Erschienen in:Ewing Marion Kauffman Foundation Research Paper
Umfang:
1 Online-Ressource (14 p)
Sprache:
Englisch
DOI:
10.2139/ssrn.1734900
Identifikator:
Entstehung:
Anmerkungen:
Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments July 1, 2010 erstellt
Beschreibung:
I compare a variety of investor types and their impact on new firm invention and innovation. I develop and test hypotheses linking different investor types to new firm outcomes using a novel longitudinal dataset of 198 minimally invasive surgical device firms between 1986 and 2007. I find that technology-focused investors promote invention while commercially-focused investors are more beneficial to innovation. I also find that although some investors (VCs) help innovation, other investors (the government's SBIR program) hurt it. My findings suggest that new firms should be cautious: obtaining resources from some investors may prevent new firms from accomplishing their goals