A Comparison of Within-Firm and External Sources of Product Innovation

Abstract

ABSTRACT This paper examines the role of internal and external research, design and development (RD&D) activity in the innovation performance of New York State manufacturing firms in the scientific instruments sector. Survey data from a sample of 204 small and medium‐sized companies suggest that the incidence of successful product development is higher among firms that combine in‐house RD&D with technical support from independent specialists. Significantly, firms that supplement their in‐house innovation efforts with outside talent are found to exhibit better commercial performance than their counterparts that operate on the basis of either internal or external technical resources alone. The paper concludes with a brief agenda for future empirical research on the conditions that support product innovation among small and medium‐sized firms.

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