Economic development practitioners and scholars recognize the link between universities and regional economic development. It is predicated on the spillover of knowledge from universities to commercialization. The literature has focused on the supply side, which involves university research and...

Entrepreneurship involves innovation and uncertainty. We outline a theory of entrepreneurship, which highlights the importance of social networks in promoting innovation and reducing uncertainty. Our findings suggest that this “social” aspect of entrepreneurship increases the probability of...

Inadequate investment in innovation is particularly costly in today's globally competitive environment where continued technological advancements are critical to sustaining economic prosperity. The government has a critical role in ensuring that society's general interest in innovation, and the...

This paper presents a systematic analysis of the net economic benefits associated with the Small Business Innovation Research (SBIR) program. We offer a derivation of producer and consumer surplus to estimate economic benefits. Fundamental to the implementation of these models is a specific...

The purpose of this paper is to identify and unravel the disparate views toward innovation prevalent within the economic community and to link them to the various public policy approaches. These various schools of thought, or ways of thinking about the economy in general and the role of...

Research, science, and technology parks are increasingly seen as a means to create dynamic clusters that accelerate economic growth and international competitiveness through the transfer of knowledge and technology. As such, it is important to understand the academic literature related to...