TY  - JOUR
AU  - Toole, Andrew A
AU  - Czarnitzki, Dirk
TI  - Biomedical Academic Entrepreneurship Through the SBIR Program
JF  - National Bureau of Economic Research Working Paper Series
VL  - No. 11450
PY  - 2005
Y2  - July 2005
DO  - 10.3386/w11450
UR  - http://www.nber.org/papers/w11450
L1  - http://www.nber.org/papers/w11450.pdf
N1  - Author contact info:
Andrew Toole
US Patent and Trademark Office
600 dulany street
alexandria, VA 22314
Tel: 571-272-8841
E-Mail: Andrew.toole@uspto.gov

Dirk Czarnitzki
KU Leuven
Dept. of Management, Strategy and Innovation
Naamsestraat 69
3000 Leuven
Belgium
Tel: 32 16 326 906
Fax: 32 16 326 732
E-Mail: dirk.czarnitzki@kuleuven.be
M1  - published as Andrew Toole, Dirk Czarnitzki. "Biomedical Academic Entrepreneurship through the SBIR Program," in Adam Jaffe, Josh Lerner, Scott Stern, Marie Thursby, organizers, "Academic Science and Entrepreneurship: Dual Engines of Growth" Journal of Economic Behavior and Organization, 63(4) (Elsevier) (2007)

AB  - This paper considers the U.S. Small Business Innovation research (SBIR) program as a policy fostering academic entrepreneurship. We highlight two main characteristics of the program that make it attractive as an entrepreneurship policy: early-stage financing and scientist involvement in commercialization. Using unique data on NIH supported biomedical researchers, we trace the incidence of biomedical entrepreneurship through SBIR and describe some of the characteristics of these individuals. To explore the importance of early-stage financing and scientist involvement, we complement our individual level data with information on scientist-linked and non-linked SBIR firms. Our results show that the SBIR program is being used as a commercialization channel by academic scientists. Moreover, we find that the firms associated with these scientists perform significantly better than other non-linked SBIR firms in terms of follow-on venture capital funding, SBIR program completion, and patenting.
ER  -