89 research outputs found

    Bottom-Up vs. Top-Down Policies towards the Commercialization of University Intellectual Property

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    What national policies are most efficient in promoting the commercialization of university-generated knowledge? We address this question by characterizing and evaluating the policy pursued in Sweden and the US, two countries that put a great deal of resources into university R&D, but follow very different models for commercialization. Despite a leading academic record, there is an impression of laggard rates of commercialization of academic research results in Sweden. Although there exist no micro data to evaluate this impression, we argue that it is likely to be true in part due to the top-down nature of Swedish policies aimed at commercializing these innovations as well as an academic environment that discourages academics from actively participating in the commercialization of their ideas. This sits in stark contrast to a US institutional setting characterized by competition between universities for research funds and research personnel, which in turn has led to significant academic freedoms to interact with industry, including significant involvement in new firms.Academic entrepreneurship; Innovation; Intellectual property; R&D; Spin-off firms; Technology transfer; University-industry relations; Universities and business formation

    Demand vs. Supply Driven Innovations: US and Swedish Experiences in Academic Entrepreneurship

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    Measured by per-capita publication measures, Sweden is an academic powerhouse. Hence, its inability to commercialize on these accomplishments is a puzzle. This paper attributes this failure to the top-down nature of Swedish policies aimed at commercializing these innovations as well as an academic environment that discourages academics from actively participating in the commercialization of their ideas. This sits in stark contrast to the US institutional setting that is characterized by competition between universities for research funds and research personnel, which in turn has led to significant academic freedoms to interact with industry, particularly by founding new firms. We conclude that the technocratic, supply-driven nature of attempts to exploit academic output in Sweden has been markedly less successful than the demand-driven market institutions in the US.Academic entrepreneurship; Innovation; R&D; Spin-off firms; Technology transfer; University-industry relations; Universities and business formation

    Appropriability and Commercialization: Evidence from MIT Inventions

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    At least since Arrow (1962), the effects of appropriability on invention have been well studied, but there has been little analysis of the effect of appropriability on the commercialization of existing inventions. Exploiting a database of 805 attempts by private firms to commercialize inventions licensed from MIT between 1980 and 1996, we explore the influence of several appropriability mechanisms on the commercialization and termination of projects to develop products based on university inventions. We construct a theoretical model in which the licensee faces technical and market uncertainty, and anticipates that its products will be imitated. We characterize the hazards of commercialization and termination as functions of appropriability mechanisms, including patent scope and the effectiveness of patents as well as learning, lead time, and secrecy in attaining competitive advantage. The model is tested using a competing risks framework that allows for non-parametric unobserved heterogeneity and correlated risks. In our sample, patent strength and secrecy influence termination decisions, while learning, patent scope and lead time influence commercialization decisions.hazard rates, innovation, optimal stopping problem, patent scope, university licensing, termination

    Appropriability and the timing of innovation: Evidence from MIT inventions

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    At least since Arrow (1962), the effects of appropriability on invention have been well studied, but there has been little analysis of the effect of appropriability on the commercialization of existing inventions. Exploiting a database of 805 attempts by private firms to commercialize inventions licensed from MIT between 1980 and 1996, we explore the influence of several appropriability mechanisms on the commercialization and termination of projects to develop products based on university inventions. Our central hypothesis is that the relationship between a licensee's decision to either terminate or commercialize the invention is driven by the current market value of the invention, as well as the option value of delaying its commercialization. We use a competing risks framework that allows for non- parametric heterogeneity and correlated risks. We find that better appropriability in the sense of more effective patent strength and secrecy has a strong negative effect on the hazard of license termination. The effectiveness of learning has a strong positive effect on the hazard of technology commercialization, while lead time has a negative effect.

