Technological Resources and New Firm Growth : A Comparison of Start-Up and Adolescent Ventures

New ventures play a significant role in the U.S.economy.However, much debate still surrounds the processes and factorsthat influence new venture growth (NVG).The impact of technologicalresources on NVG has been examined in the past; however, these research studiesare not without flaws and limitations.In this study, the relationshipbetween technological resources and increased sales is examined through acomparison of startupsand adolescent firms.The theories regardingNVG are discussed and utilized to create hypotheses that consider the variablesof venture stage and technology level.A sample of 419 ventures,consisting of both startup and adolescent ventures, is assembled from both hightechnology (i.e., electronic components, chemicals, surgical appliances) andlow technology (i.e., food processing, leather products, furniture)industries.The data are drawn from responses tofaxed and emailedquestionnaires, and the variables assessedinclude sales growth, R&Dspending, and research portfolios.Results of the data analysis arediscussed in terms of both domestic sales growth and international salesgrowth.The implications of the findings and the limitations of themethods, including survivor bias and interrelationships among firms, are alsoexamined.The findings indicate that startup firms and adolescent firmsdiffer in the types of technological resources needed to achieve growth.(AKP)