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Innovation Policy and Nanotechnology Entrepreneurship

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  • Jennifer L. Woolley
  • Renee M. Rottner

Abstract

In this article, we explore the relationship between innovation policy and new venture creation in the United States. Specifically, we examine two components of innovation policy in nanotechnology—science and technology (S&T) initiatives and economic initiatives—and their relationship with the founding of nanotechnology firms. We find strong support relating new firm formation to S&T and economic initiatives. States with both S&T and economic initiatives had six times as many firms founded than those states without such initiatives. We also find evidence of a first–mover advantage as states with the earliest innovation policies had higher rates of related firm foundings over time. These findings suggest that states that are most attractive to entrepreneurs not only pursue technological innovation and provide resources, but also encourage and legitimize commercial development. Implications for public policy makers and scholars are provided.

Suggested Citation

  • Jennifer L. Woolley & Renee M. Rottner, 2008. "Innovation Policy and Nanotechnology Entrepreneurship," Entrepreneurship Theory and Practice, , vol. 32(5), pages 791-811, September.
    • Handle: RePEc:sae:entthe:v:32:y:2008:i:5:p:791-811
    DOI: 10.1111/j.1540-6520.2008.00256.x
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    3. Joern H. Block & Christian O. Fisch & Mirjam van Praag, 2017. "The Schumpeterian entrepreneur: a review of the empirical evidence on the antecedents, behaviour and consequences of innovative entrepreneurship," Industry and Innovation, Taylor & Francis Journals, vol. 24(1), pages 61-95, January.
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    6. Nina Granqvist & Stine Grodal & Jennifer L. Woolley, 2013. "Hedging Your Bets: Explaining Executives' Market Labeling Strategies in Nanotechnology," Organization Science, INFORMS, vol. 24(2), pages 395-413, April.
    7. Buffart, Mickaël & Croidieu, Grégoire & Kim, Phillip H. & Bowman, Ray, 2020. "Even winners need to learn: How government entrepreneurship programs can support innovative ventures," Research Policy, Elsevier, vol. 49(10).
    8. Jose L. Gonzalez-Pernia & Iñaki Peña-Legazkue, 2012. "Regional FDI, technological knowledge and Export-Oriented Entrepreneurs in Spain," ERSA conference papers ersa12p912, European Regional Science Association.
    9. Xinming Ge & Jinbo Wang, 2022. "A Meta-Analysis of the Relationship between Financing Efficiency and Entrepreneurial Vitality: Evidence from Chinese College Students," Sustainability, MDPI, vol. 14(17), pages 1-22, August.
    10. Amato, Amedeo & Dagostino, Virginia, 2011. "Economic Issues on Nanotechnology: An International Comparison and Results From Economic And Econometric Analysis - Questioni economiche sulle nanotecnologie: un confronto internazionale e risultati d," Economia Internazionale / International Economics, Camera di Commercio Industria Artigianato Agricoltura di Genova, vol. 64(2), pages 131-151.
    11. Maribel Guerrero & David Urbano, 2019. "Effectiveness of technology transfer policies and legislation in fostering entrepreneurial innovations across continents: an overview," The Journal of Technology Transfer, Springer, vol. 44(5), pages 1347-1366, October.
    12. Zhengjun Hu & Shanshan Li, 2023. "Innovation-Driven Policy and Low-Carbon Technology Innovation: Research Driven by the Impetus of National Innovative City Pilot Policy in China," Sustainability, MDPI, vol. 15(11), pages 1-18, May.
    13. Farchi, Tomas & Salge, Torsten-Oliver, 2017. "Shaping innovation in health care: A content analysis of innovation policies in the English NHS, 1948–2015," Social Science & Medicine, Elsevier, vol. 192(C), pages 143-151.
    14. Jennifer L. Woolley, 2014. "The Creation and Configuration of Infrastructure for Entrepreneurship in Emerging Domains of Activity," Entrepreneurship Theory and Practice, , vol. 38(4), pages 721-747, July.
    15. Jean-Michel Sahut & Marta Peris-Ortiz, 2014. "Small business, innovation, and entrepreneurship," Small Business Economics, Springer, vol. 42(4), pages 663-668, April.
    16. Maksim Belitski & Sameeksha Desai, 2016. "What drives ICT clustering in European cities?," The Journal of Technology Transfer, Springer, vol. 41(3), pages 430-450, June.
    17. Woolley Jennifer L., 2011. "Studying the Emergence of New Organizations: Entrepreneurship Research Design," Entrepreneurship Research Journal, De Gruyter, vol. 1(1), pages 1-28, January.
    18. Carmen Lafuente & Ignacio López & Carlos Poza, 2014. "Education, Innovation, Stage of Activity and the Recent Economic Crisis as Key Factors of Internationalization: An Empirical Analysis of the Spanish Entrepreneurs Using the GEM Database," International Journal of Business and Social Research, LAR Center Press, vol. 4(10), pages 54-67, October.

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