This article examines what happens to firms that become affiliated with ‘dealmakers’—individuals who are unusually well connected in local social networks.
This article examines the development of university technology transfer operations at the Research Triangle region’s three universities.
Past research has shown that founders bring important capabilities and resources from their prior employment into their new firms and that these intergenerational transfers influence the performance of these ventures. However, we know little about whether organizational practices also transfer from parents to spawns, and if so, what types of practices are transferred? Using a combination of survey and registrar data and through a detailed identification strategy, we examine these two previously unaddressed questions.
We present preliminary work to construct a knowledge curation system to advance research in the study of regional economics. The proposed system exploits natural language processing (NLP) techniques to automatically implement business event extraction, provides a user-facing interface to assist human curators, and a feedback loop to improve the performance of the Information Extraction Model for the automated parts of the system.
The US Brain Research through Advancing Innovative Neurotechnologies Grand Challenge and the EU Human Brain Project Future and Emerging Technologies Flagship, though seemingly similar in many dimensions, have distinct features that have been shaped by politics and institutional systems. This article documents the history of the two projects and compares their organization and funding mechanisms.
This paper seeks to improve our understanding of how intermediaries operate to advance the commercialization of science by providing a set of specialized services. We review five intermediaries commonly mentioned in the ecosystem literature: university technology transfer and licensing offices; physical space (incubators, accelerators, and co-working spaces); professional services providers; networking, connecting, and assisting organizations; and finance providers (including venture capital, angel investors, public financing, and crowdfunding).
The idea that new ventures are simple mimetic reflections of the organizational practices of existing organizations contradicts the recognized importance of organizational diversity for innovation. There is an inherent contradiction in the literature between the persistence implied by the inheritance of practices from prior employment, and the experimentation prevalent in the organizational practices contributed by new organizations. This paper first accounts for mechanisms that may drive heritage of practices from parent organizations to their spawns.
With 45 states offering a range of SBIR Outreach and SBIR Match programs specifically designed to enhance the federal SBIR program, such programs provide a useful lens for examining the nature of the multilevel innovation policy mix.
The extent to which federal investment in research crowds out or decreases incentives for investment from other funding sources remains an open question. Scholarship on research funding has focused on the relationship between federal and industry or, more comprehensively, non-federal funding without disentangling the other sources of research support that include nonprofit organizations and state and local governments. This paper extends our understanding of academic research support by considering the relationships between federal and non-federal funding sources provided by the National Science Foundation Higher Education Research and Development Survey.
This paper investigates how institutions impact tie formation, arguing that institutions can direct firm strategies towards exploration or towards exploitation.
State and local economic development is often conceptualized as a series of successive waves, with each wave representing distinct policy priorities. In this study, we rework the standard wave metaphor to recognize the gains for regional economies when practitioners reach across established boundaries to work together to create a strategy mix.
Many of the most prosperous places in the U.S. are hotbeds of technology and also the home bases of companies which exercise monopoly power across much larger territories – nationally, or even globally. This paper makes four arguments about regional income disparities.
State initiatives that build innovation capacity by supporting local academic research, attracting eminent scholars, and building research excellence have become prominent among the 50 states over the past 30 years. This article focuses on three programs: University Research Grants, Eminent Scholars, and Centers of Excellence.
The spatial diffusion and adoption of rDNA methods, Regional Studies. The 1980 patent granted to Stanley Cohen and Herbert Boyer for their development of rDNA technology played a critical role in the establishment of the modern biotechnology industry. From the birth of this general-purpose technology in the San Francisco Bay area, rDNA-related knowledge diffused across sectors and regions of the US economy.
Like anyone trying to get something done with limited time and resources, economic developers have a lot of options to weigh when formulating a strategy to attract and retain businesses in their local economy. Over the years, economic development researchers have espoused a succession of theories as they’ve learned more about the many factors that influence economic growth. Historically, practitioners have tended to respond by focusing their efforts around what they perceive as the latest and greatest thinking, often at the expense of previously favored approaches. In practice, this has led to waves in which economic developers have focused on recruiting large, established companies or on fostering home-grown start-ups—but rarely both.
