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- Publisher
- SAGE
- Copyright
- © 1976 SAGE Publications
- ISSN
- 0363-9428
- eISSN
- 1540-6520
- DOI
- 10.1177/104225877600100106
- Publisher site
- See Article on Publisher Site
Abstract
FINANCIAL CHARACTERISTICS OF NEW TECHNOLOGY BASED FIRMS WILLIAM W. WELCH, University of Michigan This research is concerned with the financial needs and sources of financing of new firms which develop commercially new technology-based products. The objective of the research is to determine what are the capital needs and capital sources of new technology based firms (NTBF) and what are the differences in financial support that affect NTBF performance of NTBF located in two different areas. Interviews were of 26 firms in an area (Boston) where a successful (NTBF) conducted with founders complex has been developed and with founders of 26 firms in an area (Ann Arbor Detroit) where a less successful complex has been developed. The two areas were selected to provide a contrast of conditions conducive to the successful founding of these firms. The Ann Arbor-Detroit firms were selected to provide a sample of firms that were representative of firms in that area. Boston area firms were then selected to match, as closely as possible the Ann Arbor-Detroit sample firms on the basis of product type during the firm's first year of operation. Interview data was obtained concerning the sample firm's financial needs, sources and early operating performance
Journal
American Journal of Small Business – SAGE
Published: Jul 1, 1976