External innovation search strategies and product innovations in industrial clusters of new ventures

Abstract

Abstract: Shifting from over emphasis on larger companies inside and outside the region to give importance to new ventures is a new approach for industrial cluster upgrading. Based on the sample firms from Zhejiang Province, the theory of entrepreneurship and innovation search are drawn on, the impact of external innovation search on new ventures’ product innovation in industrial clusters is examined. The results show that there are four different external innovation search strategies for new ventures and they affect new ventures’ product innovation in different ways. Global search breadth contributes to product innovation, local search depth is nonlinear related to product innovation, and other search strategies affect new ventures’ product innovation insignificantly. Theoretical contribution and practice implication are also discussed.

Key words: clustered new venture, innovation search, product innovation, industrial cluster upgrade

CLC Number:

F270.81

Wu Aiqi, Li Shengxiao. External innovation search strategies and product innovations in industrial clusters of new ventures[J]. Science Research Management, 2012, 33(7): 1-7.

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