The role of innovation support agents in the development of new technology based firms from the perspective of information asymmetry

Abstract

The aim of this paper is to analyze the role of innovation support agents (ISAs) in the development of new technology-based firms (NTBFs) from the perspective of information asymmetry among economic agents. It was performed a qualitative cross-case analysis about two business incubators, two business accelerators, and two science parks. According to the empirical data collected and posterior analysis it was found that ISAs contribute to the development of NTBFs in the following ways: distributing market information to them, reducing their search costs; enabling their social capital formation; borrowing reputation to them; reducing the search costs of market agents to access their NTBFs. Furthermore, these roles vary to the nature of the ISA investigated. Lastly, this research can be used as a reference by both, ISAs and NTBFs, regarding the development of the informational and social aspects of this latter. Keywords: information asymmetry, NTBFs, science parks, business incubators, business accelerators.