SSE/EFI Working Paper Series in Economics and Finance
No 436:
Demand vs. Supply Driven Innovations: US and Swedish Experiences in Academic Entrepreneurship
Brent Goldfarb ()
, Magnus Henrekson ()
and Nathan Rosenberg ()
Abstract: Measured by per-capita publication measures, Sweden is an
academic powerhouse. Hence, its inability to commercialize on these
accomplishments is a puzzle. This paper attributes this failure to the
top-down nature of Swedish policies aimed at commercializing these
innovations as well as an academic environment that discourages academics
from actively participating in the commercialization of their ideas. This
sits in stark contrast to the US institutional setting that is
characterized by competition between universities for research funds and
research personnel, which in turn has led to significant academic freedoms
to interact with industry, particularly by founding new firms. We conclude
that the technocratic, supply-driven nature of attempts to exploit academic
output in Sweden has been markedly less successful than the demand-driven
market institutions in the US.
Keywords: Academic entrepreneurship; Innovation; R&D; Spin-off firms; Technology transfer; University-industry relations; Universities and business formation; (follow links to similar papers)
JEL-Codes: J24; O31; O32; O57; (follow links to similar papers)
21 pages, February 27, 2001
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