Whether in the fields of drones, quantum computing, artificial intelligence, or additive manufacturing, both governments and firms are required to navigate the uncertainties associated with these new technologies to achieve their shared high-growth ambitions. This dissertation explores the institutional and innovation strategies that firms consider when governments regulate technology features in such nascent markets. This research looks at a global emerging market with multiple combinations of product features—the global commercial drone industry. Through this empirical context, this dissertation addresses three distinct questions:(1) how does government institutional support impact firm establishment?(2) how do institutional carriers impact the experimentation of product features?(3) how do regulatory standard changes impact the framing of new products?