Invention traits and alliance formation for high-tech startups

Alliances are essential for high-tech startups that are seeking resources and preparing for future expansion. This study examines how the attributes of high-tech startups' early-stage inventions influence the likelihood of forming alliances. Specifically, we explore the impact of technological novelty and economic scope of inventions on alliance formation. Using a sample of 408 healthcare startups, we empirically demonstrate that technological novelty has a negative impact on alliance formation, whereas economic scope has a positive impact. We also find that the engagement of corporate venture capitalists can mitigate the negative impact of technological novelty on high-tech startups' alliance formation.