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What are the barriers to start-up and scale-up in R&D intensive firms?

Patton, D. and Huynh, T., 2018. What are the barriers to start-up and scale-up in R&D intensive firms? SOTA Review, 11 (November 2018), 1-9.

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Abstract

R&D investments enhance knowledge, underpin innovation and facilitate the creation of new firms; this recognised source of economic development has become integral to government policy in many countries. While all firms face difficulties engaging in R&D, new and young firms are most affected, facing internal and external factors that inhibit investment or impede the process. A decision to invest in R&D often stalls due to concerns about appropriation and/or limited access to appropriate finance, but once engaged the barriers are found in the nexus of knowledge, networks and skills that underpin dynamic capabilities and the enhancement of a firm’s absorptive capacity. In particular, the emphasis placed in the beginning upon science/technology expertise, at the expense of managerial acumen, undermines a firm’s ability to recognise and exploit commercial opportunities. Accepting that knowledge, network and skills are significantly influenced from the imprint established at start-up; it is the opportunity to learn during the reconfiguring process, as the firm seeks to commercialise the opportunity, that underpins scale-up. Although it is possible to identify individual barriers, this fails to recognise how they coalesce to create complex problems that require bespoke solutions.

Item Type:Article
Uncontrolled Keywords:R&D intensive firms ; Scale-up ; growth ; start-up
Group:Faculty of Management
ID Code:33504
Deposited By: Unnamed user with email symplectic@symplectic
Deposited On:25 Feb 2020 12:15
Last Modified:25 Feb 2020 12:15

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