The Composition and Dynamics of Technology-Enabled Entrepreneurship

68 Pages Posted: 13 Mar 2023

See all articles by Innessa Colaiacovo

Innessa Colaiacovo

Harvard University

Daniel P. Gross

Duke University - Fuqua School of Business; National Bureau of Economic Research

Jorge Guzman

Columbia University - Columbia Business School; NBER

Date Written: March 9, 2023

Abstract

Using data on nearly all U.S. business registrations since the turn of the twentieth century, and a set of 386 major technologies invented over this period, we study the level, composition, and dynamics of entrepreneurial activity around new technology. We find a large, varied entrepreneurial economy rooted in innovation, where the vast majority of startups are not high-growth technology entrepreneurs but rather local, low-growth firms engaged in a wide range of complementary activities. The level and composition of this firm creation varies across technologies and over the technology lifecycle, and can be predicted from a technology's initial patents. We discuss implications of this evidence for research in entrepreneurial and technology strategy, business ecosystems, and industry dynamics.

Keywords: entrepreneurship, innovation, ecosystems, industry dynamics

Suggested Citation

Colaiacovo, Innessa and Gross, Daniel P. and Guzman, Jorge, The Composition and Dynamics of Technology-Enabled Entrepreneurship (March 9, 2023). Columbia Business School Research Paper No. 4383445, Available at SSRN: https://ssrn.com/abstract=4383445 or http://dx.doi.org/10.2139/ssrn.4383445

Innessa Colaiacovo

Harvard University ( email )

1875 Cambridge Street
Cambridge, MA 02138
United States

Daniel P. Gross

Duke University - Fuqua School of Business ( email )

Box 90120
Durham, NC 27708-0120
United States

National Bureau of Economic Research ( email )

1050 Massachusetts Avenue
Cambridge, MA 02138
United States

Jorge Guzman (Contact Author)

Columbia University - Columbia Business School ( email )

3022 Broadway
New York, NY 10027
United States

NBER ( email )

1050 Massachusetts Avenue
Cambridge, MA 02138
United States

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