This article proposes a taxonomy of business models used by small, highly innovative firms focused on technology commercialization. Such firms disproportionately contribute to technological change in the US economy. The firms operate across industries and use a variety of technology platforms. Exploratory factor analysis of keyword occurrence on firm websites generated a taxonomy comprising: research organization; development stage biosciences; highly specialized component supplier; specialized subcontractor; product solutions providers; and service solutions providers. This framework provides entrepreneurs and policy makers with an overview of new technology commercialization paths tailored to small, innovative firms.
The authors are deeply indebted to David Schoeneck for research support and
Small Business Administration, Office of Advocacy [SBAHQ05M0292 to D.H. and