A conceptual framework for measuring entrepreneurship and innovation of young hi-technology firms

Abstract

This paper examines the different
theories that have been developed in economics and
innovation management to explain the causal chain
of events through which entrepreneurs can deliver
more innovation and ultimately higher growth for
the benefits of the regional and national economies
and identifies the key firm-based factors that lead
to survival and long term development of high
technology firms. It determines the extent of the
entrepreneurial activities and possible factors that
constrain or assist the growth process of these firms.
It then draws upon the key predictions of the core
theories of entrepreneurship and innovation to
formulate a model for measuring the characteristics
of entrepreneurial hi-tech firms, characteristics of
innovating firms, and innovation and firm growth
dynamics. The model is developed to explain these
key building blocks that might lead to enhanced
prior economic growth and the patterns and
dynamics observed in a developing country context.