Policies and Founder Characteristics of New Technology-Based Firms (NTBFs): A Comparison between British and Indian Firms

Abstract

Commercializing new and emerging technologies is a major source of discontinuous change in the economy and hence, would lead to qualitative rather than quantitative progress. New Technology-Based Firms (NTBFs), therefore, have an important role in the development of the economy. The present study is an attempt at identifying the distinguishing features of NTBFs in terms of their venture policies and foundercharacteristics. For this purpose, comparisons were made at three levels: (a) Between British NTBFs and OTBFs (Old Technology-based firms); (b) Between Indian NTBFs and OTBFs, and (c) Between British NTBFs and Indian NTBFs. The principal features of NTBFs were identified by factor-analyzing the distinguishing characteristics. Implications of the findings for theory and practice in the Indian context are discussed.