“…Knowledge refers to the credible information, which has the potential to create value to an organization (Tomas and Hult, 2003). In new technology ventures, the ability to adapt and update knowledge is critical to innovation (Coombs and Hull (1998); Liao and Wu, 2010;Li, 2012;Li et al, 2013). Based on the RBV (Barney, 1991) and KBV (Kogut and Zander, 1992;Conner and Prahalad, 1996;Grant, 1996aGrant, , 1996b, knowledge includes technology knowledge, which refers to the businessrelevant knowledge about products, technologies and/or processes the new venture possesses (Burgers et al, 2008), and market knowledge, which describes the business-relevant knowledge about potential customers, distribution channels and how the market functions (Feng et al, 2003;Burgers et al, 2008).…”