SSE/EFI Working Paper Series in Economics and Finance
No 463:
Bottom-Up vs. Top-Down Policies towards the Commercialization of University Intellectual Property
Brent Goldfarb ()
and Magnus Henrekson ()
Abstract: What national policies are most efficient in promoting the
commercialization of university-generated knowledge? We address this
question by characterizing and evaluating the policy pursued in Sweden and
the US, two countries that put a great deal of resources into university
R&D, but follow very different models for commercialization. Despite a
leading academic record, there is an impression of laggard rates of
commercialization of academic research results in Sweden. Although there
exist no micro data to evaluate this impression, we argue that it is likely
to be true in part due 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 a US institutional setting
characterized by competition between universities for research funds and
research personnel, which in turn has led to significant academic freedoms
to interact with industry, including significant involvement in new
firms.
Keywords: Academic entrepreneurship; Innovation; Intellectual property; 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)
31 pages, September 24, 2001, Revised May 26, 2002
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- This paper is published as:
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Goldfarb, Brent and Magnus Henrekson, (2003), 'Bottom-Up vs. Top-Down Policies towards the Commercialization of University Intellectual Property', Research Policy, Vol. 32, April, No. 4, pages 639-658
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