IDEAS home Printed from https://ideas.repec.org/a/kap/jtecht/v37y2012i4p404-415.html
   My bibliography  Save this article

Universities and the success of entrepreneurial ventures: evidence from the small business innovation research program

Author

Listed:
  • Donald Siegel
  • Charles Wessner

Abstract

There has been little direct, systematic empirical analysis of the role that universities play in enhancing the success of entrepreneurial ventures. We attempt to fill this gap by analyzing data from the US SBIR program, a “set-aside” program that requires key federal agencies (e.g., Department of Defense) to allocate 2.5% of their research budget to small firms that attempt to commercialize new technologies. Based on estimation of Tobit and negative binomial regressions of the determinants of commercial success, we find that start-ups with closer ties to universities achieve higher levels of performance. Copyright Springer Science+Business Media, LLC 2012

Suggested Citation

  • Donald Siegel & Charles Wessner, 2012. "Universities and the success of entrepreneurial ventures: evidence from the small business innovation research program," The Journal of Technology Transfer, Springer, vol. 37(4), pages 404-415, August.
    • Handle: RePEc:kap:jtecht:v:37:y:2012:i:4:p:404-415
    DOI: 10.1007/s10961-010-9186-3
    as

    Download full text from publisher

    File URL: http://hdl.handle.net/10.1007/s10961-010-9186-3
    Download Restriction: Access to full text is restricted to subscribers.
    File URL: https://libkey.io/10.1007/s10961-010-9186-3?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to look for a different version below or search for a different version of it.

    Other versions of this item:

