operating in knowledge intensive sectors and start-ups belonging to the remaining ones. This separation is done in order to … interpret the estimation results for start-ups in knowledge intensive sectors in a reliable way. The remaining firms serve as a …

The paper tests empirically the role of knowledge stocks to explain the regional distribution of Germany …’s biotechnology founders. We present an unique approach to highlight the role of knowledge spillovers as we differentiate according … high start-up activity in knowledge intensive regions. Group differentiation shows that knowledge stock variables matter …