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* We would like to thank the firms who participated in our Commercialization Strategies survey for their time and effort. two referees, and participants at various universities provided useful comments and suggestions. We also gratefully acknowledge funding from the MIT Center for Innovation in Product Development under NSF Cooperative Agreement(More)
This paper presents a synthetic framework identifying the central drivers of start-up commercialization strategy and the implications of these drivers for industrial dynamics. We link strategy to the commercialization environment – the microeconomic and strategic conditions facing a firm that is translating an " idea " into a value proposition for(More)
1 The authors contributed equally to the writing of this paper and are listed alphabetically. An earlier version of this paper was presented at the micro-economics workshop at Purdue University. We would like to thank ABSTRACT The results of this study provide insight into why some universities generate more new companies to exploit their intellectual(More)
T his paper examines the possible impact of venture capital (VC) backing on the commercialization direction of technology-based start-ups by asking: To what extent (if at all) do VC-funded start-ups engage in cooperative commercialization strategies (strategic alliances or technology licensing, or both) relative to a comparable set of start-ups, and with(More)
Many financial markets are characterized by strong relationships and networks, rather than arm's-length, spot market transactions. We examine the performance consequences of this organizational structure in the context of relationships established when VCs syndicate portfolio company investments. We find that better-networked VC firms experience(More)
I investigate how different sources of information inuence the diffusion of pharmaceutical innovations. In prescription-drug markets, both advertising and scientic information stemming from clinical trials can affect physicians' prescription choices. Using novel indices of clinical-research output, I nd that both marketing and scientic evidence directly(More)
This paper considers the impact of the intellectual property (IP) system on the timing of cooperation/licensing by start-up technology entrepreneurs. If the market for technology licenses is efficient, the timing of licensing is independent of the patent grant date, and productive efficiency considerations will result in licensing as early as possible after(More)