Intellectual capital as a strategic model to create innovation in new technology based firms

Abstract

This chapter highlights the importance of SMEs and New Technology Based Firms (hereafter NTBFs) for sustainable economic development and discusses the need to incorporate dynamic resources and capabilities to facilitate their performance under the current economic scenario of crisis and change. Focus is placed on the strategic role of intellectual capital, through the leverage of creative and innovation capabilities, to strengthen and develop firms; thus emphasizing the micro-strategic perspective of dynamic capabilities in innovation processes of NTBFs. In addition, an evaluation of the role that Intellectual Capital Reports (ICR) play in this process and in the development of core competences, through implementation in almost 100 NTBFs located in science and technology parks of Madrid, is presented.