Entrepreneurship involves innovation and uncertainty. We outline a theory of entrepreneurship, which highlights the importance of social networks in promoting innovation and reducing uncertainty. Our findings suggest that this “social” aspect of entrepreneurship increases the probability of...

This paper models the entrepreneurial process as both creation and discovery composed of an iterative two-step process where entrepreneurs create social networks based on subjective expectations about the future effectiveness of those networks, and then choose the innovation to pursue and map a...

Partnerships between universities and industrial firms can play a key role in enhancing competitiveness because they provide a conduit for the spillover of knowledge from the academic organization where knowledge is created to the firm where it is transformed into innovative activity. We set...

Economic development practitioners and scholars recognize the link between universities and regional economic development. It is predicated on the spillover of knowledge from universities to commercialization. The literature has focused on the supply side, which involves university research and...

Perception and action describe the entrepreneur as a dynamic figure in economic activity. It follows then that entrepreneurship entails a process that begins with perception and is completed with action. When it comes to places—meaning physical localities—rarely is it the case that the...

This paper develops a formal context for understanding the role that universities play in facilitating the transmission of knowledge to private-sector firms so as to generate economic growth. To the degree the university seeks to act as a complement to private-sector firm-with-firm collaborative...

This paper advances our understanding of university-industry research and development (R&D) collaborations. These strategic relationships are a dimension of entrepreneurial activity, and they are thus important drivers of economic growth and development. Business collaboration with universities...

This paper argues that a linear model of technology transfer is no longer sufficient, or perhaps even no longer relevant, to account for the nuances and complexities of the technology transfer process that characterizes the ongoing commercialization activities of universities. Shortcomings of...

Five important policy initiatives were promulgated in response to the slowdown in U.S. productivity in the early-1970s, and then again in the late-1970s and early-1980s. These initiatives included the Bayh-Dole Act of 1980, the Stevenson-Wydler Act of 1980, the R&E Tax Credit of 1981, the Small...

The flow of knowledge from a university research park is not a new theme in the academic domain, but those studies that have focused on the prevalence of this phenomenon in the United States have been somewhat limited in the availability of data related to both the genesis of the park as well as...