Venture Capital as a Catalyst to Commercialization
Abstract
We find that public research funding and venture capital have a complementary relationship in fostering innovation and the creation of new firms. Based on a panel of metropolitan areas in the United States from 1993 to 2002, we find that the positive relationships between government research grants and the rates of patenting and firm formation in a region become more pronounced as the supply of venture capital in that region increases. Our...
Paper Details
Title
Venture Capital as a Catalyst to Commercialization
Published Date
Jan 1, 2010
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