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Biomedical academic entrepreneurship through the SBIR program

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  • Toole, Andrew A.
  • Czarnitzki, Dirk

Abstract

This paper considers the U.S. Small Business Innovation research (SBIR) program as a policy fostering academic entrepreneurship. We highlight two main characteristics of the program that make it attractive as an entrepreneurship policy: early-stage financing and scientist involvement in commercialization. Using unique data on NIH supported biomedical researchers, we trace the incidence of biomedical entrepreneurship through SBIR and describe some of the characteristics of these individuals. To explore the importance of early-stage financing and scientist involvement, we complement our individual level data with information on scientist-linked and non-linked SBIR firms. Our results show that the SBIR program is being used as a commercialization channel by academic scientists. Moreover, we find that the firms associated with these scientists perform significantly better than other non-linked SBIR firms in terms of follow-on venture capital funding, SBIR program completion, and patenting.

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Bibliographic Info

Article provided by Elsevier in its journal Journal of Economic Behavior & Organization.

Volume (Year): 63 (2007)
Issue (Month): 4 (August)
Pages: 716-738

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Handle: RePEc:eee:jeborg:v:63:y:2007:i:4:p:716-738

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References

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Citations

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Cited by:
  1. Schneider, Cédric & Hussinger, Katrin & Czarnitzki, Dirk, 2008. "Commercializing Academic Research: The Quality of Faculty Patenting," ZEW Discussion Papers 08-069, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research.
  2. Jue Wang & Philip Shapira, 2012. "Partnering with universities: a good choice for nanotechnology start-up firms?," Small Business Economics, Springer, vol. 38(2), pages 197-215, February.
  3. Paula Stephan & Asmaa El-Ganainy, 2007. "The entrepreneurial puzzle: explaining the gender gap," The Journal of Technology Transfer, Springer, vol. 32(5), pages 475-487, October.
  4. Davood TANHA & Aidin SALAMZADEH & Zahra ALLAHIAN & Yashar SALAMZADEH, 2011. "Commercialization of University Research and Innovations in Iran: Obstacles and Solutions," Journal of Knowledge Management, Economics and Information Technology, ScientificPapers.org, vol. 1(7), pages 20, December.
  5. Nicola Lacetera, 2009. "Academic entrepreneurship," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 30(7), pages 443-464.
  6. Zhang, Junfu, 2007. "A Study of Academic Entrepreneurs Using Venture Capital Data," IZA Discussion Papers 2992, Institute for the Study of Labor (IZA).
  7. Anna Nilsson & Annika Rickne & Lars Bengtsson, 2010. "Transfer of academic research: uncovering the grey zone," The Journal of Technology Transfer, Springer, vol. 35(6), pages 617-636, December.
  8. 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.
  9. Dirk Czarnitzki & Katrin Hussinger & Cédric Schneider, 2012. "The nexus between science and industry: evidence from faculty inventions," The Journal of Technology Transfer, Springer, vol. 37(5), pages 755-776, October.
  10. Toole, Andrew A. & Czarnitzki, Dirk, 2007. "Life Scientist Mobility from Academe to Industry: Does Academic Entrepreneurship Induce a Costly ?Brain Drain? on the Not-for-Profit Research Sector?," ZEW Discussion Papers 07-072, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research.
  11. Andrew Toole & Calum Turvey, 2009. "How does initial public financing influence private incentives for follow-on investment in early-stage technologies?," The Journal of Technology Transfer, Springer, vol. 34(1), pages 43-58, February.
  12. Haifeng Qian & Kingsley Haynes, 2014. "Beyond innovation: the Small Business Innovation Research program as entrepreneurship policy," The Journal of Technology Transfer, Springer, vol. 39(4), pages 524-543, August.
  13. 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.
  14. Amanor-Boadu, Vincent & Metla, Chandra Mohan Reddy, 2008. "Research Faculty, Entrepreneurship and Commercialization: The Case of Kansas State University," 2008 Annual Meeting, February 2-6, 2008, Dallas, Texas 6741, Southern Agricultural Economics Association.
  15. Czarnitzki, Dirk & Rammer, Christian & Toole, Andrew A., 2013. "University spinoffs and the 'performance premium'," ZEW Discussion Papers 13-004, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research.
  16. David B. Audretsch & Taylor Aldridge & Alexander Oettl, 2006. "The Knowledge Filter and Economic Growth: The Role of Scientist Entrepreneurship," Papers on Entrepreneurship, Growth and Public Policy 2006-11, Max Planck Institute of Economics, Entrepreneurship, Growth and Public Policy Group.
  17. Heisey, Paul W. & Day-Rubenstein, Kelly A. & King, John L., 2006. "Government Patenting And Technology Transfer," Economic Research Report 33597, United States Department of Agriculture, Economic Research Service.
  18. Krabel, Stefan & Mueller, Pamela, 2009. "What drives scientists to start their own company?: An empirical investigation of Max Planck Society scientists," Research Policy, Elsevier, vol. 38(6), pages 947-956, July.

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