Technological Entrepreneurship: The Allocation of Time and Money in Technology‐Based Firms

This synopsis reports on original research which was designed and supervised by the author and sponsored jointly by two units of the University of Michigan (Ann Arbor)—the Division of Research of the Graduate School of Business Administration and the Industrial Development Division of the Institute of Science and Technology. The research focused on the amount of time and effort allocated to eight functional areas of management in new technical spin‐off firms in Michigan and on the variation of effort associated with higher levels of success. Although the most substantive elements of the study concern Michigan enterprises, the intention of the undertaking—to assist with development of existing technological entrepreneurships, to prevent failure due to common pitfalls among new technical firms, and to encourage the growth of this potentially important sector of industry—permits translation of its findings to different economies.