The Emergence and Survival of High-Technology Ventures in Europe
Edited by Jan Ulijn, Dominique Drillon and Frank Lasch
Chapter 4: The Knowledge Marketplace: Understanding Interaction at the Academic–Industry Interface
4. The knowledge marketplace: understanding interaction at the academic–industry interface Michael C. Brennan and Pauric McGowan INTRODUCTION The widely reported importance of high-tech-based start-up ﬁrms (Tidd et al., 2005) is based on the observation that such ﬁrms contribute disproportionate added value to national and regional economies when compared to conventional start-ups. Such a contribution can be measured in a variety of ways – for example wealth creation, job creation and export performance. Such performance is based in part on the knowledge competence of the individual entrepreneurs who create such ﬁrms and in particular the often implicit or hidden relationships between high-tech entrepreneurs and academia. While the merit of researching such a relationship initially appears counterintuitive – in that such entrepreneurs would appear to gain little from a relationship with large, often traditional bureaucratic organizations – there is evidence that this relationship is extremely important in high-tech and knowledge-based ﬁrms (Cooper, 2000). Academia and individual academic institutions are a primary source of new knowledge production and innovation. High-tech entrepreneurs interact with academia in subtle and informal knowledge exchanges that are not always identiﬁable or appreciated by university managers. This knowledge exchange activity is becoming increasingly important given the changing role of universities within modern economies. We suggest that understanding knowledge exchange activity as part of a knowledge marketplace is an important foundational research activity in supporting high-tech start-ups at a regional and national level. The research domain that encompasses such foundational research can be broadly deﬁned as academic entrepreneurship. Further, that...
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