A model for entrepreneurial spin-offs from public technology sources
by Raymond Radosevich
International Journal of Technology Management (IJTM), Vol. 10, No. 7/8, 1995

Abstract: This paper presents a model of the entrepreneurial mode for the commercialization of public-sector technology. The model is derived from more than a decade of experiments in promoting the commercialization of technology from the federal laboratories located in the State of New Mexico, USA. The experiments have resulted in a fragmented but consequential local support infrastructure for new ventures. Two critical elements are still well below the critical mass required to stimulate and support a substantial flow of new ventures: (1) risk capital devoted to technology-based ventures, and (2) technical entrepreneurs. This paper explores the availability and creation of a cadre of technical entrepreneurs able to commercialize the business opportunities created by proprietary positions in technology developed at the federal laboratories. A model of two kinds of entrepreneurs is developed and discussed: (1) inventor-entrepreneurs who are or were laboratory employees and who actively seek to commercialize their own inventions, and (2) surrogate-entrepreneurs who are not the inventors but who acquire rights to the federally-sponsored technology.

Online publication date: Sat, 23-May-2009

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