We present institutional change as a creative and experimental response to emergent or competing logics.
This article develops a case of economic development policy as an adaptive and improvisational process: effective policy is endogenous and the result of negotiations and power relationships.
Community banks are the central financial institution in many places. They have the capacity to alleviate credit constraints of small firms. This may increase economic resilience, delaying or mitigating the effects of the Great Recession. We estimate how the county-level banking access and community bank market share affect both the timing and duration of the Great Recession. Using the Cox Proportional Hazards Model, we find that communities with a higher community bank market share are either less likely to experience recession conditions, or experience these conditions later. Using the Heckman Selection model, we confirm these results, and show that communities with a higher community bank market share are less likely to experience recession conditions. This research provides the first link between local financial institutions, and economic resilience.
Venture philanthropy presents a new model of research funding that is particularly helpful to those fighting orphan diseases, which actively manages the commercialization process to accelerate scientific progress and material outcomes. This paper begins by documenting the growing importance of foundations as a source of funding academic research as traditional funding from industry and government sources decline.
We are now in the age of Big, and, seemingly, ever Bigger Data. The current public discussion focuses on the avalanche of data, due to fact that nearly all written (and other) materials are now available in a digital format, which simplifies their accessibility, extraction, classification, and analysis. Even more so, the adoptions of online digital platforms create new and ever-larger data quantities every day. While created for other purposes the potential for scientific socio-economic research appears simultaneously extremely promising and extremely uncertain – very much like answers in search of good questions.
The New Oxford Handbook of Economic Geography is the most comprehensive and significant statement about the value and potential of economic geography in 2017. Sixty-six leading economists and geographers from around the world investigate the rival theories and perspectives that have sustained the development of economic geography. The Handbook also focuses on linkages, including those between inequality, instability, and sustainability in the global economy; economic behavior, strategies, and practices; mobility and creativity; resources and development; and distribution and consumption.
How do cities attract mobile firms? The answer, frequently, involves beer. Dr. Maryann Feldman has recently published an editorial describing how cities are increasingly selling themselves on quality of life metrics, talent, and trendy amenities that appeal to young professionals. Responding to Amazon’s HQ2 contest, cities across the country listed breweries among their city’s assets while wooing the technology giant. The article is based on a paper that three of her students wrote under her guidance, and the inspirations for which evolved out of a seminar Dr. Feldman taught on science and technology policy.
This paper analyzes factors that shape the technological capabilities of individual U.S. states and European countries, which are arguably comparable policy units. The analysis demonstrates convergence in technological capabilities from 2000 to 2007.
Innovative data sources offer new ways of studying spatial and temporal industrial and regional development. Our approach is to study the development of an entrepreneurial regional economy through a comprehensive analysis of its constituent firms and institutions over time.
This paper conceptualises the array of social practices as a continuum of social innovation and empirically demonstrates variation not captured by legal designation. Using a survey from the US state of North Carolina, this paper examines how organisations across the continuum responded to the 2008 economic recession.
This study investigates how the organizational reporting structure of the university technology licensing office (TLO) and the educational background and experience of the TLO director affect the technology transfer process.
Are the agglomeration economies of technology hubs augmented by a localized market for start-ups – acquisitions, and IPOs? How does this affect the ability of places outside of those hubs to foster digital startups as a tool of local economic development? We study this with a particular focus on acquisitions by the seven largest American digital platforms – Amazon, Alphabet [Google], Apple, Microsoft, Facebook, Oracle and Adobe, which we call, collectively, Big Tech. We cover the years 2001-2020. We show that firms acquired by Big Tech are, disproportionately to the sectors in which they operate, concentrated in major tech clusters, and particularly in the Silicon Valley (San Francisco/San Jose). We argue that the acquisition market – and its effects on both the major tech hubs and the left behind rest – depends crucially on the proprietary control of access to various digital network products. Regulation of these markets, particularly in the form of common carrier status and open standards, could achieve a considerable re-balancing.
