This book represents a continuation of an uninterrupted record of international research pertaining to high technology small firms (HTSFs) over a period that has witnessed a rebirth of interest in the growth problems of the small firm, and is a further addition to a portfolio of specialist work by academics and practitioners on the issues facing new technology-based firms (NTBFs).
The book begins with a conceptual overview on the broad theme of innovation in NTBFs, providing a theoretical perspective on the problems of innovation at the end of the twentieth century and setting in context the more specific contributions to follow. A continuing theme of HTSF research is innovation management, and seven chapters are included under this heading focusing on topics such as university spin-out companies and the role of non-executive directors. The successful management of innovation in NTBFs is clearly critical to their survival and growth. Another key and recurrent area of interest to researchers concerned with the problems of NTBFs is finance, with three chapters here addressing the funding problems faced by NTBFs during often lengthy periods of product development. The book concludes with a set of contributions which deal with the increasingly important issues of clustering and location as they affect NTBFs.
The chapters included in this book represent a strong set of themes indicative of what key workers in the area of NTBF development are thinking at the turn of the millennium. These issues of effective management, funding and networking are key themes that will continue in the new millennium.

The selected papers in this volume bear witness to a maturing of High Technology Small Firms (HTSF) research. In the past, HTSF research has produced some solid findings, but also several paradoxes: shedding more light on the unintended and paradoxical effects of technology developments regarding HTSFs is now one of the aims of research in this field, and an observed change in the focus of the research agenda is reflected in this book.
Although many of the topics have also been covered in earlier volumes, a gradual shift from descriptive case or survey studies to more explanatory studies, with an objective of understanding the processes that drive HTSF development, now becomes apparent. Researchers from different backgrounds increasingly strive to apply and integrate theoretical traditions that focus on the individual firm, regional and wider environmental levels. As a result of this shift, topics such as financing, internationalisation or firm development are viewed more from a perspective of networking and cooperation, or of development and growth.
The understanding of how to promote cooperation and networking will probably remain on the HTSF research agenda for some years to come; the development and growth processes of HTSFs, within the context of clusters and networks, will also be high on the agenda in the next decade.