Demand vs. Supply Driven Innovations: US and Swedish Experiences in Academic Entrepreneurship
AbstractMeasured by per-capita publication measures, Sweden is an academic powerhouse. Hence, its inability to commercialize on these accomplishments is a puzzle. This paper attributes this failure to the top-down nature of Swedish policies aimed at commercializing these innovations as well as an academic environment that discourages academics from actively participating in the commercialization of their ideas. This sits in stark contrast to the US institutional setting that is characterized by competition between universities for research funds and research personnel, which in turn has led to significant academic freedoms to interact with industry, particularly by founding new firms. We conclude that the technocratic, supply-driven nature of attempts to exploit academic output in Sweden has been markedly less successful than the demand-driven market institutions in the US.
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Bibliographic InfoPaper provided by Stockholm School of Economics in its series Working Paper Series in Economics and Finance with number 0436.
Length: 21 pages
Date of creation: 27 Feb 2001
Date of revision:
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Postal: The Economic Research Institute, Stockholm School of Economics, P.O. Box 6501, 113 83 Stockholm, Sweden
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More information through EDIRC
Academic entrepreneurship; Innovation; R&D; Spin-off firms; Technology transfer; University-industry relations; Universities and business formation;
Find related papers by JEL classification:
- J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity
- O31 - Economic Development, Technological Change, and Growth - - Technological Change; Research and Development; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives
- O32 - Economic Development, Technological Change, and Growth - - Technological Change; Research and Development; Intellectual Property Rights - - - Management of Technological Innovation and R&D
- O57 - Economic Development, Technological Change, and Growth - - Economywide Country Studies - - - Comparative Studies of Countries
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