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Translational research: from basic research to regional biomedical entrepreneurship

Author

Listed:
  • Sang-Min Park

    (Sejong Finance Center II)

  • Nicholas S. Vonortas

    (George Washington University
    São Paulo Excellence Chair, University of Campinas)

Abstract

This paper examines the effect of translational research on knowledge production and biomedical entrepreneurship across U.S. regions. Researchers have earlier investigated the outputs of translational research by focusing on academic publications. Little attention has been paid to linking translational research to biomedical entrepreneurship. We construct an analytical model based on the knowledge spillover theory of entrepreneurship and the entrepreneurial ecosystem approach to examine the relationship between translational research, biomedical patents, clinical trials, and biomedical entrepreneurship. We test the model across 381 U.S. metropolitan statistical areas using 10 years of panel data related to the NIH Clinical and Translational Science Awards (CTSA) program. CTSA appears to increase the number of biomedical patents and biomedical entrepreneurship as proxied by the NIH Small Business Innovation Research (SBIR) grants. However, the magnitudes of the effects are relatively small. Path analysis shows that the effect of translational research on regional biomedical entrepreneurship is not strongly conveyed through biomedical patents or clinical trials.

Suggested Citation

  • Sang-Min Park & Nicholas S. Vonortas, 2023. "Translational research: from basic research to regional biomedical entrepreneurship," Small Business Economics, Springer, vol. 60(4), pages 1761-1783, April.
    • Handle: RePEc:kap:sbusec:v:60:y:2023:i:4:d:10.1007_s11187-022-00676-9
    DOI: 10.1007/s11187-022-00676-9
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    More about this item

    Keywords

    Translational research; CTSA; Biomedical; SBIR; Entrepreneurship; Ecosystem;
    All these keywords.

    JEL classification:

    • L26 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Entrepreneurship
    • O31 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives
    • R11 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Regional Economic Activity: Growth, Development, Environmental Issues, and Changes
    • L65 - Industrial Organization - - Industry Studies: Manufacturing - - - Chemicals; Rubber; Drugs; Biotechnology; Plastics

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