New ventures in Cleantech: Opportunities, capabilities and innovation outcomes
比较了567家清洁技术初创企业与对照组非清洁技术初创企业，发现前者技术能力更强，更擅长以新方式组合现有技术，并在后续年份开发出更多市场新事物。
Abstract Facing the challenge of climate change, innovations that imply environmental benefits create business opportunities for entrepreneurs. This paper analyzes innovation capabilities of startups in Cleantech and how the innovation outcomes of those startups develop over time. Based on the Mannheim Foundation Panel and applying propensity score matching, a cohort of 567 Cleantech startups is analyzed and compared with a control cohort of non‐Cleantech startups. We find that startups in Cleantech have, on average, higher technological capabilities compared with all other startups. Our econometric evidence shows that Cleantech startups are more likely to combine existing technology in a novel way. Finally, we find that Cleantech startups develop more market novelties in subsequent years when compared with their control group peers.