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August 6, 2026Journal of Product Innovation ManagementOpen Access

Do Tech‐Based New Ventures Founded During Major Economic Crises Generate Different R&D Outputs?

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Authors

PHPhilip HaeberleJNJannis von NitzschVWVictoria Willcke-Berg

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Overview

Randomized trial compares R&D outputs of tech ventures founded in crises versus stable periods, suggesting unique impacts.

Key Points

  • This research examines how economic crises affect R&D outputs in tech-based ventures during their founding phase.
  • Empirical analysis comparing R&D outputs of ventures founded during the Global Financial Crisis (2008/2009) to a control group founded in stable economic periods.
  • Assessment of quality of R&D outputs, measured in patents and breakthrough inventions.
  • Analysis of operational roles and issued products relative to economic conditions at foundation.
  • Crisis ventures produced 47% fewer granted patents but 212% more breakthrough inventions compared to stable period ventures.
  • Founding during a crisis resulted in a 17.4% reduction in R&D positions in operational roles.
  • Crisis ventures issued 24.8% fewer products, emphasizing a focus on founders as primary inventors.

Cite This Study

Haeberle et al. (2026) studied this question.

synapsesocial.com/papers/6a7437ba764cddc9499d540ehttps://doi.org/10.1111/jpim.70054
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