A new model of economic growth introduces the knowledge filter between new knowledge and economically useful knowledge. It identifies both new ventures and incumbent firms as the mechanisms that penetrate the knowledge filter. Recent empirical work has shown that new firms are more proficient at...

New knowledge in the form of products, processes and organizations leads to opportunities that can be exploited commercially. However, converting new ideas into economic growth requires turning new knowledge into economic knowledge that constitutes a commercial opportunity. Acs, Audretsch,...

A spatial econometric method is used to determinewhether new ventures matter more than incumbent firms in allowing knowledgespillovers to contribute to economic growth. The model introduces a"knowledge filter" between new knowledge and economic knowledge thatconstitutes a commercial opportunity....

Modeling the spatial aspect of growth has finally become an important subject of economics as exemplified by the increasing popularity of the new economic geography. However, new economic geography models have still not been able to develop a consistent approach to integrate innovation, space...

Contemporary theories of entrepreneurship generally focus on the decision-making context of the individual. The recognition of opportunities and the decision to commercialize them is the focal concern. While the prevalent view in the entrepreneurship literature is that opportunities are...