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New ventures in Cleantech: opportunities, capabilities and innovation outcomes

Author

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  • Lööf, Hans

    (CESIS - Centre of Excellence for Science and Innovation Studies, Royal Institute of Technology)

  • Andreas, Andreas

    (Jönköping International Business School (JIBS) & Centre of Excellence for Science and Innovation Studies (CESIS))

  • Wulandari, Febi

    (Jönköping International Business School (JIBS))

Abstract

Facing the challenge of climate change, innovations that imply environmental benefits create business opportunities for entrepreneurs. This paper analyzes innovation capabilities of startups in Cleantech and how the innovation outcomes of those startups develop over time. Based on the Mannheim Foundation Panel and applying propensity score matching, a cohort of 566 Cleantech startups is analyzed and compared with a control group of non-Cleantech startups. We find that startups in Cleantech have, on average, higher innovation capabilities compared with all startups. However, Cleantech startups are a heterogeneous group including ventures using common technology and those developing new technology. Our econometric evidence shows that, ceteris paribus, Cleantech startups are more likely to combine existing technology in a novel way. Finally, we find that Cleantech startups do, on average, develop more market novelties in later years compared to theirs peers.

Suggested Citation

  • Lööf, Hans & Andreas, Andreas & Wulandari, Febi, 2018. "New ventures in Cleantech: opportunities, capabilities and innovation outcomes," Working Paper Series in Economics and Institutions of Innovation 467, Royal Institute of Technology, CESIS - Centre of Excellence for Science and Innovation Studies.
    • Handle: RePEc:hhs:cesisp:0467
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    Cited by:

    1. Febi Jensen & Dorothea Schäfer & Andreas Stephan, 2019. "Financial Constraints of Firms with Environmental Innovation," Vierteljahrshefte zur Wirtschaftsforschung / Quarterly Journal of Economic Research, DIW Berlin, German Institute for Economic Research, vol. 88(3), pages 43-65.
    2. Anja Gaudig & Bernd Ebersberger & Andreas Kuckertz, 2021. "Sustainability-Oriented Macro Trends and Innovation Types—Exploring Different Organization Types Tackling the Global Sustainability Megatrend," Sustainability, MDPI, vol. 13(21), pages 1-19, October.
    3. Sebastian Hinderer & Andreas Kuckertz, 2022. "The bioeconomy transformation as an external enabler of sustainable entrepreneurship," Business Strategy and the Environment, Wiley Blackwell, vol. 31(7), pages 2947-2963, November.
    4. , Aisdl, 2021. "Recipes for a Successful Exit for Clean- and Hard-tech Startups," OSF Preprints k3vey, Center for Open Science.

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    More about this item

    Keywords

    Innovative startups; green innovations; Cleantech; capabilities; policies;
    All these keywords.

    JEL classification:

    • M13 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - New Firms; Startups
    • O13 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Agriculture; Natural Resources; Environment; Other Primary Products
    • O25 - Economic Development, Innovation, Technological Change, and Growth - - Development Planning and Policy - - - Industrial Policy
    • O31 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives

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