European Research & Innovation (R&I) funding programmes, in particular Horizon Europe, offer great opportunities for start-ups and small and medium-sized enterprises (SMEs) to leverage external knowledge through collaboration. There is a multitude of reasons why small businesses participate in...

This paper provides a novel theory of research joint ventures for financially constrained firms. When firms choose R&D portfolios, an RJV can help to coordinate research efforts, reducing investments in duplicate projects. This can free up resources, increase the variety of pursued projects and...

Innovation — the introduction of new-to-the-firm or new-to-the-world products and methods of production — is a necessary requirement for ongoing competition. Without innovation, other types of competitive action — advertising, training or price cutting — are subject to diminishing...