Functional Knowledge versus Strategic Knowledge: What Type of Knowledge Matters Most for the Long-Term Performance of Startups

ABSTRACT Past studies have shown that the flow of knowledge from incumbent firms is associated with the creation of startups and their subsequent performance. While much research has focused on the mechanisms of how incumbent-to-startup knowledge transfer takes place, such as entrepreneurs pursuing opportunities that their previous employers do not want to pursue, we explore with detailed qualitative analysis of six private startups in the Chinese synthetic-dye industry what type of knowledge actually flows and what type is more important for the long-term success of startups. We discover eight types of knowledge that flow from incumbents to new firms during the foundation of startups. Abstracting these eight types of knowledge into two general categories of functional knowledge and strategic knowledge, we find the reception of strategic (not functional) knowledge shapes the long-term competitiveness of surviving startups. Receiving technical knowledge – one type of functional knowledge – during the founding period is necessary for startups’ short-term survival but insufficient for long-term success. Our findings show that the performance implications of initial knowledge flows from incumbents hinge on the type of knowledge, contributing to a more explicit explanation of how incumbent-to-startup knowledge flows affect entrepreneurial performance. 摘要 现有的研究表明，从在位企业流向初创企业的知识对其创建及其后的绩效有密切关系。虽然很多研究聚焦于知识的流动机制，但很少探讨究竟有哪些知识从在位企业流向了初创企业，其中又有哪些知识对初创企业的长期成功更加重要。我们对中国合成染料行业的六家私营初创企业进行了探索性的定性分析，发现在其创建过程中，有八种知识从在位企业流入了初创企业。这八种知识又可以进一步抽象为职能知识和战略知识两大类。我们发现，对创建期后得以存活的初创企业而言，创建期内从在位企业处获取的战略知识（而不是职能知识）决定了其长期竞争力。在创建期内获取的技术知识（一种职能知识）虽然对初创企业的短期生存很有必要，但不足以支撑其长期成功。这表明，来自在位企业的初始知识流对初创企业绩效的影响事实上取决于知识的类型。本研究有助于更加清晰地解释来自在位企业的知识流如何影响初创企业的绩效。