EconPapers    
Economics at your fingertips  
 

Measuring the Spillovers of Venture Capital

Monika Schnitzer () and Martin Watzinger

No 12236, CEPR Discussion Papers from C.E.P.R. Discussion Papers

Abstract: We provide the first measurement of knowledge spillovers from venture capital-financed companies onto the patenting activities of other companies. On average, these spillovers are nine times larger than those generated by the R&D investment of established companies. Spillover effects are larger in complex product industries than in discrete product industries. Start-ups with experienced inventors holding a patent at the time of receiving the first round of investment produce the largest spillovers, indicating that venture capital fosters the commercialization of technologies. Methodologically, we contribute by developing a novel definition of the spillover pool, combining citation-based and technological proximity-based approaches.

Keywords: Venture capital; Spillovers; Innovation (search for similar items in EconPapers)
JEL-codes: G24 O3 O31 O32 (search for similar items in EconPapers)
Date: 2017-08
New Economics Papers: this item is included in nep-cse, nep-ent, nep-ino, nep-sbm and nep-ure
References: Add references at CitEc
Citations: View citations in EconPapers (6)

Downloads: (external link)
https://cepr.org/publications/DP12236 (application/pdf)
CEPR Discussion Papers are free to download for our researchers, subscribers and members. If you fall into one of these categories but have trouble downloading our papers, please contact us at subscribers@cepr.org

Related works:
Journal Article: Measuring the Spillovers of Venture Capital (2022) Downloads
Working Paper: Measuring the Spillovers of Venture Capital (2017) Downloads
Working Paper: Measuring the Spillovers of Venture Capital (2017) Downloads
Working Paper: Measuring Spillovers of Venture Capital (2014) Downloads
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:cpr:ceprdp:12236

Ordering information: This working paper can be ordered from
https://cepr.org/publications/DP12236

Access Statistics for this paper

More papers in CEPR Discussion Papers from C.E.P.R. Discussion Papers Centre for Economic Policy Research, 33 Great Sutton Street, London EC1V 0DX.
Bibliographic data for series maintained by ().

 
Page updated 2025-03-31
Handle: RePEc:cpr:ceprdp:12236