By Scott Andrew Shane
During this targeted and well timed quantity, Scott Shane systematically explains the formation of college by-product businesses and their function within the commercialization of college expertise and wealth production within the usa and in different places. the significance of college by-product job is mentioned and the ancient improvement of college derivative ventures is traced through the years. Scott Shane offers in-depth research of the 4 significant elements that together effect by-product task: the college and societal surroundings, the expertise built at universities, the industries within which spinoffs function, and the folks concerned. He records the method of corporation construction, targeting the formation of spinoffs, the transformation of the spinoff's expertise into new services, the identity and exploitation of a marketplace for those new services and the purchase of monetary assets. additionally unique are the standards that increase and inhibit the functionality of college spinoffs, in addition to the impression that they've at the associations that spawn them. Authoritative and hugely readable, this quantity will attract students getting to know the by-product phenomenon, collage know-how move officials, inventors, policymakers, exterior marketers and traders.
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Additional resources for Academic Entrepreneurship: University Spinoffs And Wealth Creation (New Horizons in Entrepreneurship Series)
In part, the low prices for university inventions reflect the fact that few university inventions attract multiple bidders (Jansen and Dillon, 1999), leaving universities to take the offers that they receive, or fail to license their technologies. The low prices also reflect the fact that these inventions are at such an early stage that they have very little value in the absence of additional development being undertaken by the licensor. Therefore earning a reasonable compensation from university inventions requires making an investment that will grow in value along with the value of the licensing organization.
For instance, Lowe (2002:54) quotes one University of California inventor who explains why he was more interested in developing technology through a spinoff than through license to an established company. ’ Of course Pangenix wouldn’t exist. But what do the companies get when they license from UC? When they license from [Pangenix], companies are guaranteed access to my experience . . If the university was licensing it around, we would be getting phone calls from people asking about problems. I wouldn’t be as sympathetic.
28 Academic entrepreneurship Other spinoffs financed the development of laboratories and donated equipment to the Institute. 6 Several researchers have even observed that many academic entrepreneurs view university spinoffs as a vehicle to obtain research funding. For instance, Blair and Hitchens (1998) report that, in the United Kingdom, many academics form companies because new companies are more likely to receive additional research funding than research groups or laboratories are to obtain grant money.