Autio (1995) argues that technology is critical because it can vary considerably in terms of the degree of technological intensity associated with the venture. Where the venture is involved in the creation of new knowledge, the degree of technological intensity will be much higher than if it is concerned with the production of new artefacts, using existing knowledge, but perhaps in a new and as yet untried application. Autio levels the degree of technological intensity as ‘technological novelty’, which ranges from established to breakthrough. The latter implies the creation of new artifact. Autio (1995) observes that knowledge-creation activities are much more likely to be associated with science-based firms, while artifact-creation activities he suggests are likely to be associated with engineering firms involved in manufacturing, perhaps as specialist suppliers of components.