University venture capital in big data, regional and historical perspective: where and why has it arisen?

IF 2.8 4区管理学 Q2 BUSINESS, FINANCE

Venture Capital Pub Date : 2023-05-03 DOI:10.1080/13691066.2023.2184287

H. Etzkowitz, Miranda Weston-Smith, Jim Beddows, E. Albats, Helen Lawton Smith, Jim Wilkinson, Jialei Yang, Joe Miller, Cannon Gardner, Emma Palmer Foster, Chunyan Zhou

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引用次数: 1

Abstract

ABSTRACT This article contributes to the international comparative analysis of university venture capital (UVC), providing a quasi-experimental design for follow-up research and practice. The US venture capital industry, with its unicorn focused high-growth format opened up a venture capital gap. UVC transmutes academic innovation into high-tech firms, industries and regional renewal, filling interstitial funding gaps among angel, public and private venture capital offers. It is a knowledge-based industrial policy by Another Name, with direct/explicit and indirect/implicit versions, on a continuum with variation depending upon shifting ideological and competitive concerns. Beyond as of right “womb” provision, UVC capstones an academic innovation ecosystem of technology transfer, incubation and acceleration, translational research, proof of concept funds and entrepreneurship education. Venture capital, exemplified by Sand Hill Road, de-emphasizes classic regional development objectives, neglecting appropriability conditions such as academic and regional circumstances that UK and China prioritize. More modest firm formation outcomes are dismissed as failures, with entrepreneurs encouraged to return to the entrepreneurial churn. We examine the origin and development of UVC from macro, meso and micro, historical and comparative perspectives. Multi-method/multi-sample, comparative case study, and big data analytics show the constraint, variety, and early affinity of UVC to academic icons with significant untapped potential to inspire widespread economic and social advance.

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大数据下的大学风险投资:地域和历史视角:它在哪里兴起，为什么兴起?

本文对高校风险投资进行国际比较分析，为后续研究和实践提供准实验设计。美国风险投资行业以独角兽为重点的高增长模式，打开了风险投资的缺口。UVC将学术创新转化为高科技公司、产业和地区复兴，填补了天使、公共和私人风险资本之间的资金缺口。这是一个以知识为基础的产业政策，有直接/明确和间接/隐含的版本，在一个连续体上，随着意识形态和竞争问题的变化而变化。除了提供正确的“子宫”外，UVC还建立了一个学术创新生态系统，包括技术转让、孵化和加速、转化研究、概念验证基金和创业教育。以沙丘路(Sand Hill Road)为例，风险投资不再强调经典的区域发展目标，忽略了英国和中国优先考虑的学术和地区环境等适宜性条件。更温和的公司形成结果被视为失败，企业家被鼓励回到创业的混乱中。我们从宏观、中观和微观、历史和比较的角度考察了UVC的起源和发展。多方法/多样本、比较案例研究和大数据分析显示了UVC对学术偶像的约束、多样性和早期亲和力，这些学术偶像具有巨大的未开发潜力，可以激发广泛的经济和社会进步。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Venture Capital BUSINESS, FINANCE-

CiteScore

4.10

自引率

16.70%

发文量

期刊介绍： Venture Capital publishes cutting edge research-based papers from academics and practitioners on all aspects of private equity finance such as: •institutional venture capital •informal venture capital •corporate venture capital •public sector venture capital •community venture capital It also covers all aspects of the venture capital process from investment decision to exit, including studies on: •investment patterns •investment decision-making •investment performance •realisation of investment value exit routes (including the relationship with junior capital markets such as NASDAQ, EASDAQ, AIM and Nouvelle March). •economic impact and public policy

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