سرمایه گذاری مخاطره آمیز به عنوان کاتالیزور برای تجاری سازی
|کد مقاله||سال انتشار||مقاله انگلیسی||ترجمه فارسی||تعداد کلمات|
|48222||2010||13 صفحه PDF||سفارش دهید||10592 کلمه|
Publisher : Elsevier - Science Direct (الزویر - ساینس دایرکت)
Journal : Research Policy, Volume 39, Issue 10, December 2010, Pages 1348–1360
We find that the public funding of academic research and venture capital have a complementary relationship in fostering innovation and the creation of new firms. Using panel data on metropolitan areas in the United States, from 1993 to 2002, our analyses reveal that the positive relationships between government research grants to universities and research institutes and the rates of patenting and firm formation in a region become more pronounced as the supply of venture capital in that region increases. Our results remain robust to estimation with an instrumental variable to address potential endogeneity in the provision of venture capital. Consistent with perspectives that emphasize the importance of an innovation ecosystem, our findings point to a strong interaction between private financial intermediation and public research funding in promoting entrepreneurship and innovation.