venture capital (VC) financing. We argue that investors are faced with considerable uncertainty and therefore rely on patents … British biotechnology companies we have identified all patents filed at the European Patent Office (EPO). Applying hazard rate … attention to patent quality, financing those ventures faster which later turn out to have high-quality patents. Patent …

We investigate how intangible capital in form of intellectual property, such as patents, might mitigate financing … constraints. While scholars have already argued that patents might have a signalling value reducing information asymmetries … between borrowers and lenders, we quantify the value of using patents as collateral with regard to capital access. Although …

venture capital (VC) financing. We argue that investors are faced with considerable uncertainty and therefore rely on patents … British biotechnology companies we have identified all patents filed at the European Patent Office (EPO). Applying hazard rate … attention to patent quality, financing those ventures faster which later turn out to have high-quality patents. Patent …

Regions with biotechnology-specific knowledge seem to have best chances to attract potential entrepreneurs to establish … discoveries in the region of their place. BRC participating regions have best conditions to attract biotech companies on average …. Further, exclusive financial support of BRC winning regions does not contribute significantly to cluster biotechnology …

high start-up activity in knowledge intensive regions. Group differentiation shows that knowledge stock variables matter …