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  • Knowledge Spillover Entrepreneurship & Innovation: The Role of Universities David B. Audretsch

  • The Traditional University

    The Humboldt Model (Wilhelm von Humboldt, 1767-1835)

    Freedom & independence of research & teaching

    knowledge for its own sake

    Little valuation for engagement & societal impact

  • Role of University in the Solow Economy

    Limited contribution for investment in physical capital

    Limited link to (exogenous) knowledge

    Contribution in terms of social and political values

    Limited contribution to economic development

  • Role of University in the Romer Economy

    Competitiveness Crisis of 1970s

    Comparative advantages shifts from physical capital of knowledge

    University is source of knowledge

    University financial shortfall

    Demand oriented

  • The Knowledge Filter

    A wealth of scientific talent at American colleges and universities talent responsible for the development of numerous innovative scientific breakthroughs each year is going to waste as a result of bureaucratic red tape and illogical government regulationsWhat sense does it make to spend billions of dollars each year on government-supported research and then prevent new developments from benefiting the American people because of dumb bureaucratic red tape? U.S. Senator Birch Bayh, 1980

  • The Bayh-Dole Act of 1980

    Penetrate the Knowledge Filter Creation of the Technology Transfer Office (TTO) Most studies analyzing commercialization of

    university research limited to measures of what the TTO does

    Intellectual property disclosed to and registered by TTO may lead to systematic underestimation of commercialization and innovation emantating from university research (Thursby & Thursby, 2005; Shane, 2004)

  • Emergence of Entrepreneurial University Facilitate knowledge spillovers from university

    University as solution provider user oriented fields and programs (i.e. biochemistry, informatics)

    Demand orientation rather than knowledge for its own sake

    Provision of conduits for knowledge spillovers technology transfer offices, incubators, science parks, sponsored research

    --(Shiri M. Breznitz and Maryann P. Feldman, The Engaged University, Journal of Technology Transfer, 2012)

  • Entrepreneurial University

    X

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  • University Patents as a Share of All Patents with Domestic Assignees

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  • Distribution of University Patents

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    Number of patents issued from 1998 to 2008

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  • Disappointing Assessment of Technology Transfer

  • Paucity of University Entrepreneurship?

    AUTM reports annual mean of 426 startups from U.S. Universities

    MIT TTO reported 29 startups

    Stanford TTO reported 6 startups

    Based on AUTM data, one startup generated per $368 million of R&D

  • Has Knowledge Spillover Entrepreneurship from Universities been Underestimated?

    Most studies analyzing commercialization of university research limited to measures of what the TTO does

    Intellectual property disclosed to and registered by TTO may lead to systematic underestimation of commercialization and innovation emantating from university research (Thursby & Thursby, 2002, Who Is Selling the Ivory Tower? Management Science; Shane, 2004, Technological Opportunities and New Firm Creation, Management Science)

  • Technology Transfer Office Mission Statements

    Primary objectives of the UTTO Percentage of times appeared

    in mission statement (%)

    Licensing for royalties 78.72

    IP protection/management 75.18

    Facilitate disclosure process 71.63

    Sponsored research and assisting inventors 56.74

    Public good (disseminate information/technology 54.61

    Industry relationships 42.55

    Economic development (region, state) 26.95

    Entrepreneurship and new venture creation 20.57

    N = 128 TTOs.

    Source: G. Markman, P. Phan, D. Balkin & P. Gianiodis, Entrepreneurship and University-Based Technology Transfer, Journal of Business Venturing, 2005

  • Making the switch from science to business Nature

  • Measuring Knowledge Spillover Entrepreneurship from Universities

    16,693 scientists awarded National Cancer

    Institute (NCI) grant, 1998-2002 (top 20%)

    $5,350 million NCI grant awards

    NCI awards matched to patents

    398 distinct patentees, (1,204 patents), 1998-2004

    1 in 4 scientists started new business

    Aldridge & Audretsch, The Bayh-Dole Act and Scientist Entrepreneurship, Research Policy, 2011.

  • Knowledge Spillover Entrepreneurship from Unviersities Measurement of scientist entrepreneurship by

    AUTM & university TTOs may underestimate extent of scientist entrepreneurship

    Based on AUTM data, one startup generated per $368 million of R&D

    Aldridge & Audretsch (Research Policy, 2011) implies one startup generated per $12 million of R&D

  • Limitations of Previous Research on University Knowledge Spillover Entrepreneurship Limited to a single field of science cancer research

    Limited to the highest performing scientists

    Unanswered questions

    To what extent is the high rate of entrepreneurial activity exhibited by the high performing cancer research scientists prevalent across different types of scientific fields for different types of scientists?

    -- To what extent do the main determinants of scientist entrepreneurship hold across different scientific fields & heterogeneous types of scientists?

  • Purpose of Paper

    Ask What Scientists Do & Not What the TTO Does to Commercialize Research

    Move Beyond Traditional Individual-Specific Characteristics in Explaining Propensity for Scientist to Engage in Entrepreneurship

    Move Beyond University Characteristics in Explaining Scientist Commercialization

    Why & How Do Scientists Become Entrepreneurs?

  • Creating a Scientist Entrepreneurship Database Web of knowledge database contained email addresses of

    9361 scientists that received NSF funding between 2005 and 2012-Q2.

    Online survey questionnaire directed to the entire population of 9361 scientists in the first round of survey administration

    30 scientists were on sabbatical, 9 scientists were inactive, and email addresses of 172 scientists were returned since they were incorrect/incomplete.

    Survey sample of 9150 scientists (97.75 percent of the population

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