New Approach to Detect and Select Technology-Based Firms

Abstract

Technology-based firms are a key driver for the growth potential of a country due to their capacity to introduce radical innovations and value into the economy. In this chapter, the authors propose a definition for technology-based firms based on strategies that makes possible to identify the companies with advanced use of technology (including knowledge) in all the sectors of the economy. This refined definition helps to identify this kind of companies and to orientate special public policies to foster their development. For follower countries in terms of technology and innovation, as it is the case of Spain, technology-based firms may be a significantly different collective compare with advanced technological countries. Thus, the authors propose a method to detect technology-based firms in not only high technology sector using a Technological Innovation Panel (PITEC) in Spain. This chapter confirms that there are technology-based firms in many activities outside the high technology sectors that can be of interest for public institution and investors.