Public research and innovative entrepreneurship: Preliminary cross-country evidence from micro data

Stefano Breschi, Julie Lassébie, Alexander Lembcke, Carlo Menon (carlomenon@gmail.com) and Caroline Paunov
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Stefano Breschi: Bocconi University

No 64, OECD Science, Technology and Industry Policy Papers from OECD Publishing

Abstract: This paper provides a first assessment of the degree to which public research contributes to innovative entrepreneurship, using data on start-ups and venture capital (VC). It looks at academic start-ups founded by recent undergraduates and doctorate students or researchers. It shows that academic start-ups represent 15% of all start-ups in the specific sample under scrutiny. Their share is higher in science-based technological fields such as biotechnology (23%). Across the majority of countries and technology fields, start-ups created by undergraduate students represent the highest share of all academic start-ups. As to their performance, start-ups founded by researchers are more likely to patent and those founded by students introduce innovations that are more radical compared to other start-ups. While start-ups founded by undergraduate students receive less VC funding and are less likely to exit via IPO or acquisition, those created by researchers are as successful as their non-academic counterparts.

Keywords: academic entrepreneurship; innovative entrepreneurship; knowledge transfer; public research; student entrepreneurship (search for similar items in EconPapers)
JEL-codes: L26 O30 (search for similar items in EconPapers)
Date: 2019-03-28
New Economics Papers: this item is included in nep-cse, nep-ent and nep-ino
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Persistent link: https://EconPapers.repec.org/RePEc:oec:stiaac:64-en

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