Innovation differences between new venture startups and incumbent firms

Katja Hölttä-Otto; Kevin N. Otto; Jianxi Luo

Innovation differences between new venture startups and incumbent firms

Katja Hölttä-Otto
, Kevin N. Otto
, Jianxi Luo

Research output: Chapters, Conference Papers, Creative and Literary Works › RGC 32 - Refereed conference paper (with host publication) › peer-review

12 Citations (Scopus)

Abstract

Innovation is critical to the long term success. Research suggests that new ventures create more innovations than larger established companies. Yet, engineering methods and technical focus areas for new product development are deemed no different from new ventures than established firms. Design to cost, increased functionality and optimized performance for example are all deemed important irrespectively. We empirically compare a sample of 92 award-winning innovative products from either new ventures or incumbent firms with respect to these five categories of product-level characteristics - cost, functionality, user interactions, external interactions and architecture. We show that, on average, award-winning products from the new ventures exhibited more characteristics of innovation than the ones developed by incumbents. This indicates that new ventures need to be more innovative than incumbents. Also interestingly, the distribution of innovation characteristics exhibited by innovative products remained unchanged between new ventures and incumbent firms; most innovations occur in the user interaction, external interaction and architecture categories, irrespective of firm type.

Original language	English
Title of host publication	Proceedings of the 19th International Conference on Engineering Design: Design for Harmonies, ICED 2013
Pages	277-286
Volume	3 DS75-03
Publication status	Published - 2013
Externally published	Yes
Event	19th International Conference on Engineering Design, ICED 2013 - Seoul, Korea, Republic of Duration: 19 Aug 2013 → 22 Aug 2013

Publication series

Name	Proceedings of the International Conference on Engineering Design, ICED
Volume	3 DS75-03

Conference

Conference	19th International Conference on Engineering Design, ICED 2013
Place	Korea, Republic of
City	Seoul
Period	19/08/13 → 22/08/13

Bibliographical note

Publication details (e.g. title, author(s), publication statuses and dates) are captured on an “AS IS” and “AS AVAILABLE” basis at the time of record harvesting from the data source. Suggestions for further amendments or supplementary information can be sent to [email protected].

UN SDGs

This output contributes to the following UN Sustainable Development Goals (SDGs)

SDG 9 Industry, Innovation, and Infrastructure

Research Keywords

Entrepreneurship
Innovation
New product development

Other Access Options

Check CityUHK Library

Permanent Link

Right click to copy link

Cite this

@inproceedings{09bbb9fbef554e34a02244a37519541c,

title = "Innovation differences between new venture startups and incumbent firms",

abstract = "Innovation is critical to the long term success. Research suggests that new ventures create more innovations than larger established companies. Yet, engineering methods and technical focus areas for new product development are deemed no different from new ventures than established firms. Design to cost, increased functionality and optimized performance for example are all deemed important irrespectively. We empirically compare a sample of 92 award-winning innovative products from either new ventures or incumbent firms with respect to these five categories of product-level characteristics - cost, functionality, user interactions, external interactions and architecture. We show that, on average, award-winning products from the new ventures exhibited more characteristics of innovation than the ones developed by incumbents. This indicates that new ventures need to be more innovative than incumbents. Also interestingly, the distribution of innovation characteristics exhibited by innovative products remained unchanged between new ventures and incumbent firms; most innovations occur in the user interaction, external interaction and architecture categories, irrespective of firm type.",

keywords = "Entrepreneurship, Innovation, New product development",

author = "Katja H{\"o}ltt{\"a}-Otto and Otto, \{Kevin N.\} and Jianxi Luo",

note = "Publication details (e.g. title, author(s), publication statuses and dates) are captured on an “AS IS” and “AS AVAILABLE” basis at the time of record harvesting from the data source. Suggestions for further amendments or supplementary information can be sent to [email protected].; 19th International Conference on Engineering Design, ICED 2013 ; Conference date: 19-08-2013 Through 22-08-2013",

year = "2013",

language = "English",

isbn = "9781904670469",

volume = "3 DS75-03",

series = "Proceedings of the International Conference on Engineering Design, ICED",

pages = "277--286",

booktitle = "Proceedings of the 19th International Conference on Engineering Design: Design for Harmonies, ICED 2013",

}

Hölttä-Otto, K, Otto, KN & Luo, J 2013, Innovation differences between new venture startups and incumbent firms. in Proceedings of the 19th International Conference on Engineering Design: Design for Harmonies, ICED 2013. vol. 3 DS75-03, Proceedings of the International Conference on Engineering Design, ICED, vol. 3 DS75-03, pp. 277-286, 19th International Conference on Engineering Design, ICED 2013, Seoul, Korea, Republic of, 19/08/13.

