The influence of initial business models on early business performance – a study of 589 new high-tech firm
Artikel i vetenskaplig tidskrift, 2021

The initial business model of start-ups affects the performance and development of new ventures. Therefore, new technology-based firms (NTBFs) must choose a suitable initial business model to survive, perform, and grow. We propose a measurement framework comprising of nine elements described using 16 variables for NTBFs' initial business models. We test our framework by surveying 589 young manufacturing and knowledge-intensive high-tech firms established in 2013 in Sweden, Finland, and France. We identify differences between the business models across countries and measure sales growth during 2014-2016. We find significant differences between high-tech manufacturing firms and high-tech knowledge-intensive firms regarding key partners, activities, and resources, as well as value propositions and the ranking of elements. In the second part of the analysis, we apply correlation and regression tests for the nine elements regarding early business performance (sales growth) for the manufacturing and knowledge-intensive high-tech firms.

early business performance

initial business model

new technology-based firms

Business models

industry sector


Anders Isaksson

Chalmers, Teknikens ekonomi och organisation, Entrepreneurship and Strategy

Hans Löfsten

Metropolia University of Applied Sciences

Heikki Rannikko

Metropolia University of Applied Sciences

International Journal of Innovation Management

1363-9196 (ISSN)

Vol. 25 5 2150055


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