The Impact of Science-Based Entrepreneurial Firms -a Review and Policy Synthesis

How to convert scientific and technological knowledge developed in public research institutions into economic and societal impact is a key concern for both research and innovation policy. Policy makers and universities have spent considerable resources to promote the creation of science-based entrepreneurial firms (SBEFs) as a tool to create value from investments made in research. In Norway, more than one billion kroner has been invested in the FORNY-program to promote SBEFs since 1995 and most universit ies and larger research institutes have established technology transfer offices (TTOs) with an explicit aim of promoting SBEFs. The impact of SBEFs is, however, highly debated among both practitioners and researchers. Some argue that SBEFs plays an import ant role in terms of revenue and job creation, but also as technology transfer agents. Thus, SBEFs are seen to play an important role in the innovation system by transforming scientific knowledge into application. Others question the impact of SBEFs and a rgue that exceptional success stories cannot be generalized and that most SBEFs are technology lifestyle firms that remain small, despite strong public support. The goal of this project is to synthesize the international literature on SBEFs and their dire ct and indirect impact. In particular, we will key into the potential role of SBEFs as technology transfer agents between research and industrial application. Particular attention will be given to the methods and indicators used to measure the impacts of SBEFs. The project will also compare the findings from the scientific literature with recent evaluations and policy documents from Norway and provide policy conclusions and identify research gaps relevant to the Norwegian context.