    Appropriability and the timing of innovation: Evidence from MIT inventions

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    At least since Arrow (1962), economists have believed that strong property rights are necessary for firms to invest in innovation. This belief was a key principle underlying the Bayh-Dole Act, which gave universities the right to own and license federally funded inventions, because the commercialization of university inventions requires private firm investment in development, given the early stage of these inventions at the time that they are licensed. However, surprisingly little research has examined this key principle. In this paper, we exploit a database of 805 attempts by private firms to commercialize inventions licensed exclusively from MIT between 1980 and 1996 to address this issue. The data allow us to examine the timing of subsequent commercialization or termination of the licenses to these inventions as a function of the length of patent protection, as well as other measures of appropriability. We model the firm’s investment decision as an optimal stopping problem, and we characterize the hazard rates of first sale and termination over time. In both the theory and the empirical analysis, we find two opposing effects of time. The length of patent protection provides an incentive for the firm to invest that declines with time; while the probability of technical success increases in each period that the firm invests. Competing risks models to predict the resulting hazards of first sale and termination reveal that, for these data, the hazard of first sale has an inverted u-shape and the hazard of termination has a u-shape. We find that increased appropriability, as measured by Lerner’s index of patent scope and effectiveness of patents in a line of business, decrease the hazard of termination and increase the hazard of first sale

    Association between frequency of telephonic contact and clinical testing for a large, geographically diverse diabetes disease management population

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    Diabetes disease management (DM) programs strive to promote healthy behaviors, including obtaining hemoglobin A1c (A1c) and low-density lipoprotein (LDL) tests as part of standards of care. The purpose of this study was to examine the relationship between frequency of telephonic contact and A1c and LDL testing rates. A total of 245,668 members continuously enrolled in diabetes DM programs were evaluated for performance of an A1c or LDL test during their first 12 months in the programs. The association between the number of calls a member received and clinical testing rates was examined. Members who received four calls demonstrated a 24.1% and 21.5% relative increase in A1c and LDL testing rates, respectively, compared to members who received DM mailings alone. Response to the telephonic intervention as part of the diabetes DM programs was influenced by member characteristics including gender, age, and disease burden. For example, females who received four calls achieved a 27.7% and 23.6% increase in A1c and LDL testing, respectively, compared to females who received mailings alone; by comparison, males who were called achieved 21.2% and 19.9% relative increase in A1c and LDL testing, respectively, compared to those who received mailings alone. This study demonstrates a positive association between frequency of telephonic contact and increased performance of an A1c or LDL test in a large, diverse diabetes population participating in DM programs. The impact of member characteristics on the responsiveness to these programs provides DM program designers with knowledge for developing strategies to promote healthy behaviors and improve diabetes outcomes

    The Social Effects of Entrepreneurship on Society and Some Potential Remedies: Four Provocations

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    A rapidly growing research stream examines the social effects of entrepreneurship on society. This research assesses the rise of entrepreneurship as a dominant theme in society and studies how entrepreneurship contributes to the production and acceptance of socio-economic inequality regimes, social problems, class and power struggles, and systemic inequities. In this article, scholars present new perspectives on an organizational sociology-inspired research agenda of entrepreneurial capitalism and detail the potential remedies to bound the unfettered expansion of a narrow conception of entrepreneurship. Taken together, the essays put forward four central provocations: 1) reform the study and pedagogy of entrepreneurship by bringing in the humanities; 2) examine entrepreneurship as a cultural phenomenon shaping society; 3) go beyond the dominant biases in entrepreneurship research and pedagogy; and 4) explore alternative models to entrepreneurial capitalism. More scholarly work scrutinizing the entrepreneurship–society nexus is urgently needed, and these essays provide generative arguments toward further developing this research agenda

    Remote physiological monitoring: Clinical, financial, and behavioral outcomes in a heart failure population

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    This article reports on the outcomes associated with remote physiological monitoring (RPM) conducted as part of a heart failure disease management program. Claims data, medical records, data transmission records, and survey results for 91 individuals ages 50–92 (mean 74 years) successfully completing a heart failure RPM program were analyzed for time periods before, during, and after the monitoring intervention. The program was associated with significant reductions in per member per month costs and emergency room and hospital utilization. More detailed analyses were performed for specific gender and age subgroups. Participant surveys indicated high levels of satisfaction, and improvements in self-perceived health status, self-efficacy, and self-management behaviors. This study is the first to assess the impact of a RPM program following removal of the monitoring equipment. The results indicate that RPM, as a component of a traditional disease management program, has a sustained, beneficial effect on participants’ lifestyles after the monitoring period has ended
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