The Internationalisation of Young High-Tech Firms

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The huge economic and social impact of high-tech industries on the fortunes of nation states has been widely recognised in recent years. Therefore, government policies encouraging the creation of new technology-based firms have become a priority in virtually all advanced economies. One factor underpinning the performance and growth of high-tech start-ups is presumably international activity of such firms. This study addresses the issues concerning the critical decision to internationalise. The research sought to provide empirically supported analyses on (a) the incidence of international activity, (b) the degree of internationalisation, (c) the timing of entry into international markets, (d) the mode of market entry employed, (e) the impact of internationalisation on performance and (f) the differences between internationalising and non-internationalising firms. The findings confirm the extent and importance of internationalisation to young high-tech firms in the UK and Germany. Thus, if governments or venture capitalists are interested in the promotion of successful new technology-based firms they must, per force, be also interested in encouraging the processes of internationalisation.