Public policies towards Research Joint Venture: Institutional design and participants' characteristics

In this paper, we present several insights regarding the influence of institutional design on the process of Research Joint Venture (RJV) formation. Our results are obtained with a firm-level dataset on RJVs formed under the umbrella of the Eureka initiative and of the European Union's Framework Programmes (EU-FPs) for science and technology. We focus on firms that are known to have a high probability of forming RJVs, with the latter identified as firms with a past experience in collaborative research. The results indicate that EU-FP RJVs are consistent with a "top-down" and "mission oriented" research policy. By contrast, Eureka RJVs appear as more market driven and "bottom-up".