(innovation) with easy to measure activities (routine) is particularly costly, since it will either lead to misallocation of … and to financial constraints imposed by capital markets, both of which are hostile to innovation. …

of highly valued products. In so doing, we suggest an innovation policy framework based on two pillars: (i) the … economy. We argue that the latter area has been overlooked in the policy discussion and that a coherent innovation policy …

database on Swedish patents owned by individuals and small firms, this paper analyzes how different forms of external financing … influence the outcome when patents are commercialized. The estimations show that projects with soft government financing in the …

likelihood of patent renewal. Since the owners know more about the patents than potential external financiers, there is a problem …I apply a survival model to a detailed dataset of Swedish patents to estimate how different factors affect the … venture capital. The empirical results show that patents which have received soft government financing in the R&D-phase have a …

Using a unique database on individual Swedish patents, a survival model estimates how different factors influence the …. For external financing of patent projects and small technology-based firms, Sweden has during long time relied on … government support rather than private venture capital firms. The empirical results show that the larger share of the patent …