| Summary: | New technology based firms are effective not only changes in economic but also in institutional areas. These firms provide continuous technological innovations (creative entrepreneur in Schumpeterian sense) rather than the rationalization process that routinizes the entrepreneur in big firms. The aim of this study is to denote that the Schumpeterian analysis is appropriate framework for the new technology based firms and to introduce the effects of technological innovations of these firms both economic and institutional areas. This study is composed of two parts. In the first part, the basic characteristics of new technology based firms will be examined by the help of the literature. In the second part of the study, the appropriateness of the Schumpeterian framework for these firms will be displayed and Schumpeter's views on the process of capitalist development within the context of new technology based firms will be re-questioned
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