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Since the pioneering work scholars such as Joseph Schumpeter and Peter Drucker, the fields of innovation and entrepreneurship have evolved to become two separate and distinct disciplines. Schumpeter 1 focused on the contributions of entrepreneurial startups and smaller firms, whereas Schumpeter 2 emphasized the role of formal research, development and industrial innovation in larger firms. Unfortunately, the study and practice of each field has suffered as a result: entrepreneurship has become preoccupied with individual entrepreneurs and small business creation, and innovation is dominated by corporate R&D and new product development.
Promoting Innovation in New Ventures and Small and Medium Sized Enterprises (SMEs) aims to bridge these two fields by examining innovation in new ventures and SMEs. This book identifies themes which can reunite the study and practice of entrepreneurship and innovation by examining a potentially bridging phenomenon. The focus here is on high growth, innovative SMEs, and the interactions between SMEs and larger organizations, private and public. It is organized around three overlapping themes: SME innovation performance, practices and networks.