The Content Features of New Technology-Based Firms

New Technology-Based Firms (NTBFs) have significant contribution to economic growth, and in particular to promote innovation and job creation. For this reason, many countries are seeking to establish and grow such institutions with encouraging policies. Despite the economic importance of these companies, there is no single definition for them, and several definitions for these types of companies are tailored to the purpose of each study. Because of the nature of the need to produce a coherent framework for the characteristics of these types of companies, it is important that the purpose of the present study is to identify the features of the NTBFs. For this purpose, the research works that covered the nature of this concept from 1990 to 2011 were analyzed by content analysis. In the first phase, definitions of these companies were compiled, and further identification of the effective nature of these companies was identified. The results of this research led to the identification, confirmation and prioritization of the five features that include being new, advanced technology, independence, small size in terms of number of employees and volume of sales and funding by the founders, which according to the most frequent characteristics of the articles in question were prioritized. The final result of this study is to guide and streamline future research by achieving theoretical coherence in defining this concept.