New technology-based firms in the European union: an introduction

This paper introduces the Special Issue on New Technology-Based Firms in Europe. It provides an overview of the issues. The role of smaller firms in the development of Europe's high technology sectors is summarized, as are the policy issues, but the paper mainly discusses the characteristics of European NTBFs and their founders. This includes a review of the evidence with regard to the survival, growth and geographical clustering of NTBFs in Europe, as well as the factors facilitating and inhibiting their creation and development.