Origins and emergence of exploration and exploitation capabilities in new technology-based firms

The essence of new technology-based firms (NTBFs) is to generate new technologies and employ them in practice, contributing to a business sector in which many approaches to innovation have been exhausted. NTBFs are typically established around a founding team that possesses few resources but specific knowledge and a promising idea; NTBFs lack most of the advantages of incumbent organizations. To have a chance to succeed, these firms need to...