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1. Translational research: from basic research to regional biomedical entrepreneurship

   https://doi.org/10.1007/s11187-022-00676-9  

   Park, Sang-Min; Vonortas, Nicholas S. (August 2022, Small Business Economics)

   This paper examines the effect of translational research on knowledge production and biomedical entrepreneurship across U.S. regions. Researchers have earlier investigated the outputs of translational research by focusing on academic publications. Little attention has been paid to linking translational research to biomedical entrepreneurship. We construct an analytical model based on the knowledge spillover theory of entrepreneurship and the entrepreneurial ecosystem approach to examine the relationship between translational research, biomedical patents, clinical trials, and biomedical entrepreneurship. We test the model across 381 U.S. metropolitan statistical areas using 10 years of panel data related to the NIH Clinical and Translational Science Awards (CTSA) program. CTSA appears to increase the number of biomedical patents and biomedical entrepreneurship as proxied by the NIH Small Business Innovation Research (SBIR) grants. However, the magnitudes of the effects are relatively small. Path analysis shows that the effect of translational research on regional biomedical entrepreneurship is not strongly conveyed through biomedical patents or clinical trials. 

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2. Postdoctoral Fellowship Boosts Underrepresented Entrepreneurs

   Ivanitzki, T.; Johnson, R. (January 2021, Prism)

   Miller, E. (Ed.)

   On the list of racial and ethnic injustices requiring attention in the U.S., venture capital funding is probably not top-of-mind for many. But it is an area needing reform in order to diversify the leadership of companies fueling innovation in the country. Hispanic or Black entrepreneurs receive just 1 percent of venture capital, according to former administrator of the Small Business Administration Maria Contreras-Sweet. “Does anyone honestly believe these communities are the source of just 1 percent of our best business ideas?”. To expand overall entrepreneurship, accelerate innovation, and increase the participation of underrepresented groups in new startup research and high-tech entrepreneurship, the National Science Foundation selected ASEE to manage the Innovative Postdoctoral Entrepreneurial Research Fellowship (IPERF) program in 2019. The goals: emphasize the professional development of underrepresented research Fellows, advance best practices in postdoctoral programs, and expand the participation of underrepresented scholars in innovative research and technology entrepreneurship 

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3. Inclusion of Underrepresented Entrepreneurial-minded Postdocs in High-tech Startups Increases U.S. Competitiveness

   https://doi.org/10.34297  

   Ivanitzki, T; Johnson, R; Levitin, R. (October 2021, American journal of biomedical science research)

   null (Ed.)

   Studies have shown that in the U.S., Black, Hispanic, and women entrepreneurs are given a tiny fraction of venture capital funding, which is vastly disproportionate to their representation in the population. This investment discrepancy is not only socially unjust, but it also deprives the U.S. of the advantages in innovation and global competitiveness that could stem from increasing the participation of these groups in innovative sectors. This is particularly true within transdisciplinary startups, including those focused on smart energy, biomedical, and nanomedical technologies, all of which require cross-disciplinary experts. Every new enterprise in these fields experiences challenges in finding adequate support. These challenges exist at a time in the 21st century when U.S. innovation is facing unprecedented pressures in competition for primacy. In 1960, U.S. R&D expenditure for defense and private industries was approximately 69 percent of global spending on R&D [1]; whereas in 2016, the U.S. share of global R&D expenditure had decreased to just 28 percent [2], due to China’s substantial advances in R&D. If this trend continues, both China’s GDP and R&D expenditure measured by GDP will outperform those of the U.S. by 2030 [3]. To ensure that the U.S. remains a world leader in R&D, the National Science Foundation (NSF) launched the Innovative Postdoctoral Entrepreneurial Research Fellowship (I-PERF) program. I-PERF facilitates the professional development of Black, Hispanic and female research fellows, who are typically underrepresented within STEM fields, by offering them invaluable experience within research and technology companies. The program’s goal is to enhance diversity in the startup and entrepreneurial landscapes, improve opportunities for researchers from underserved groups, and increase the number of highly competent entrepreneurs within the U.S. STEM community. The startup companies involved in the program, which are also supported by the NSF, comprise a variety of new, mixed STEM fields that were unknown just a few decades ago. 

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4. The Roots of Entrepreneurial Career Goals among Today’s Engineering Undergraduate Students.

   Rameseder, G.; Sheppard, S.; Reithmann, M.; Brubaker, R. (January 2017, Proceedings of the American Society for Engineering Education Annual Conference, June 25-28. Columbus, OH.)

   This study examines the roots of entrepreneurial career goals among today’s U.S. undergraduate engineering students. Extensive literature exists on entrepreneurship education and on students’ career decision making, yet little work connects the two. To address this gap, we explore a sample of 5,819 undergraduate engineering students from a survey administered in 2015 to a nationally representative set of twenty-seven U.S. engineering schools. We identify how individual background measures, occupational learning experiences, and socio-cognitive measures such as self-efficacy beliefs, outcome expectations, and interest in innovation and entrepreneurship affect students’ entrepreneurial career focus. Based on career focus, the sample is split into “Starters” and “Joiners” where Starters are students who wish to start a new venture and Joiners are those who wish to join an existing venture. Results show the demographic, behavioral, and socio-cognitive characteristics of each group. Findings suggest that relative to Joiners, Starters have stronger occupational self-efficacy beliefs which are driven by higher interests in innovation-related activities and ascribing greater importance to involvement in innovation practices early in their careers. Additionally, the significant influence of particular learning experiences is discussed. These results have implications for engineering and entrepreneurship education. (This paper earned Best Research Paper Award, 3rd Place, in the ENT division.) 

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5. A policy mix experiment to promote start-up success: exploratory evaluation of the NSF Small Business Innovation Research (SBIR)/Industry University Cooperative Research Center (IUCRC) membership supplement

   https://doi.org/10.1007/s10961-020-09794-6  

   Gray, Denis; McGowen, Lindsey; Michaelis, Timothy L.; Leonchuk, Olena; Rivers, Drew (January 2020, The Journal of Technology Transfer)

   This paper investigates the outcomes of a policy experiment, the NSF SBIR/IUCRC Membership Supplement, designed to promote the success of small high-tech entrepreneurial ventures by providing subsidized memberships in university-based cooperative research centers (IUCRCs). Data collected via semi-structured interviews with representatives of 61 Small Business Innovation Research (SBIR) firms indicated that SBIR firms who used the supplement to join an IUCRC reported multiple R&D benefits including research cost avoidance, research savings, and access to expensive equipment. A vast majority of SBIR firms also reported realizing or anticipated realizing commercial benefits (e.g., new investors, new products, and improvements to existing products). As suggested by social capital theory, SBIR firms reported that the policy mix experiment helped them make new connections with faculty and industry. Following our qualitative results, a structural equation model was applied to test the effect of social capital as an antecedent of SBIR firm R&D and commercialization outcomes. Results suggested that the SBIR firms who developed more social capital through interactions with faculty and industry members realized significantly more R&D and commercialization benefits. Further, commercialization benefits mediated the relationship between social capital and the SBIR firm’s perceived return on investment. Overall, this study demonstrates the feasibility of subjecting mixed policy interventions to evaluative scrutiny and provides evidence that such instruments can have substantive and positive effects on small high-tech entrepreneurial ventures. We discuss implications for social capital theory, policy mix initiatives and entrepreneurship policy. 

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