IZA DP No. 2992: A Study of Academic Entrepreneurs Using Venture Capital Data
published under the title 'Why Do Some U.S. Universities Generate More Venture-Backed Academic Entrepreneurs than Others?' in: Venture Capital, 2009, 11(2), 133-162
Academic entrepreneurship has become an increasingly important channel through which universities contribute to economic development. This paper studies academic entrepreneurs using a comprehensive venture capital database. I find that about two-thirds of the academic entrepreneurs locate their businesses in the same state as their universities. National academy membership and number of faculty awards, measures of a university’s research quality, are the most significant variables in explaining the number of academic entrepreneurs from a university. In contrast, the abundance of venture capital near the university has no significant effect on academic entrepreneurship.