, and Cambridge University, it is found that paradigm inntovators are relatively much more frequent in the Cambridge sample. This difference may be due to the more academic orientation of Cambridge University and the more practical, industry-related orientation of the Technical Research Center of Finland. This finding suggests that different types of research institutions tend to emit different spectres of innovating spin-off companies. More research is needed to confirm the results of this study.

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