T he international marketing literature has recently identified innovation ambidexterity as a funda- mental enabler of international success in high- performing firms (Atuahene-Gima and Murray 2007; Yalcinkaya, Calantone, and Griffith 2007). This follows the increasing diffusion of innovation ambidexterity studies evident in the mainstream marketing, tech- nology, and management literature. In the international context, ambidextrous firms are characterized as those that balance explorative (discovery-led) and exploitative (refinement-led) innovation activities in the inter- national marketplace. However, certain studies question the benefits of such ambidextrous or hybrid approaches in resource-deficient firms owing to a lack of slack resources needed to manage these seemingly incongru- ous behaviors (Kyriakopoulos and Moorman 2004; Thornhill and White 2007). Moreover, new ventures are Realizing Product-Market Advantage in High-Technology International New Ventures: The Mediating Role of Ambidextrous Innovation Mathew Hughes, Silvia L. Martin, Robert E. Morgan, and Matthew J. Robson ABSTRACT This study examines the pivotal role of ambidextrous innovation in the strategy–performance thesis of the export ven- tures of high-technology international new venture (INV) firms. To date, the literature on INVs has failed to consider ambidextrous innovation in the strategy interplay in approaching new markets overseas. Building on the resource-based view of the firm, the authors empirically examine the relationships among competitive strategy, innovation ambidexter- ity, positional advantage, and export venture performance. In the context of Mexican high-technology INVs, the authors find that innovation ambidexterity codetermines both marketing differentiation and cost leadership advantages, and together these link to export venture performance gains. The authors reveal that marketing differentiation and cost leadership strategies positively influence differentiation and cost advantages, respectively. They observe hybrid strategy to influence marketing differentiation advantage inversely. Moreover, marketing differentiation strategy alone is impor- tant in driving innovation ambidexterity. The study findings have important implications for research on international marketing, new venture decision making, and overseas expansion strategies. Keywords: innovation, market strategy, ambidexterity, international new ventures, export performance Journal of International Marketing ©2010, American Marketing Association Vol. 18, No. 4, 2010, pp. 1–21 ISSN 1069-0031X (print) 1547-7215 (electronic) High-Technology International New Ventures 1 Mathew Hughes is Associate Professor in Entrepreneurship & Innovation, Nottingham University Business School, Univer- sity of Nottingham (e-mail: mat.hughes@nottingham.ac.uk). Silvia L. Martin is Assistant Professor of Business and Marketing, School of Business and Economics, Lynchburg College (e-mail: Lozano.S@lynchburg.edu). Robert E. Morgan is Department Chair and holds the Sir Julian Hodge Professorship in Marketing and Strategy, Cardiff Business School, Cardiff University (e-mail: morganre@cardiff.ac.uk). Matthew J. Robson is Professor of Marketing, Leeds Univer- sity Business School, University of Leeds (e-mail: mjro@lubs.leeds.ac.uk).