Technology Strategy By Growth Stage Of Technology-Based Venture Companies

None of theoretical or empirical researches have succeeded in drawing an effective strategy. This study sheds light on the question of choice between make and buy by renewing the existing growth model from the viewpoint of technology strategy. In the incubation stage, entrepreneurs should acquire technologies as quickly as possible regardless of the sources of technology. Then, they should enlarge the capability of internal R&D to internalize and further technologies acquired during the incubation stage. In order to achieve sustainable growth after IPO, they should pursue both internal technology development and outsourcing in parallel.