This paper explores the relationship between knowledge creation, entrepreneur-ship, and economic growth in the United … States over the last 150 years. Accor-ding to the “new growth theory,” investments in knowledge and human capital ge …-nerate economic growth via spillovers of knowledge. But the theory does not ex-plain how or why spillovers occur, or why large …

Whereas initially physical capital and later, knowledge capital were viewed as crucial for growth, more recently a very … knowledge-based entrepreneurship capital is driven by local levels of knowledge creation and the acceptance of new ideas …, indicating that local knowledge flows play an important role. Low-tech entrepreneurship capital is rather increased by regional …

commercialization - patents and Small Business Innovation Research (SBIR) grants - do not cover the full spectrum of commercializing …

entrepreneurship literature is that opportunities are exogenous, the most prevalent theory of innovation in the economics literature …

The intellectual breakthrough contributed by the new growth theory was the recognition that investments in knowledge … and human capital endogenously generate economic growth through the spillover of knowledge. Endogenous growth theory does … not explain how or why spillovers occur. The missing link is the mechanism converting knowledge into economically relevant …

and innovation within the German economy... …