This project aims to estimate the welfare effects of this strategy in the biotechnology industry, using a structural model of the investment decisions of VCs during the drug development process and the product market for the successful drugs.…Read More
How should firms organize their pool of inventive human capital for firm-level innovation? Although access to diverse knowledge may aid knowledge recombination, which can facilitate innovation, prior literature has focused primarily on one way of achieving that: diversity of inventor-held knowledge within a given knowledge production team. …Read More
Emerging technologies are an important driver of economic growth. However, the process of their emergence may not only be characterized by technological progress but also by setbacks. We offer a perspective on technology emergence that explicitly incorporates setbacks into the technology’s evolution and explains how industry participants may react to setbacks in emerging technologies.…Read More
The emergence of biotech has resulted in a rich ecosystem of different types of actors contributing to the technological advance. Despite the enormous promise of biotech-based therapeutics, there is substantial uncertainty regarding when scientific discoveries will emerge, whether these discoveries will achieve clinical success, and how commercialized treatments will create value. …Read More
This paper focuses on how the use of renewable energy technologies such as biogas can help to achieve environmental and socio-economic sustainability. It combines research on sustainable consumption and production, natural and industrial ecosystems and renewable energy adoption. …Read More
Recent research by Senior Fellow Gary Dushnitsky measures the innovation success of new biotech ventures by tracking their patenting and publishing rates. He and coauthor Elisa Alvarez-Garrido find that the identity of the investor makes a big difference.…Read More
Biotech start-ups are a critical source of life-saving discoveries. What happens when VCs won’t fund them?…Read More
We empirically examine the innovation consequences of organizational knowledge brokering, the ability to effectively apply knowledge from one technical domain to innovate in another. We investigate how organizational innovation outcomes vary by founders’ initial mode of venture ideation.…Read More
Biotech startups increasingly turn to corporate venture capital (VC) arms for funding, rather than to traditional venture capitalists. The innovation implications for these startups remain unexplored. Here, we present evidence that the shift in funding patterns is associated with a greater output of scientific publications as well as patenting.…Read More
