By Scott Andrew Shane
In the course of my tenure at Cornell University's Entrepreneur In place of dwelling, i discovered Scott Shane's ebook to be a invaluable source packed with facts and perception.
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College spin-offs motivate financial improvement and aid universities. picking out elements that impact the luck of college spin-offs is as a result valuable to reinforce monetary improvement and to maintain the significance of universities. even if, few components inner to the corporate were pointed out previously.
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Extra resources for Academic Entrepreneurship: University Spinoffs and Wealth Creation (New Horizons in Entrepreneurship Series,)
36 Academic entrepreneurship Data reported by other researchers also suggest that several other universities have earned more money from creating spinoffs than from licensing their inventions to established companies. For example, Feldman (2001) reports that, in 2000, Johns Hopkins University had a capital gain from the sale of equity in two spinoffs equal to all its other licensing income combined. 5 million, a figure larger than the royalty income it received in that year. A few studies have tried to compare directly the returns to universities of equity positions in spinoffs with licenses to established companies.
Inventor involvement in technology development by the spinoff may be most effective if the inventor takes on the role of chief technology officer rather than the role of chief executive officer. As will be discussed in greater detail in Chapter 12, the performance of university spinoffs is enhanced by the involvement on the founding team of an experienced manager, who often takes on the role of chief executive officer. The ability to obtain additional research funding from university spinoffs does depend on the university building a positive relationship with those companies.
University patenting and technology commercialization activity increased after World War I, a fact that can be attributed, at least in part, to the acceleration of technological development in the 1920s, as well as to the increased University spinoffs in historical perspective 43 involvement of industry in university research (Mowery and Sampat, 2001b). However, the volume of the commercialization effort in the first part of the 20th century was still relatively low. During this period, universities produced much less technology for commercial purposes than they do today, in both absolute and relative terms.