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specialized commercialization capabilities. According to the predominant framework, if the innovation is protected by a strong … appropriabilty regime the optimal strategy is to license the innovation to an incumbent product firm. This paper argues by contrast … commercialize alone or to pursue a hybrid arrangement (called co-promotion) whereby it licenses the innovation but retains the …
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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...
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of placed-based policies designed to spur innovation clusters. We estimate that the adoption of subsidies for biotech …
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This paper investigates how patent applications and grants held by new ventures improve their ability to attract venture capital (VC) financing. We argue that investors are faced with considerable uncertainty and therefore rely on patents as signals when trying to assess the prospects of...
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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 the local embeddedness and research affinity of founders....
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