Performance Impacts of Innovation Outcomes in Entrepreneurial New Ventures

Entrepreneurial innovation and its link to performance are attracting increasing attention among academics, entrepreneurs, and innovators alike. Our purpose is to prioritise and investigate the relative impact of distinct categories and types of innovation on multidimensional performance areas of new ventures. Accordingly, we relate the recently developed 10 Types of Innovation model to a comprehensive performance measurement framework specific to entrepreneurial new ventures and conduct empirical validation of the model for performance impacts. The 10 Types model shows reasonable psychometric properties and appears to effectively portray the innovation outcome conundrum. Our empirical evidence shows that the influence of innovation categories - configuration, offering, and experience - is substantively different across various performance criteria. Conversely, the effects of innovation types on different performance areas (financial, customer, process, and learning) do not present important variations, and thus do not seem to be contingent upon the nature of the performance measures considered.