Drawing on institutional theory, we examine how the institutional logics — taken-for granted norms, structures, and practices — of different types of funding partners influence young firms and their search for innovations. We test our hypotheses in a longitudinal study of a complete...

Prior work examines competitive moves in relatively stable markets. In contrast, we focus on less stable markets where competitive advantages are temporary and R&D moves are essential. Using evolutionary search theory and an experiential simulation with in-depth fieldwork, we find that the...