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To link to full-text access for this article, visit this link: http://dx.doi.org/10.1016/j.respol.2007.02.008 Byline: Frank T. Rothaermel (a), Marie Thursby (b) Keywords: Capability development; Research productivity; R&D investments; Alliances and acquisitions; Tacit knowledge Abstract: Does the adaptation of incumbent firms to new methods of inventing follow similar patterns across industries and inventions? We investigate this question in the context of the revolutionary scientific advances enabling biotechnology and nanotechnology, both of which represent inventions of methods of inventing for incumbent firms. We hypothesize that an incumbent firm's ability to exploit these new methods of invention depends initially on access to tacit knowledge on how to employ the new methods. Over time, however, as firms learn and/or the knowledge becomes codified in routine procedures or commercially available equipment, inventive output is more highly dependent on traditional R&D investments. We empirically test these hypotheses on two longitudinal samples over the 21-year time period between 1980 and 2000: 80 incumbent pharmaceutical firms generating 15,607 biotechnology patents, and 249 firms across a diverse set of industries that were granted a total of 3236 nanotechnology patents. We find broad support for our conjectures. Author Affiliation: (a) College of Management, Georgia Institute of Technology, Atlanta, GA 30308-1149, USA (b) College of Management, Georgia Institute of Technology, Atlanta, GA 30308-1149, and NBER, USA

The impact of commercialization of technology of universities, on performance of science parks, is examined.

To link to full-text access for this article, visit this link: http://dx.doi.org/10.1016/j.respol.2005.05.012 Byline: Frank T. Rothaermel (a), Marie Thursby (a)(b) Keywords: Incubator firm performance differentials; University linkages; Commercialization of university technology; New venture creation Abstract: One of the theoretically important factors for incubator firm performance is the strength of their linkages to the research university sponsoring the technology incubator. Herein, we focus on two types of university linkages to the sponsoring institution: a license obtained from the university and a link to university faculty, while controlling for incubator firm linkages to non-sponsoring research universities, among other factors. We propose that a university link to the sponsoring institution reduces the probability of new venture failure and, at the same time, retards timely graduation. Further, we suggest that these effects are more pronounced the stronger the university link. Due to the difficulty of obtaining fine-grained longitudinal data, the incubation literature is characterized by a dearth of studies focusing on incubator firm differential performance. We attempt to take a first step towards closing this gap by testing these hypotheses through following 79 start-up firms incubated in the Advanced Technology Development Center at the Georgia Institute of Technology over the 6-year period between 1998 and 2003. We find broad support for the hypotheses advanced. Author Affiliation: (a) College of Management, Georgia Institute of Technology, Atlanta, GA 30332-0520, USA (b) NBER, Cambridge, MA 02138, USA

The impact of University research knowledge flow on firm's ability is examined.

To link to full-text access for this article, visit this link: http://dx.doi.org/10.1016/j.respol.2004.11.006 Byline: Frank T. Rothaermel (a), Marie Thursby (b) Abstract: Technology incubators are university-based technology initiatives that should facilitate knowledge flows from the university to the incubator firms. We thus investigate the research question of how knowledge actually flows from universities to incubator firms. Moreover, we assess the effect of these knowledge flows on incubator firm-level differential performance. Based on the resource-based view of the firm and the absorptive capacity construct, we advance the overarching hypothesis that knowledge flows should enhance incubator firm performance. Drawing on longitudinal and fine-grained firm-level data of 79 technology ventures incubated between 1998 and 2003 at the Advanced Technology Development Center, a technology incubator sponsored by the Georgia Institute of Technology, we find some support for knowledge flows from universities to incubator firms. Our evidence suggests that incubator firms' absorptive capacity is an important factor when transforming university knowledge into firm-level competitive advantage. Author Affiliation: (a) College of Management, Georgia Institute of Technology, Atlanta, GA 30308-0520, USA (b) Georgia Institute of Technology and NBER, USA

Companies base their decisions to locate R&D on a variety of factors, principally: market potential, quality of R&D staff, university collaboration, and intellectual property protection. While lower cost can be [...]