employees of the incumbent firms. By focusing on innovating spinouts identified through the inventor mobility in the patent data … technological lead spawn more successful spinouts. Building on these observations, I build a structural model of innovation and firm … spinouts. The spinout dynamics affect productivity growth through four main channels: direct entry, incumbents' disincentive …

The success of ?entrepreneurial clusters' has led policymakers towards extensive efforts to seed local entrepreneurship …. Indeed, studies consistently find that the most powerful predictor of future entrepreneurship for a city or region is the …, independently of their background. If heritage is the main force behind collocation, then spinouts will locate close to parent firms …

effort requires extensive and broad-based institutional reforms aimed at strengthening the incentives for entrepreneurship …. Innovative entrepreneurship requires collaborations with numerous agents that provide those skills and resources that the … markets, and (vi) human capital for entrepreneurship. The reforms would likely strengthen Europe's innovation capacity at a …