Innovation differences between new venture startups and incumbent firms. / Hölttä-Otto, Katja; Otto, Kevin N.; Luo, Jianxi.
Proceedings of the 19th International Conference on Engineering Design: Design for Harmonies, ICED 2013. Vol. 3 DS75-03 2013. p. 277-286 (Proceedings of the International Conference on Engineering Design, ICED; Vol. 3 DS75-03).

Research output: Chapters, Conference Papers, Creative and Literary Works › RGC 32 - Refereed conference paper (with host publication) › peer-review

TY - GEN

T1 - Innovation differences between new venture startups and incumbent firms

AU - Hölttä-Otto, Katja

AU - Otto, Kevin N.

AU - Luo, Jianxi

N1 - Publication details (e.g. title, author(s), publication statuses and dates) are captured on an “AS IS” and “AS AVAILABLE” basis at the time of record harvesting from the data source. Suggestions for further amendments or supplementary information can be sent to [email protected].

PY - 2013

Y1 - 2013

N2 - Innovation is critical to the long term success. Research suggests that new ventures create more innovations than larger established companies. Yet, engineering methods and technical focus areas for new product development are deemed no different from new ventures than established firms. Design to cost, increased functionality and optimized performance for example are all deemed important irrespectively. We empirically compare a sample of 92 award-winning innovative products from either new ventures or incumbent firms with respect to these five categories of product-level characteristics - cost, functionality, user interactions, external interactions and architecture. We show that, on average, award-winning products from the new ventures exhibited more characteristics of innovation than the ones developed by incumbents. This indicates that new ventures need to be more innovative than incumbents. Also interestingly, the distribution of innovation characteristics exhibited by innovative products remained unchanged between new ventures and incumbent firms; most innovations occur in the user interaction, external interaction and architecture categories, irrespective of firm type.

AB - Innovation is critical to the long term success. Research suggests that new ventures create more innovations than larger established companies. Yet, engineering methods and technical focus areas for new product development are deemed no different from new ventures than established firms. Design to cost, increased functionality and optimized performance for example are all deemed important irrespectively. We empirically compare a sample of 92 award-winning innovative products from either new ventures or incumbent firms with respect to these five categories of product-level characteristics - cost, functionality, user interactions, external interactions and architecture. We show that, on average, award-winning products from the new ventures exhibited more characteristics of innovation than the ones developed by incumbents. This indicates that new ventures need to be more innovative than incumbents. Also interestingly, the distribution of innovation characteristics exhibited by innovative products remained unchanged between new ventures and incumbent firms; most innovations occur in the user interaction, external interaction and architecture categories, irrespective of firm type.

KW - Entrepreneurship

KW - Innovation

KW - New product development

UR - https://www.scopus.com/pages/publications/84897614702

UR - https://www.scopus.com/record/pubmetrics.uri?eid=2-s2.0-84897614702&origin=recordpage

M3 - RGC 32 - Refereed conference paper (with host publication)

SN - 9781904670469

VL - 3 DS75-03

T3 - Proceedings of the International Conference on Engineering Design, ICED

SP - 277

EP - 286

BT - Proceedings of the 19th International Conference on Engineering Design: Design for Harmonies, ICED 2013

T2 - 19th International Conference on Engineering Design, ICED 2013

Y2 - 19 August 2013 through 22 August 2013

ER -

Innovation differences between new venture startups and incumbent firms

Abstract

Publication series

Conference

Bibliographical note

UN SDGs

Research Keywords

Other Access Options

Permanent Link

Other Files and Links

Fingerprint

Cite this