Abstract
This paper explores one of Edwin Mansfield’s enduring interests: the interface between academia and industry. It highlights some key lessons regarding the management of university-based spin-outs, drawing on a variety of sources. I highlight the challenges that the spin-off process poses, the impracticality of directly financing firms through internal venture funds, and the ways in which universities can add value to faculty ventures.
This essay is based in part on Paul Gompers and Josh Lerner, The Money of Invention, Boston, Harvard Business School Press, 2001, and Josh Lerner, “Venture Capital and the Commercialization of Academic Technology: Symbiosis and Paradox” in Lewis M. Branscomb, editor, Industrializing Knowledge: University-Industry Linkages in Japan and the United States, Cambridge: MIT Press, pp. 385–409.
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References
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Lerner, J. (2005). The University and the Start-Up: Lessons from the Past Two Decades. In: Link, A.N., Scherer, F.M. (eds) Essays in Honor of Edwin Mansfield. Springer, Boston, MA. https://doi.org/10.1007/0-387-25022-0_16
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DOI: https://doi.org/10.1007/0-387-25022-0_16
Publisher Name: Springer, Boston, MA
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