Technology and Innovation Management in New Technology-based Firms

Entrepreneurial firms have two efficient weapons with which to compete with established competitors. On the one hand, they own unique, innovative technologies or products, and on the other hand, they are able to react more flexibly to customers¹ demands than larger, more powerful organizations. Nevertheless, to establish a successful mature firm, certain requirements have to be fulfilled during the growth process of a New Technology-Based Firm (NTBF). First of all, it is essential to formulate and clarify the business idea. The development from product concepts to finished products which will be bought by the customer, the definition of the market and the development of an operational organization are also important steps. Capitalizing on entrepreneurial advantages requires a special technology and innovation management approach, which can be found in the PockeTM (Pocket Technology Management) a technology and innovation management system with minimal size and adaptive composition. The PockeTM consist of five key elements including technology strategy, technology intelligence, technology managementcontrol, cooperation and knowledge management which apply to a wide range of companies and industrial sectors. This book is oriented towards the management of NTBFs and technology based SMEs, as well as towards consultants, researchers and students active in the interface between the management of technology, innovation and entrepreneurship.
Martin Luggen has a scientific background and he has strengthened his knowledge in management science through his research activities at the ETH Center for Enterprise Science, Group of Technology and Innovation Management, at the ETH Zürich. The focus of his research was on the management of technology-based, entrepreneurial firms.