The conventional view of science-based businesses focuses on the inseparability of the roles of the inventor generating the underlying idea and the Schumpeterian entrepreneur who implements it in practice. We present an equilibrium model of science-based entrepreneurship where scientific ideas...

We present a model of science-based entrepreneurship where ideas initially produced by researchers with high-level knowledge capital may be developed by high-ability entrepreneurs. With moderate investment costs, startups continuously managed by inventors-founders coexist in equilibrium with...

This study explores the use of initial funding sources, using a unique sample of various types of start-up firms in Japan obtained from multiple surveys. We provide evidence on differences in the use of initial funding sources and their determinants across start-up firms, estimating a...