Using a new dataset encompassing more than 2,200 inventions made by Max Planck Societyresearchers from 1980 to 2004, we explore how licensee and technology characteristics affectthe licensing and commercialization of technologies from public research. We find noevidence that spin-offs and...

Entry into an industry often clusters in regions where the industry is already concentrated,which is suggestive of agglomeration economies. Regional public research activities mayexert another attracting force on entrants into science-based industries. Empirically theseproximity effects are...