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

Author

Listed:
  • Stefano Breschi

    (Bocconi University)

  • Julie Lassébie

    (OECD)

  • Alexander C. Lembcke

    (OECD)

  • Carlo Menon

    (Laterite)

  • Caroline Paunov

    (OECD)

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.

Suggested Citation

  • Stefano Breschi & Julie Lassébie & Alexander C. Lembcke & Carlo Menon & Caroline Paunov, 2019. "Public research and innovative entrepreneurship: Preliminary cross-country evidence from micro data," OECD Science, Technology and Industry Policy Papers 64, OECD Publishing.
    • Handle: RePEc:oec:stiaac:64-en
    DOI: 10.1787/0d057da7-en
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    More about this item

    Keywords

    academic entrepreneurship; innovative entrepreneurship; knowledge transfer; public research; student entrepreneurship;
    All these keywords.

    JEL classification:

    • L26 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Entrepreneurship
    • O30 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - General

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