By Scott Andrew Shane
In the course of my tenure at Cornell University's Entrepreneur In place of dwelling, i discovered Scott Shane's e-book to be a invaluable source filled with facts and perception.
Read or Download Academic Entrepreneurship: University Spinoffs and Wealth Creation (New Horizons in Entrepreneurship Series,) PDF
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Additional resources for Academic Entrepreneurship: University Spinoffs and Wealth Creation (New Horizons in Entrepreneurship Series,)
However, this job creation is unevenly distributed across universities. MIT estimates that its roughly 100 spinoffs founded from 1980 to 1997 created 8721 jobs by 1997, whereas Columbia University’s 46 spinoff companies, none of which was founded before the mid1990s, have created only 300 jobs (Golub, 2003). Inventor involvement in technology development by the spinoff may be most effective if the inventor takes on the role of chief technology officer rather than the role of chief executive officer.
They found that the mean value of university equity holdings in spinoffs that went public was $1 284 242, a figure 20 times that of the initial licensing issue fee. Bray and Lee (2000) also examined the returns from 12 companies that the University of Washington held equity in between 1984 and 1996. 26 million in equity in the remaining six firms when they went public. As a result, the authors estimated that the average income produced by the sale of equity in the spinoff companies was $688 000, a significantly larger number than the initial license fees charged to establish firm licensees (Bray and Lee, 2000).
Spinoffs Enhance the Commercialization of University Technologies University spinoffs are also valuable entities because they enhance the commercialization of university technologies that would otherwise go undeveloped. Researchers have identified two ways that spinoffs enhance the development of technology. First, they provide a mechanism for firms to commercialize inventions that are too uncertain for established companies to pursue. Second, they provide a way to ensure inventor involvement in the subsequent development of university technologies, which is crucial when technologies are based on tacit knowledge.
Academic Entrepreneurship: University Spinoffs and Wealth Creation (New Horizons in Entrepreneurship Series,) by Scott Andrew Shane