The Life Cycle of New Ventures

The Life Cycle of New Ventures

Emergence, Newness and Growth

Edited by Candida G. Brush, Lars Kolvereid, L. Øystein Widding and Roger Sørheim

The contributors to this book provide a cross-national comparison of venture emergence, newness and growth. Their chapters examine the influences of cultural, social and economic factors on venture development, compare the approaches of entrepreneurs who move from idea to emerging organization, and investigate acquisition and development of resources in growth and performance.

Chapter 4: Models for Government Support to Promote the Commercialization of University Research: Lessons from Norway

Einar Rasmussen and Mark P. Rice

Subjects: business and management, entrepreneurship, international business


Einar Rasmussen and Mark P. Rice INTRODUCTION It is a clear international trend that universities are expected to take on technology transfer and commercialization of research as a part of their mission in addition to teaching and research (Etzkowitz et al., 1998). This trend is partially induced by government policies and initiatives (Rasmussen et al., 2008) and many countries have numerous schemes that partly or fully are targeted to support the commercialization of publicly funded research (Feldman et al., 2002; Wright et al., 2007). European programs often seek to emulate the perceived US capacity for commercializing research results (Mustar et al., 2008). In the USA many universities and their Technology Transfer Offices (TTOs) take an active role in promoting research commercialization and national initiatives such as the SBIR program have successfully contributed to fostering academic entrepreneurship (Toole and Czarnitzki, 2007). Apart from the fact that the number of government support programs and the resources invested in these has increased radically, there remains much work in integrating disparate practices into conceptual models that can lead to improved performance of these programs and improved return on investment of resources. Universities and countries vary enormously in their approaches to facilitate university technology transfer (Geuna and Muscio, 2009), and the initiatives are based on benchmarking and experimenting, rather than conceptual frameworks. In the next section we discuss key issues and barriers related to university technology transfer and commercialization. Then we present the Norwegian initiatives to promote commercialization of university research. Based on the Norwegian...

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