In a forthcoming article in the Journal of Business Venturing, EMAC researchers Kolympiris, Kalaitzandonakes and Miller examine where university-employed scientists start their firms.

The authors find that proximity to venture capital firms and key research infrastructure, such as medical schools, may help to attract new firms and create entrepreneurial environments that can boost local employment and encourage economic growth at large.

Nevertheless, the personal characteristics of academic entrepreneurs dominate the choice of location. For instance, academic entrepreneurs at later stages of their career are considerably more likely to start their firm away from their academic homes. These findings, therefore, suggest that a deeper understanding of the location choice of firms spawned by universities may require more attention to the characteristics and incentives of the academic entrepreneurs that establish them.

A long stream of academic literature has established that public funding towards research and development matters for economic growth because it relates to increases in innovation, productivity and the like. In the recently published article “Public Funds and Local Biotechnology Firm Creation “ Kolympiris, Kalaitzandonakes and Miller demonstrate that increases in the level of funding for biotechnology research provided by the Federal Government are also closely related to increases in the number of biotechnology firm births in the US. (more…)