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Bottom-Up vs. Top-Down Policies towards the Commercialization of University Intellectual Property

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  • Goldfarb, Brent

    ()
    (Department of Economics, Rensselaer Polytechnic Institute)

  • Henrekson, Magnus

    ()
    (Dept. of Economics, Stockholm School of Economics)

Abstract

What national policies are most efficient in promoting the commercialization of university-generated knowledge? We address this question by characterizing and evaluating the policy pursued in Sweden and the US, two countries that put a great deal of resources into university R&D, but follow very different models for commercialization. Despite a leading academic record, there is an impression of laggard rates of commercialization of academic research results in Sweden. Although there exist no micro data to evaluate this impression, we argue that it is likely to be true in part due 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 a US institutional setting characterized by competition between universities for research funds and research personnel, which in turn has led to significant academic freedoms to interact with industry, including significant involvement in new firms.

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Bibliographic Info

Paper provided by Stockholm School of Economics in its series Working Paper Series in Economics and Finance with number 463.

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Length: 31 pages
Date of creation: 24 Sep 2001
Date of revision: 26 May 2002
Publication status: Published in Research Policy, 2003, pages 639-658.
Handle: RePEc:hhs:hastef:0463

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Postal: The Economic Research Institute, Stockholm School of Economics, P.O. Box 6501, 113 83 Stockholm, Sweden
Phone: +46-(0)8-736 90 00
Fax: +46-(0)8-31 01 57
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Web page: http://www.hhs.se/
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Related research

Keywords: Academic entrepreneurship; Innovation; Intellectual property; R&D; Spin-off firms; Technology transfer; University-industry relations; Universities and business formation;

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References

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  1. Henrekson, Magnus & Rosenberg, Nathan, 2000. "Incentives for Academic Entrepreneurship and Economic Performance: Sweden and the United States," Working Paper Series in Economics and Finance 362, Stockholm School of Economics.
  2. Bharant N. Anand & Alexander Galetovic, 1998. "Weak Property Rights and hold-up in R&D," Documentos de Trabajo 39, Centro de Economía Aplicada, Universidad de Chile.
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  5. Scott Stern, 1999. "Do Scientists Pay to Be Scientists?," NBER Working Papers 7410, National Bureau of Economic Research, Inc.
  6. Henrekson, Magnus & Rosenberg, Nathan, 2000. "Designing Efficient Institutions for Science-Based Entrepreneurship: Lessons from the US and Sweden," Working Paper Series in Economics and Finance 410, Stockholm School of Economics.
  7. Jerry G. Thursby & Marie C. Thursby, 2000. "Who is Selling the Ivory Tower? Sources of Growth in University Licensing," NBER Working Papers 7718, National Bureau of Economic Research, Inc.
  8. Richard Jensen & Marie Thursby, 1998. "Proofs and Prototypes for Sale: The Tale of University Licensing," NBER Working Papers 6698, National Bureau of Economic Research, Inc.
  9. Zucker, Lynne G & Darby, Michael R & Brewer, Marilynn B, 1998. "Intellectual Human Capital and the Birth of U.S. Biotechnology Enterprises," American Economic Review, American Economic Association, vol. 88(1), pages 290-306, March.
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  16. Bharat N. Anand & Alexander Galetovic, 2000. "Weak Property Rights and Holdup in R&D," Journal of Economics & Management Strategy, Wiley Blackwell, vol. 9(4), pages 615-642, December.
  17. Annika Rickne & Staffan Jacobsson, 1999. "New Technology-Based Firms In Sweden - A Study Of Their Direct Impact On Industrial Renewal," Economics of Innovation and New Technology, Taylor & Francis Journals, vol. 8(3), pages 197-223.
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Citations

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Cited by:
  1. Svensson, Roger, 2007. "Commercialization of patents and external financing during the R&D phase," Research Policy, Elsevier, vol. 36(7), pages 1052-1069, September.
  2. Svensson, Roger, 2002. "Commercialization of Swedish Patents – A Pilot Study in the Medical and Hygiene Sector," Working Paper Series 583, Research Institute of Industrial Economics.
  3. Braunerhjelm, Pontus, 2007. "Academic Entrepreneurship - social norms, university culture and policies," Working Paper Series in Economics and Institutions of Innovation 100, Royal Institute of Technology, CESIS - Centre of Excellence for Science and Innovation Studies.
  4. Lerner, Josh & Tåg, Joacim, 2012. "Institutions and Venture Capital," Working Paper Series 897, Research Institute of Industrial Economics.
  5. Spyros Arvanitis & Ursina Kubli & Martin Woerter, 2006. "University-Industry Knowledge Interaction in Switzerland: What University Scientists Think about Co-operation with Private Enterprises," KOF Working papers 06-132, KOF Swiss Economic Institute, ETH Zurich.
  6. Färnstrand Damsgaard, Erika & Thursby, Marie, 2012. "University Entrepreneurship and Professor Privilege," Working Paper Series 909, Research Institute of Industrial Economics, revised 12 Apr 2012.
  7. Alexander Schacht, 2012. "Commercializing inventions from public research: Does speed matter?," Jena Economic Research Papers 2012-026, Friedrich-Schiller-University Jena, Max-Planck-Institute of Economics.
  8. Rory O’Shea & Harveen Chugh & Thomas Allen, 2008. "Determinants and consequences of university spinoff activity: a conceptual framework," The Journal of Technology Transfer, Springer, vol. 33(6), pages 653-666, December.
  9. Harvey Goldstein & Edward Bergman & Gunther Maier, 2011. "Comparing U.S. and European Views of University Involvement in Economic Development," ERSA conference papers ersa11p301, European Regional Science Association.
  10. Arvanitis, Spyros & Kubli, Ursina & Woerter, Martin, 2008. "University-industry knowledge and technology transfer in Switzerland: What university scientists think about co-operation with private enterprises," Research Policy, Elsevier, vol. 37(10), pages 1865-1883, December.

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