Growth orientation is important for understanding why some young firms grow but not others, but research remains silent on the intermediary mechanisms mediating the growth orientation-firm growth relationship. We study 282 Swedish firms and show that various innovative activities mediate the growth orientation-firm growth relationship. These mediating innovative activities include informal activities and the launch of new products, but not formal Ramp;D. Our findings offer a more complete explanation for how growth orientation translates into realized growth, serving to reconcile empirical inconsistencies about the relationship between innovation and young firm growth.