A quarter century of my ongoing research on technological entrepreneurship forms the basis for this book. That research has focused upon the formation and growth of independent high-technology new enterprises. In parallel I have also been studying the related issues of internal entrepreneurship and other approaches to development of new product and new business ventures in already existing larger companies. The latter area of continuing research on corporate venturing and "intrapreneurship" is not treated in this book.
My research on new technical companies has investigated many aspects of their formation and growth, the background and characteristics of the founding entrepreneurs, the evolution of the companies from their early days, and the factors affecting their success and failure, including product strategy and overall strategic change. Several of these studies have focused on the entrepreneurs' search for venture capital and on the decision processes involved in funding new high-risk firms. Working with graduate research assistants and other students, over 40 research studies in all, clustered into five "Research Tracks", have been undertaken as part of a continuing comprehensive and integrated program that began in 1964 and is still underway in 1991.
The research began in 1964 as part of the MIT Research Program on the Management of Science and Technology, funded since 1962 for several years at the MIT Sloan School of Management by the U.S. National Aeronautics and Space Administration (NASA). My early concern was that NASA was misguided in the handling of its Technology Utilization Program, which was attempting to transfer technology developed in the space program to commercial users. NASA was employing massive reporting systems and large computer data bases to that end. Several of us