How does late-career entrepreneurship relate to innovation?

Martin Murmann, Virva Salmivaara and Ewald Kibler

Research Policy, 2023, vol. 52, issue 6

Abstract: In this paper, we present an explorative study that develops our understanding of the relationship between late-career entrepreneurship and innovation-driven business activity. Based on observations of 2903 solo founders of new ventures in Germany in 2008–2017, we offer first and robust evidence that late-career entrepreneurs (~50 years and above) are more likely than younger founders to introduce product/service innovations that are ‘new to the market’. Our explorations specifically reveal that older founders who draw on personal financial resources and combine their innovation orientation with prior managerial experience are most likely to generate the types of innovations that bring new products or services to the market. We conclude by discussing how our study's insights contribute to the research agenda on innovations in late-career entrepreneurship.

Keywords: Entrepreneurship; Career; Innovation; Aging; Age (search for similar items in EconPapers)
Date: 2023
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Citations: View citations in EconPapers (3)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:respol:v:52:y:2023:i:6:s0048733323000471

DOI: 10.1016/j.respol.2023.104763

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