Human capital, intellectual capital, and government venture capital

Ikenna Uzuegbunam, Yin-Chi Liao, Luke Pittaway and G. Jason Jolley

Journal of Entrepreneurship and Public Policy, 2017, vol. 6, issue 3, 359-374

Abstract: Purpose - The purpose of this paper is to examine the impact of human and intellectual capital on start-ups’ attainment of government venture capital (GVC). It is theorized that as a result of government predisposition toward enhancing knowledge spillover and certifying underinvested start-ups, different types of human and intellectual capital possessed by start-ups will distinctly affect GVC funding. Design/methodology/approach - The Kauffman Firm Survey, a panel data set of 4,928 new US firms over a five-year period (2004-2008), serves as the data source. Ordinary least squares regression, coupled with generalized estimating equations to check for robustness, is used to determine the effect of human and intellectual capital on GVC funding. Findings - Founders’ educational attainment has a greater impact than their occupational experience in GVC funding. While the number of patents owned by the start-up increases GVC funding, the number of trademarks and copyrights negatively influence GVC funding. Originality/value - By distinguishing between different aspects of human and intellectual capital, this study provides a more nuanced understanding of the influence of new venture resources in the context of GVC.

Keywords: Human capital; Intellectual property rights; Patents; Copyrights; Government venture capital; Trademarks (search for similar items in EconPapers)
Date: 2017
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Persistent link: https://EconPapers.repec.org/RePEc:eme:jepppp:jepp-d-17-00008

DOI: 10.1108/JEPP-D-17-00008

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