Start-Ups and Spin-Offs: Collective Entrepreneurship between Invention and Innovation

THE EMERGENCE OF ENTREPRENEURSHIP POLICY: GOVERNANCE, START-UPS, AND GROWTH IN THE KNOWLEDGE ECONOMY, David Hart, ed., Cambridge University Press, 2003

45 Pages Posted: 7 May 2009 Last revised: 29 Sep 2013

Philip E. Auerswald

George Mason University - Schar School of Government and Policy

Lewis Branscomb

Harvard University - Harvard Kennedy School (HKS)

Date Written: September 1, 2002

Abstract

In this paper we argue that specific institutional and behavioral disjunctures in the process of technology development may systematically impede the flow of financial and other resources to even the most promising nascent technology ventures. Our particular focus is on the role of technology entrepreneurs in managing early stage technology development (ESTD) projects - the transition from invention to innovation. We introduce the term collective entrepreneurship to describe the trust- and reputation based process by which entrepreneurs work collaboratively to overcome informational and contracting challenges inherent in ESTD. We then examine in some detail two paradigmatic contexts in which collective entrepreneurship occurs: university-based start-ups and corporate spin-offs.

Keywords: collaboration, collective entrepreneurship, entrepreneurship, technology, start-ups, spin-offs

Suggested Citation

Auerswald, Philip E. and Branscomb, Lewis, Start-Ups and Spin-Offs: Collective Entrepreneurship between Invention and Innovation (September 1, 2002). THE EMERGENCE OF ENTREPRENEURSHIP POLICY: GOVERNANCE, START-UPS, AND GROWTH IN THE KNOWLEDGE ECONOMY, David Hart, ed., Cambridge University Press, 2003. Available at SSRN: https://ssrn.com/abstract=1400784

Philip Edgar Auerswald (Contact Author)

George Mason University - Schar School of Government and Policy ( email )

3351 Fairfax Dr.
Arlington, VA 22201
United States

HOME PAGE: http://auerswald.org

Lewis Branscomb

Harvard University - Harvard Kennedy School (HKS) ( email )

79 John F. Kennedy Street
Cambridge, MA 02138
United States

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