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The timing of incumbent firms' adoption of emerging radical technologies has important implications for firms and industries as well as for technological progress. Much is known about factors that lead to successful innovation or adaption to radical technological change, yet little empirical research has examined factors that distinguish between incumbents that choose to be early adopters versus those who do not. From a survey of key informants in firms facing emerging radical technologies, we compare early adopters versus other firms on variables related to learning capacity and technological capabilities. Findings suggest that early adopters possess greater pre-exploitative learning capabilities that enable faster and more effective issue interpretation. Early adopters also perceive they possess greater technological knowledge and commercialisation flexibility advantages over rivals that motivate early adoption …