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The 68th GIST Seminar (GRIPS-NISTEP Joint Seminar) "Inventor Involvement in the Success of University-Based Startups"

The 68th GIST Seminar (GRIPS-NISTEP Joint Seminar)
Lecturer Dr. Kanetaka M. Maki (Research Associate of Asia-Pacific Research Center, Stanford University)
Time Thursday, October 15, 1:30 PM - 3:30 PM
Place National Graduate Institute for Policy Studies, 4th Floor, Room 4A (ACCESS)
Sponsorship National Graduate Institute for Policy Studies (GRIPS)・National Institute of Science and Technology Policy (NISTEP)
Language English
Participation fees Free (Pre-registration required)

Presentation Overview

Inventor involvement in the success of university-based startups has been a longstanding debate concerning its effectiveness. Proponents argue that inventor involvement increases the knowledge transfer to exploit new-to-the-world technologies. On the other hand, opponents point out that inventors' lack of business experience distracts the success of the startups. Conventionally, research streams focusing on the impact of inventor involvement have only evaluated success as a single outcome. However, new firms evolve through some milestone events that may occur prior to the success. We identify three key financially related milestones in the growth of any firm: reception of Small Business Innovation Research (SBIR) funding, venture capital funding and first sales by product launch. Each of these events impacts a firm's growth trajectory. We aim to reconcile two contradicting views of inventor involvement using a growth view of startups. The present study is based on the University of California Startup Dataset, which includes the entire population of startups based upon on University of California licensed technology after the year 2000. The impact of inventor involvement on the success of university-based startup (firm survival and exit) is explored. The results show that receipt of SBIR funding and first sales by product launch mediate the impact of inventor involvement on the survival rate of startups. In other words, having a greater proportion of the inventor involvement as founders of a startup firm increases the likelihood of receiving SBIR funding and launching a product, which in turn increases the likelihood of survival. However, this effect is only observed for biomedical startups. No mediation effect was found for firm exit; however, the results provide weak evidence that SBIR funding is the important intermediate step for explaining the impact of inventor involvement on the exit of startups.

Simplified personal history

Research Interests
Socio-economics of innovation & entrepreneurship, science policy, and university-industry technology transfer.
Biography
Kanetaka M. Maki is the Japan Program Research Associate at the Walter H. Shorenstein Asia-Pacific Research Center and an International Affiliated Fellow at National Institute of Science and Technology Policy (NISTEP).
Maki’s research interests are in the fields of socio-economics of innovation & entrepreneurship, science policy, and university-industry technology transfer. He has three streams of research contribution: (1) the institutional design of entrepreneurship in connection with research universities; (2) startup success rates; and (3) comparative quantitative research, in particular innovation streams in Japan.
Prior to coming to the US, Maki served as a Founding Chief Officer of SIV Entrepreneur Laboratory at Keio University in Japan. He has designed and overseen courses and programs on entrepreneurship at Keio University. Additionally, he actively involved as committee member of "Basic Research for Academic Entrepreneurship" hosted by Minister of Economy, Trading and Industry and several others to create effective academic entrepreneurship model in Japan.
Maki holds a Ph.D. in management from the University of California, San Diego. He received M.A. in Media and Governance and B.A. in Environmental Information, both from Keio University.

Application,Inquiry

Please fill in Registration Form.
If you cannot open the form, please send email to GIST Secretariat, gist-mlgrips.ac.jp. Registration email must include: 1) your name*, 2) institution*, 3) job title, and 4) contact information (email address or phone number)*.
*Required items
The application will be closed as soon as the number of applicants reaches the capacity.

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