Wielding Scissors Skillfully: The Matching Process of Advanced Materials Ventures

Abstract

The promise of technological developments in advanced materials is attracting increasing attention, but their commercialization raises numerous challenges for incumbents and new entrant firms. These are summarized in a conceptual model of technological innovation as a matching process and in a number of propositions derived from the literature. Further examination and the extension of these propositions in the light of new evidence indicates both that entrepreneurial ventures play an important role in the commercialization of new materials and face shared challenges of matching their technological capabilities to market opportunities and potential alliance partners. These challenges are explored in more detail in a case study exemplar and metrics from 10 advanced materials ventures in the metropolitan Boston area. The paper concludes with policy and managerial recommendations.

Keywords: New venture strategy, opportunity exploitation, resource based theory, advanced materials, technological innovation, technology entrepreneurship, alliances, market strategy

JEL Classification: D21, L23, L69, M13, O31