    References listed on IDEAS

    as
    1. David B. Audretsch & Albert N. Link & John T. Scott, 2013. "Public/private technology partnerships: evaluating SBIR-supported research," Chapters, in: Public Support of Innovation in Entrepreneurial Firms, chapter 5, pages 91-104, Edward Elgar Publishing.
    2. G. M.P. Swann, 2009. "The Economics of Innovation," Books, Edward Elgar Publishing, number 13211.
    3. Frank T. Rothaermel & Shanti D. Agung & Lin Jiang, 2007. "University entrepreneurship: a taxonomy of the literature," Industrial and Corporate Change, Oxford University Press and the Associazione ICC, vol. 16(4), pages 691-791, August.
    4. Albert N. Link & Christopher J. Ruhm, 2013. "Public knowledge, private knowledge: the intellectual capital of entrepreneurs," Chapters, in: Public Support of Innovation in Entrepreneurial Firms, chapter 7, pages 113-126, Edward Elgar Publishing.
    5. Albert N. Link & Christopher J. Ruhm, 2013. "Bringing science to market:commercializing from NIH SBIR awards," Chapters, in: Public Support of Innovation in Entrepreneurial Firms, chapter 1, pages 3-24, Edward Elgar Publishing.
    6. Albert N. Link & John T. Scott, 2013. "Governments as entrepreneur: Evaluating the commercialization success of SBIR projects," Chapters, in: Public Support of Innovation in Entrepreneurial Firms, chapter 2, pages 25-38, Edward Elgar Publishing.
    7. Scott Shane & Toby Stuart, 2002. "Organizational Endowments and the Performance of University Start-ups," Management Science, INFORMS, vol. 48(1), pages 154-170, January.
    8. Colombo, Massimo G. & Grilli, Luca, 2005. "Founders' human capital and the growth of new technology-based firms: A competence-based view," Research Policy, Elsevier, vol. 34(6), pages 795-816, August.
    9. Albert N. Link & John T. Scott, 2013. "Private Investor Participation and Commercialization Rates for Government-sponsored Research and Development: Would a Prediction Market Improve the Performance of the SBIR Programme?," Chapters, in: Public Support of Innovation in Entrepreneurial Firms, chapter 11, pages 157-174, Edward Elgar Publishing.
    10. O'Shea, Rory P. & Allen, Thomas J. & Chevalier, Arnaud & Roche, Frank, 2005. "Entrepreneurial orientation, technology transfer and spinoff performance of U.S. universities," Research Policy, Elsevier, vol. 34(7), pages 994-1009, September.
    11. Lerner, Josh, 1999. "The Government as Venture Capitalist: The Long-Run Impact of the SBIR Program," The Journal of Business, University of Chicago Press, vol. 72(3), pages 285-318, July.
    12. Marie Thursby & Richard Jensen, 2001. "Proofs and Prototypes for Sale: The Licensing of University Inventions," American Economic Review, American Economic Association, vol. 91(1), pages 240-259, March.
    13. Scott Shane, 2002. "Selling University Technology: Patterns from MIT," Management Science, INFORMS, vol. 48(1), pages 122-137, January.
    14. Zucker, Lynne G & Darby, Michael R, 2001. "Capturing Technological Opportunity via Japan's Star Scientists: Evidence from Japanese Firms' Biotech Patents and Products," The Journal of Technology Transfer, Springer, vol. 26(1-2), pages 37-58, January.
    15. Rod Shrader & Donald S. Siegel, 2007. "Assessing the Relationship between Human Capital and Firm Performance: Evidence from Technology–Based New Ventures," Entrepreneurship Theory and Practice, , vol. 31(6), pages 893-908, November.
    16. Zucker, Lynne G & Darby, Michael R & Armstrong, Jeff, 1998. "Geographically Localized Knowledge: Spillovers or Markets?," Economic Inquiry, Western Economic Association International, vol. 36(1), pages 65-86, January.
    17. Di Gregorio, Dante & Shane, Scott, 2003. "Why do some universities generate more start-ups than others?," Research Policy, Elsevier, vol. 32(2), pages 209-227, February.
    18. Zucker, Lynne G & Darby, Michael R & Brewer, Marilynn B, 1998. "Intellectual Human Capital and the Birth of U.S. Biotechnology Enterprises," American Economic Review, American Economic Association, vol. 88(1), pages 290-306, March.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Markus A. Kirchberger & Larissa Pohl, 2016. "Technology commercialization: a literature review of success factors and antecedents across different contexts," The Journal of Technology Transfer, Springer, vol. 41(5), pages 1077-1112, October.
    2. Toole, Andrew A. & Czarnitzki, Dirk, 2007. "Biomedical academic entrepreneurship through the SBIR program," Journal of Economic Behavior & Organization, Elsevier, vol. 63(4), pages 716-738, August.
    3. Christopher S. Hayter, 2013. "Harnessing University Entrepreneurship for Economic Growth," Economic Development Quarterly, , vol. 27(1), pages 18-28, February.
    4. Samantha Bradley & Christopher Hayter & Albert Link, 2013. "Proof of Concept Centers in the United States: an exploratory look," The Journal of Technology Transfer, Springer, vol. 38(4), pages 349-381, August.
    5. Foray, Dominique & Lissoni, Francesco, 2010. "University Research and Public–Private Interaction," Handbook of the Economics of Innovation, in: Bronwyn H. Hall & Nathan Rosenberg (ed.), Handbook of the Economics of Innovation, edition 1, volume 1, chapter 0, pages 275-314, Elsevier.
    6. David B. Audretsch & Dennis P. Leyden & Albert N. Link, 2013. "Regional Appropriation of University-Based Knowledge and Technology for Economic Development," Economic Development Quarterly, , vol. 27(1), pages 56-61, February.
    7. Navid Bazzazian & Thomas Astebro, 2011. "Universities, Entrepreneurship and Local Economic Development," ERSA conference papers ersa10p822, European Regional Science Association.
    8. Reinhilde Veugelers, 2014. "The Contribution of Academic Research to Innovation and Growth. WWWforEurope Working Paper No. 71," WIFO Studies, WIFO, number 50856.
    9. Richard Jensen, 2012. "University Startups and Entrepreneurship: New Data, New Results," Working Papers 009, University of Notre Dame, Department of Economics, revised Jul 2012.
    10. Wipo, 2011. "World Intellectual Property Report 2011- The Changing Face of Innovation," WIPO Economics & Statistics Series, World Intellectual Property Organization - Economics and Statistics Division, number 2011:944, April.
    11. Amol M. Joshi & Todd M. Inouye & Jeffrey A. Robinson, 2018. "How does agency workforce diversity influence Federal R&D funding of minority and women technology entrepreneurs? An analysis of the SBIR and STTR programs, 2001–2011," Small Business Economics, Springer, vol. 50(3), pages 499-519, March.
    12. Michael Fritsch & Stefan Krabel, 2012. "Ready to leave the ivory tower?: Academic scientists’ appeal to work in the private sector," The Journal of Technology Transfer, Springer, vol. 37(3), pages 271-296, June.
    13. Albert N. Link & Christopher J. Ruhm & Donald S. Siegel, 2014. "Private Equity and the Innovation Strategies of Entrepreneurial Firms: Empirical Evidence from the Small Business Innovation Research Program," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 35(2), pages 103-113, March.
    14. Rasmussen, Einar & Borch, Odd Jarl, 2010. "University capabilities in facilitating entrepreneurship: A longitudinal study of spin-off ventures at mid-range universities," Research Policy, Elsevier, vol. 39(5), pages 602-612, June.
    15. Aurora A. C. Teixeira & Luisa Mota, 2012. "A bibliometric portrait of the evolution, scientific roots and influence of the literature on university–industry links," Scientometrics, Springer;Akadémiai Kiadó, vol. 93(3), pages 719-743, December.
    16. Paolo Gubitta & Alessandra Tognazzo & Federica Destro, 2016. "Signaling in academic ventures: the role of technology transfer offices and university funds," The Journal of Technology Transfer, Springer, vol. 41(2), pages 368-393, April.
    17. Manuel Portugal Ferreira & Nuno R. Reis & Roberta M. Paula & Claudia Frias Pinto, 2017. "Structural and longitudinal analysis of the knowledge base on spin-off research," Scientometrics, Springer;Akadémiai Kiadó, vol. 112(1), pages 289-313, July.
    18. Anne Miner & Yan Gong & Michael Ciuchta & Anthony Sadler & John Surdyk, 2012. "Promoting university startups: international patterns, vicarious learning and policy implications," The Journal of Technology Transfer, Springer, vol. 37(2), pages 213-233, April.
    19. Einar Rasmussen & Paul Benneworth & Magnus Gulbrandsen, 2013. "Scoping paper: Developing University Innovation Capacity: How can innovation policy effectively harness universities’ capability to promote high-growth technology businesses?," Working Papers on Innovation Studies 20131007, Centre for Technology, Innovation and Culture, University of Oslo.
    20. Andrew A. Toole & Dirk Czarnitzki, 2009. "Exploring the Relationship Between Scientist Human Capital and Firm Performance: The Case of Biomedical Academic Entrepreneurs in the SBIR Program," Management Science, INFORMS, vol. 55(1), pages 101-114, January.

    More about this item

    Keywords

    University technology transfer; Small business innovation research program (SBIR); Commercialization; Entrepreneurship; M13; O31; O32; O38;
    All these keywords.

    JEL classification:

    • M13 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - New Firms; Startups
    • O31 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives
    • O32 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Management of Technological Innovation and R&D
    • O38 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Government Policy

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:kap:jtecht:v:37:y:2012:i:4:p:404-415. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.