Innovation orientations, external partnerships, and start-ups' performance of low-carbon ventures

Although innovation orientations are effective strategic postures in order to compete in marketplace, simply deploying high levels of innovation orientations does not always yield economic returns to new ventures. Drawing on the resource-based view and social network theory, this study aims at examining the relationships between innovation orientations (technological innovation and marketing innovation), external partnerships (technology partnership and market partnership) and start-ups' performance. Using a sample of 132 low-carbon ventures located in Liaoning province, China, empirical results revealed that high levels of technological innovation and marketing innovation were positively related to start-ups' performance. Meanwhile, there was no direct link between external partnerships and start-ups' performance. However, we found that external partnerships play moderating role that may alter the performance implications of innovation orientations. Our research findings provide several managerial implications for market practice and policy-makers.