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Cited by 30Entrepreneurship Studies and InfluencesInnovation and Knowledge ManagementFirm Innovation and Growth

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Free range startups? Market scope, academic founders, and the role of general knowledge in AI

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Chattopadhyay, Shinjinee, Honoré, Florence, Won, Shinjae·2025·Strategic Management Journal
DOI 10.1002/smj.3685
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Abstract

Research Summary: High‐tech startups develop technologies, the market applicability of which can vary widely, enabling startups to target a range of market segments. Using a question‐driven approach to contrast startups with and without academic founders, we investigate the difference in the market applicability between the two groups on a sample of 988 startups in the artificial intelligence (AI) field. Our findings reveal that academics' pursuit of basic research drives the creation of general knowledge, which in turn leads to wider market applicability. With fewer requirements for complementary downstream assets in the AI ecosystem, academics can more easily translate their general ideas to market applications and locate downstream in the value chain. Our findings highlight the role of problem‐formulation and ‐solving in startups and of academic startups within AI. Managerial Summary: Using a sample of 988 startups in the Artificial Intelligence field, we find that startups with at least one academic on their founding team are associated with a higher number of verticals (potential market segments for the technology the startups developed) compared to startups without any academics. Teams with academic founders produce more general publications and patents than others, which drives the association with more verticals. Academics formulate and solve more general problems relative to non‐academics, leading to the creation of more general products that are applicable to a broader range of verticals. With fewer requirements for complementary downstream assets in the AI ecosystem, academics can more easily translate their general ideas to market applications and locate downstream in the value chain.

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Metadata

Authors
Chattopadhyay, S., Honoré, F., & Won, S.
Affiliations
  • University of Illinois Urbana-Champaign (US)
  • Wisconsin School of Business University of Wisconsin‐Madison Madison Wisconsin USA
Corresponding author
Chattopadhyay, Shinjinee
ORCID
Venue
Strategic Management Journal
Publisher
Wiley
Published
2024-12-16
Volume
46
Issue
4
Pages
1027-1079
ISSN
  • 0143-2095 (ISSN-L)
  • 1097-0266
DOI
10.1002/smj.3685
OpenAlex
W4405451882
Cited by
30
References
4
Citations by year
2026: 16 · 2025: 14
FWCI
9.03
Type
journal article
Language
en
Open access
Licence
Locations
Strategic Management Journal (publishedVersion, cc-by-nc-nd)
Funders
  • University of Wisconsin-Madison
  • Korea Advanced Institute of Science and Technology
  • University of Illinois at Urbana-Champaign
Topics
  • Social Sciences › Business, Management and Accounting › Management of Technology and Innovation › Entrepreneurship Studies and Influences
  • Social Sciences › Business, Management and Accounting › Strategy and Management › Innovation and Knowledge Management
  • Social Sciences › Economics, Econometrics and Finance › Economics and Econometrics › Firm Innovation and Growth
Keywords
technology startups, artificial intelligence startups, market scope, general knowledge, problem formulation, value chain positioning, complementary assets, patents, technology commercialization

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