Economics at your fingertips  

Patent-based investment funds: from invention to innovation

Svenja Jarchow () and Andrea Röhm
Additional contact information
Svenja Jarchow: Technical University of Munich
Andrea Röhm: Technical University of Munich

The Journal of Technology Transfer, 2019, vol. 44, issue 2, No 5, 404-433

Abstract: Abstract In the context of entrepreneurial ecosystems the transformation of inventions to innovations is a crucial measure of success. Yet, the exploitation of inventions stemming from academic or corporate research is not as extensive as we would wish leaving room for improvements. Drawing on the knowledge spillover theory of entrepreneurship we investigate the phenomenon of patent-based investment funds as a new type of intermediary in the knowledge spillover process, which could facilitate the transformation from invention to innovation. Using a qualitative research design we analyze data from 21 expert interviews and complementary archival data. We find common characteristics of funds’ activities which decrease knowledge filters and fill the financing gap in the early stages of technology development. We propose a classification of commercialization strategies and link them to a specific set of invention characteristics. Our insights contribute to the knowledge spillover theory of entrepreneurship and to the knowledge filter model by providing empirical evidence for the division of labor between knowledge creator and commercialization agent. This adds to our view on entrepreneurial ecosystems as we shed light on different players in the transition process from invention to innovation and thus enhance our understanding of the multifaceted aspects in such an ecosystem. In addition, we refine the literature on patent-based investment funds by providing a classification of the entire commercialization spectrum used by funds and add to extant theorizing on how the nature of a technology determines its commercialization.

Keywords: Patent-based investment funds; Technology intermediaries; Knowledge spillover theory of entrepreneurship; Invention characteristics (search for similar items in EconPapers)
JEL-codes: G23 M13 O32 O34 (search for similar items in EconPapers)
Date: 2019
References: View references in EconPapers View complete reference list from CitEc
Citations: Track citations by RSS feed

Downloads: (external link) Abstract (text/html)
Access to full text is restricted to subscribers.

Related works:
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:

Ordering information: This journal article can be ordered from
http://www.springer. ... nt/journal/10961/PS2

DOI: 10.1007/s10961-018-9691-3

Access Statistics for this article

The Journal of Technology Transfer is currently edited by Albert N. Link, Donald S. Siegel, Barry Bozeman and Simon Mosey

More articles in The Journal of Technology Transfer from Springer
Bibliographic data for series maintained by Sonal Shukla ().

Page updated 2020-04-23
Handle: RePEc:kap:jtecht:v:44:y:2019:i:2:d:10.1007_s10961-018-9691-3