Exploring the relationship between scientist human capital and firm performance: The case of biomedical academic entrepreneurs in the SBIR program
Do academic scientists bring valuable human capital to the companies they found or join? If so, what are the particular skills that compose their human capital and how are these skills related to firm performance? This paper examines these questions using a particular group of academic entrepreneurs – biomedical research scientists who choose to commercialize their knowledge through the U.S. Small Business Innovation Research Program. Our conceptual framework assumes the nature of an academic entrepreneurs? prior research reflects the development of their human capital. We highlight differences in firm performance that correlate with differences in the scientists? research orientations developed during their academic careers. We find that biomedical academic entrepreneurs with human capital oriented toward exploring scientific opportunities significantly improve their firms? performance of research tasks such as ?proof of concept? studies. Biomedical academic entrepreneurs with human capital oriented toward exploring commercial opportunities significantly improve their firms? performance of invention oriented tasks such as patenting. Consistent with prior evidence, there also appears to be a form of diminishing returns to scientifically oriented human capital in a commercialization environment. Holding the commercial orientation of the scientists? human capital constant, we find that increasing their human capital for identifying and exploring scientific opportunities significantly detracts from their firms? patenting performance.
|Date of creation:||2007|
|Date of revision:|
|Contact details of provider:|| Postal: |
Web page: http://www.zew.de/
More information through EDIRC
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Toole, Andrew A. & Czarnitzki, Dirk, 2007.
"Biomedical academic entrepreneurship through the SBIR program,"
Journal of Economic Behavior & Organization,
Elsevier, vol. 63(4), pages 716-738, August.
- Andrew Toole & Dirk Czarnitzki, 2007. "Biomedical Academic Entrepreneurship through the SBIR Program," NBER Chapters, in: Academic Science and Entrepreneurship: Dual Engines of Growth National Bureau of Economic Research, Inc.
- Andrew A. Toole & Dirk Czarnitzki, 2005. "Biomedical Academic Entrepreneurship Through the SBIR Program," NBER Working Papers 11450, National Bureau of Economic Research, Inc.
- Toole, Andrew A. & Czarnitzki, Dirk, 2005. "Biomedical Academic Entrepreneurship Through the SBIR Program," ZEW Discussion Papers 05-47, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research.
- Marie Thursby & Richard Jensen, 2001. "Proofs and Prototypes for Sale: The Licensing of University Inventions," American Economic Review, American Economic Association, vol. 91(1), pages 240-259, March.
- Bronwyn H. Hall & Adam B. Jaffe & Manuel Trajtenberg, 2001.
"The NBER Patent Citation Data File: Lessons, Insights and Methodological Tools,"
NBER Working Papers
8498, National Bureau of Economic Research, Inc.
- Hall, B. & Jaffe, A. & Trajtenberg, M., 2001. "The NBER Patent Citations Data File: Lessons, Insights and Methodological Tools," Papers 2001-29, Tel Aviv.
- Hall, Bronwyn H & Jaffe, Adam B & Trajtenberg, Manuel, 2001. "The NBER Patent Citations Data File: Lessons, Insights and Methodological Tools," CEPR Discussion Papers 3094, C.E.P.R. Discussion Papers.
- Corolleur, Catherine D. F. & Carrere, M. & Mangematin, V., 2004. "Turning scientific and technological human capital into economic capital: the experience of biotech start-ups in France," Research Policy, Elsevier, vol. 33(4), pages 631-642, May.
- Maryann P. FELDMAN & Frank R. LICHTENBERG, 1998.
"The Impact and Organization of Publicly-Funded Research and development in the European Community,"
Annales d'Economie et de Statistique,
ENSAE, issue 49-50, pages 199-222.
- Maryann P. Feldman & Frank R. Lichtenberg, 1997. "The Impact and Organization of Publicly-Funded Research and Development in the European Community," NBER Working Papers 6040, National Bureau of Economic Research, Inc.
- Ajay Agrawal & Rebecca Henderson, 2002. "Putting Patents in Context: Exploring Knowledge Transfer from MIT," Management Science, INFORMS, vol. 48(1), pages 44-60, January.
- Nicola Lacetera, 2009. "Academic entrepreneurship," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 30(7), pages 443-464.
- Bates, Timothy, 1990. "Entrepreneur Human Capital Inputs and Small Business Longevity," The Review of Economics and Statistics, MIT Press, vol. 72(4), pages 551-59, November.
- Cockburn, Iain M & Henderson, Rebecca M, 1998. "Absorptive Capacity, Coauthoring Behavior, and the Organization of Research in Drug Discovery," Journal of Industrial Economics, Wiley Blackwell, vol. 46(2), pages 157-82, June.
- Jerry G. Thursby & Marie C. Thursby, 2003.
