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Patenting and business outcomes for cleantech startups funded by the Advanced Research Projects Agency-Energy

Author

Listed:
  • Anna Goldstein

    (University of Massachusetts Amherst
    Harvard University)

  • Claudia Doblinger

    (Technical University of Munich)

  • Erin Baker

    (University of Massachusetts Amherst)

  • Laura Díaz Anadón

    (Harvard University
    University of Cambridge)

Abstract

Innovation to reduce the cost of clean technologies has large environmental and societal benefits. Governments can play an important role in helping cleantech startups innovate and overcome risks involved in technology development. Here we examine the impact of the US Advanced Research Projects Agency-Energy (ARPA-E) on two outcomes for startup companies: innovation (measured by patenting activity) and business success (measured by venture capital funding raised, survival, and acquisition or initial public offering). We compare 25 startups funded by ARPA-E in 2010 to rejected ARPA-E applicants, startups funded by a related government programme and other comparable cleantech startups. We find that ARPA-E awardees have a strong innovation advantage over all the comparison groups. However, while we find that ARPA-E awardees performed better than rejected applicants in terms of post-award business success, we do not detect significant differences compared to other cleantech startups. These findings suggest that ARPA-E was not able to fully address the ‘valley of death’ for cleantech startups within 10–15 yr after founding.

Suggested Citation

  • Anna Goldstein & Claudia Doblinger & Erin Baker & Laura Díaz Anadón, 2020. "Patenting and business outcomes for cleantech startups funded by the Advanced Research Projects Agency-Energy," Nature Energy, Nature, vol. 5(10), pages 803-810, October.
    • Handle: RePEc:nat:natene:v:5:y:2020:i:10:d:10.1038_s41560-020-00683-8
    DOI: 10.1038/s41560-020-00683-8
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    Cited by:

    1. Harilal Krishna & Yash Kashyap & Dwarkeshwar Dutt & Ambuj D. Sagar & Abhishek Malhotra, 2023. "Understanding India’s low-carbon energy technology startup landscape," Nature Energy, Nature, vol. 8(1), pages 94-105, January.
    2. David Popp & Francesco Vona & Myriam Grégoire-Zawilski & Giovanni Marin, 2024. "The Next Wave of Energy Innovation: Which Technologies? Which Skills?," Review of Environmental Economics and Policy, University of Chicago Press, vol. 18(1), pages 45-65.
    3. Aldy, Joseph E., 2022. "Learning How to Build Back Better through Clean Energy Policy Evaluation," RFF Working Paper Series 22-15, Resources for the Future.
    4. Nelson, Sarah & Allwood, Julian M., 2021. "The technological and social timelines of climate mitigation: Lessons from 12 past transitions," Energy Policy, Elsevier, vol. 152(C).
    5. Matthias van den Heuvel & David Popp, 2022. "The Role of Venture Capital and Governments in Clean Energy: Lessons from the First Cleantech Bubble," CESifo Working Paper Series 9684, CESifo.
    6. van den Heuvel, Matthias & Popp, David, 2023. "The role of venture capital and governments in clean energy: lessons from the first cleantech bubble," Energy Economics, Elsevier, vol. 124(C).
    7. Adewale A. Adesanya, 2021. "Can Michigan’s Upper Peninsula Achieve Justice in Transitioning to 100% Renewable Electricity? Survey of Public Perceptions in Sociotechnical Change," Sustainability, MDPI, vol. 13(1), pages 1-25, January.
    8. Paul X. McCarthy & Xian Gong & Fabian Stephany & Fabian Braesemann & Marian-Andrei Rizoiu & Margaret L. Kern, 2023. "The Science of Startups: The Impact of Founder Personalities on Company Success," Papers 2302.07968, arXiv.org.

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