Postdoctoral scholars may be economic complements or substitutes for faculty, doctoral research assistants and capital in the production of university life science research. Using data on 120 US universities, we present two cross-sectional (1993 and 2006) descriptive econometric models. Results suggest that postdocs serve primarily as complements to other labour inputs and capital.
The local levels of economies have felt the impact of technological change and globalization. These forces have triggered the need to understand the dynamic mechanisms that enable locales to respond to such changes. For example, the downsizing of traditional employers because of a major loss in market share due to new competitors, acquisition by global firms, or off-shoring of production or services was traditionally thought to be beyond the scope of powers of local policymakers, thinkers, and business leaders.
This paper starts by defining economic development and then considers the role of government, arguing that public policy should focus on building capacities that are beyond the ability of the market to provide.
This unique Companion provides a comprehensive overview and critical evaluation of existing conceptualizations and new developments in innovation research.
This study explores the process of organizational change by examining localized social learning in organizational subunits. Specifically, we examine participation in university technology transfer, a new organizational initiative, by tracking 1,780 faculty members, examining their backgrounds and work environments, and following their engagement with academic entrepreneurship.
Why do investments in certain places yield jobs, growth, and prosperity while similar investments made in seemingly identical places fail to produce the desired results? Starting with the observation that innovation clusters spatially across a broad spectrum of industries, my work seeks to understand the mechanisms and institutions that promote the creation of useful knowledge. In my conceptualization, entrepreneurs, as the agents who recognize opportunity, mobilize resources, and create value, are key to the creation of institutions and the building of capacity that will sustain regional economic development.
Universities have become essential players in the generation of knowledge and innovation. Through the commercialization of technology, they have developed the ability to influence regional economic growth. By examining different commercialization models this book analyses technology transfer at universities as part of a national and regional system.
The panel invited women scholars to consider how feminist approaches have—and have not—made a difference in economic geography.
Investing in economic capabilities that enhance firms' ability to innovate and compete on the world stage has become an important national and local policy focus. This type of investment occurs in specific communities and jurisdictions, often providing the foundation for regional economic development.
Rapid advances in artificial intelligence (AI) and automation technologies have the potential to significantly disrupt labor markets. While AI and automation can augment the productivity of some workers, they can replace the work done by others and will likely transform almost all occupations at least to some degree. Rising automation is happening in a period of growing economic inequality, raising fears of mass technological unemployment and a renewed call for policy efforts to address the consequences of technological change. In this paper we discuss the barriers that inhibit scientists from measuring the effects of AI and automation on the future of work.
This article utilizes a unique database (PLACE, the PLatform for Advancing Community Economies) to explore relationships between founders’ prior work experiences and the outcomes of their entrepreneurial firms.
Often the story of successful places is predicated on the story of an individual who was instrumental in creating institutions and making connections that were transformative for a local economy. Certainly this is the case for Silicon Valley in California and Fred Terman, the Dean of Engineering at Stanford University, USA, who offered his garage to his students, Hewlett and Packard, and encouraged other start-ups. Or George Kozmetsky, the founder of Teledyne, who created the Institute for Innovation, Creativity and Capital (IC2) and mentored over 260 local computer companies in Austin, Texas. Any reading of the lives of these individuals highlights their connection to community and motivations beyond making profits.
This paper examines the cross-university variation in spin-off activity by faculty members from 124 US academic institutions, using a unique database including data on founders of both formal and informal spin-offs. Accordingly, the rate of spawning founders is positively affected by the quality of the institution and its departments, the R&D expenditure of the institution, and the strength of the local cluster.
The goal of this paper is to conduct a survival analysis to determine the causal impact of federal R&D subsidies on firms’ long-term survival.
We analyze and assess longitudinal data on startups from two data sources – the National Establishment Time-Series (NETS) database and the Secretary of State (SOS) business registry data. Our primary purposes in this paper are to assess the usefulness and reliability of these databases in measuring startup activity along several quality indicators and to explore the possibility of integrating these large databases using both automated and manual processes.