Predicting Future Technopreneurs Among Inventors

Abstract

High-technology new firms are an important source of strong economic value and spillovers. It is therefore theoretically and practically important to understand the antecedents to their creation. This study focuses on understanding attitudinal, situational and personal characteristics associated with entrepreneurial activity by academic inventors. We surveyed patent holders and examined differences between entrepreneur inventors (EIs) and non-entrepreneur inventors (NEIs) in many dimensions. In demographic variables, EIs are more likely male, who have had a career in academic institutions. They were actively involved in technology development with grants used to validate the commercial potential of the technology and in a large number of contacts in the industry. They were also involved in business activities outside of their employment that required technical skills. EIs who had commercialization support from their regions were more likely to become entrepreneurs. The ones who exhibited innovative behavior were also more likely to become entrepreneurs. We used these differences to predict inventors who were more likely to become entrepreneurs using these demographic, personal characteristics, situational and attitudinal descriptors using discriminant functions with very good success. The model to forecast the inventors’ likely path to commercializing their technologies can have practical implications for universities and public policy-makers.