Schumpeterian entrepreneurship is particularly prominent in high-tech industries where new ideas generated from advanced knowledge are of great importance. But case studies notwithstanding, the data used to analyze entrepreneurship have been dominated by startups in low-growth, low-tech...

We present a model of science-based entrepreneurship where ideas initially produced by researchers with high-level knowledge capital may be developed by high-ability entrepreneurs. With moderate investment costs, startups continuously managed by inventors-founders coexist in equilibrium with...

We explore whether the Bayh-Dole intellectual property regime is associated with more, and more valuable academic entrepreneurship than the “Professor's Privilege” regime. Using data on U.S. STEM Ph.D.'s becoming entrepreneurs during 1993-2006 and similar data from Sweden we present evidence...

The conventional view of science-based businesses focuses on the inseparability of the roles of the inventor generating the underlying idea and the Schumpeterian entrepreneur who implements it in practice. We present an equilibrium model of science-based entrepreneurship where scientific ideas...