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

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 st...

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Bibliographic Details
Main Authors: Breschi, Stefano, Lassébie, Julie, Lembcke, Alexander C, Menon, Carlo, Paunov, Caroline
Format: Government Document
Language:English
Subjects:
academic entrepreneurship
innovative entrepreneurship
knowledge transfer
public research
student entrepreneurship
Online Access:Get full text
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Summary: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.
ISSN:2307-4957
DOI:10.1787/0d057da7-en