New technology-based companies are among the main vehicles for growth in modern industrialised societies. These companies play an important role in the transfer of technology and in the commercialisation of new technologies developed in industry, universities, and research institutes. Countries which are not able to keep up with the rate of technological change are prone to lose ground to countries which are better prepared for taking advantage of opportunities created by rapid technological change. This study explores the existing knowledge regarding the growth of new technology-based companies. The study focuses on different models for new company growth, on determinants of growth for new companies and on internal and external factors affecting the growth especially of new technology-based companies.
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