Authors: Raymond Radosevich
Addresses: Professor of Management, R.O. Anderson Schools of Management, University of New Mexico, Albuquerque, New Mexico 87131, USA
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.
Keywords: technical entrepreneurship; technology transfer; public sector technology; risk capital; technology commercialisation; surrogate entrepreneurship; spinoffs; technology management; federal laboratories; USA; United States; new ventures; technopreneurs.
International Journal of Technology Management, 1995 Vol.10 No.7/8, pp.879 - 893
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