"Are Faculty Critical? Their Role in University-Industry Licensing,"
NBER Working Papers
9991, National Bureau of Economic Research, Inc.
- Jerry G. Thursby & Marie C. Thursby, 2004. "Are Faculty Critical? Their Role in University-Industry Licensing," Contemporary Economic Policy, Western Economic Association International, vol. 22(2), pages 162-178, 04.
- Jerry G. Thursby & Marie C. Thursby, 2003. "Are Faculty Critical? Their Role in University-Industry Licensing," Emory Economics 0320, Department of Economics, Emory University (Atlanta).
- Murray, Fiona, 2002. "Innovation as co-evolution of scientific and technological networks: exploring tissue engineering," Research Policy, Elsevier, vol. 31(8-9), pages 1389-1403, December.
- David Catherine & Frédéric Corolleur & Myriam Carrère & Vincent Mangematin, 2004. "Turning scientific and technological human capital into economic capital: the experience of biotech start-ups in France," Grenoble Ecole de Management (Post-Print) hal-00422583, HAL.
- 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.
- Dietz, James S. & Bozeman, Barry, 2005. "Academic careers, patents, and productivity: industry experience as scientific and technical human capital," Research Policy, Elsevier, vol. 34(3), pages 349-367, April.
- Murray, Fiona, 2004. "The role of academic inventors in entrepreneurial firms: sharing the laboratory life," Research Policy, Elsevier, vol. 33(4), pages 643-659, May.
- Jeannette Colyvas & Michael Crow & Annetine Gelijns & Roberto Mazzoleni & Richard R. Nelson & Nathan Rosenberg & Bhaven N. Sampat, 2002. "How Do University Inventions Get Into Practice?," Management Science, INFORMS, vol. 48(1), pages 61-72, January.
- Samuel Kortum & Josh Lerner, 2000. "Assessing the Contribution of Venture Capital to Innovation," RAND Journal of Economics, The RAND Corporation, vol. 31(4), pages 674-692, Winter.
- Pierre Azoulay & Waverly Ding & Toby Stuart, 2005. "The Determinants of Faculty Patenting Behavior: Demographics or Opportunities?," NBER Working Papers 11348, National Bureau of Economic Research, Inc.
- Henderson, Rebecca. & Cockburn, Iain., 1994. "Measuring competence? : exploring firm effects in pharmaceutical research," Working papers 3712-94., Massachusetts Institute of Technology (MIT), Sloan School of Management.
- Scott Shane & Rakesh Khurana, 2003. "Bringing individuals back in: the effects of career experience on new firm founding," Industrial and Corporate Change, Oxford University Press, vol. 12(3), pages 519-543, June.
- Kira Fabrizio & Alberto Di Minin, 2004. "Commercializing the laboratory: the relationship between faculty patenting and publishing," Working Papers 200402, Scuola Superiore Sant'Anna of Pisa, Istituto di Management.
- Paula Stephan & Shiferaw Gurmu & Albert Sumell & Grant Black, 2007. "Who'S Patenting In The University? Evidence From The Survey Of Doctorate Recipients," Economics of Innovation and New Technology, Taylor & Francis Journals, vol. 16(2), pages 71-99.
- Archibald, Robert B. & Finifter, David H., 2003. "Evaluating the NASA small business innovation research program: preliminary evidence of a trade-off between commercialization and basic research," Research Policy, Elsevier, vol. 32(4), pages 605-619, April.
- Lerner, Josh, 1999. "The Government as Venture Capitalist: The Long-Run Impact of the SBIR Program," The Journal of Business, University of Chicago Press, vol. 72(3), pages 285-318, July.
- Michelle Gittelman & Bruce Kogut, 2003. "Does Good Science Lead to Valuable Knowledge? Biotechnology Firms and the Evolutionary Logic of Citation Patterns," Management Science, INFORMS, vol. 49(4), pages 366-382, April.
- P. Mueller, 2006. "Entrepreneurship in the Region: Breeding Ground for Nascent Entrepreneurs?," Small Business Economics, Springer, vol. 27(1), pages 41-58, August.
- Etzkowitz, Henry, 2003. "Research groups as 'quasi-firms': the invention of the entrepreneurial university," Research Policy, Elsevier, vol. 32(1), pages 109-121, January.
- Ashish Arora & Alfonso Gambardella, 1996. "Reputation and competence in publicly funded scientific research," Industrial Organization 9605002, EconWPA.
- Colombo, Massimo G. & Grilli, Luca, 2005. "Founders' human capital and the growth of new technology-based firms: A competence-based view," Research Policy, Elsevier, vol. 34(6), pages 795-816, August.
When requesting a correction, please mention this item's handle: RePEc:zbw:zewdip:5498. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (ZBW - German National Library of Economics)
If references are entirely missing, you can add them using this form.