Academic Entrepreneurship
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Academic Entrepreneurship

Translating Discoveries to the Marketplace

Edited by Phillip H. Phan

Academic entrepreneurship is a multifactorial and multidimensional phenomenon. This book presents research featuring aspects of academic entrepreneurship at the regional, institutional, and organizational levels of analysis. Phillip H. Phan and the authors illustrate that the more interesting aspects of this subject are in the ‘tails of the distribution,’ where counter-intuitive findings from the data call simple theories into question and inspire a vigorous discussion of alternatives.
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Chapter 3: When do biotechnology ventures pursue international R & D alliances?

Hakan Ener and Ha Hoang


Technology ventures often develop products domestically and license them out to large companies for worldwide commercialization. However, international R & D alliances provide an alternative – potentially more rewarding – path to foreign markets. We hypothesize that this path is especially attractive for firms underperforming in terms of product development success relative to aspirations. Our regression analyses in a sample of US-based biotechnology ventures reveal that low performance leads ventures to partner internationally while high-performing ventures refrain from international research and development (R & D) alliances. Thus, pursuing a novel product commercialization.

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