Science, Technology, and Entrepreneurship 2016 Fall (GRIPS)
Instructor: Kanetaka M. Maki, Ph.D. (Assistant Professor)
E-mail: kanetaka@kanetaka-maki.org
Office Location: C1103
Office Hours: By Appointment (e-mail to kanetaka-sec@kanetaka-maki.org; my secretary will respond to you)
Academic Year: 2016 (April 2016 – March 2017)
Term: Fall
Class Time: Wednesdays 4:40-6:10 PM
Class Room: Seminar Room B (6F)
Note: This syllabus may be updated and revised at a later date.
1. Course Description
The scientific and technological knowledge emerged from research institutes, including universities, is the source of new business creation. In this class, we will discuss (1) how the knowledge is generated, and (2) the knowledge is translated into commercialization. Throughout the course, we will explore the science and technology policies based on cutting-edge research in economics and management research streams.
The class sessions will be organized as seminar-style. In each session, I will choose 3 academic articles (or chapters from books) for students to prepare. Each session is composed of lecture, presentation by students, and discussion regarding reading assignments.
2. Course Objectives
• To provide the necessary knowledge in the field of science, technology, and entrepreneurship.
• To provide policy implications in the field of science, technology, and entrepreneurship.
• To provide the necessary skills to read empirical research papers.
• To provide the skills to evaluate valid empirical research papers.
• To provide the big picture of the “state of the art” in the research stream of science, technology, and entrepreneurship.
• To provide the “real world” examples of science, technology, and entrepreneurship.
3. Materials
A carefully selected list of readings is provided. Hand-outs and materials will be distributed in the class. I will provide the PDF files of reading documents using Dropbox.
4. Classroom Procedure
The course meets 15 times for 90 minutes each time. Class sessions will begin and end on time. Please be punctual so that you do not miss the initial thrust of the discussions or disturb others. If you need to miss a class please email me in advance. Keep in mind class participation is part of your grade.
Each student is expected to have completed readings, assignments for each class before the class starts. Each student should be prepared and expect to participate in classroom discussions.
5. Class Participation
You are expected to read assignments and prepare answers to the preparation questions prior to class. Come to class prepared to discuss your findings.
Every class session will involve interaction in the form of class discussion. I expect each student to be prepared at all times to comment in any class session. To reinforce this expectation, I will randomly cold call on students during the ensuing discussion, both those who raise their hand and those who do not.
Many of the sessions of this class will follow the discussion format. This allows you to apply theories, concepts and analytical devices discussed in class or in the reading materials, or from other relevant current events or news sources.
The direction and quality of the discussion is the collective responsibility of the class, not the sole responsibility of the instructor. Class participation will be graded on your readiness, willingness and the quality of your comments and their contribution to the discussion.
You are expected to attend every class. You are responsible for the material covered in class whether you attend or not. I realize that despite your best efforts you might miss a class. Please inform me in advance if you miss a class. In case of emergencies, please contact me after the class.
6. Grading
[Master Program Course Students]
| Assignments | Percentage |
|---|---|
| Class Participation | 50% |
| Reading Summary | 50% |
| Total | 100% |
• The class participation is the 5-scale evaluation. The instructor evaluates individual students in each session. I expect students to prepare one of the reading assignments in each session.
• Students are required to hand in the one-page summary (there will be a template) of one of the reading assignments in each session. The instructor will assign which paper to prepare.
• In-class presentation of the paper is considered as the extra credit.
[Doctoral Program Course Students]
| Assignments | Percentage |
|---|---|
| Class Participation | 30% |
| Summary | 30% |
| In-class presentation | 40% |
| Total | 100% |
• The class participation is 5-scale evaluation. The instructor evaluates individual students in each session. I expect students to prepare all of the reading assignments in each session.
• Students are required to hand-in the one-page summary (there will be a template) of one of papers assigned. The instructor will assign which paper to prepare.
• In-class presentation of the paper is required. I expect students to conduct a presentation at least three times throughout the course.
[Auditing a Class]
• When you audit this class, you are required to read at least of the reading assignments to be ready to contribute to the class discussion.
7. Topics
1. Introduction
2. Why is Entrepreneurship Important?
• J.A. Timmons, Spinelli, S. 1999. New venture creation: Entrepreneurship for the 21st century. [Chap1]
• W. Bank. 2010. Innovation policy: A guide for developing countries. World Bank Group. [Chap 1]
• L.G. Zucker, Darby, M.R. 2007. Virtuous circles in science and commerce. Papers in Regional Science. 86(3) 445-470.
3. Why is Innovation Policy Difficult?
• J. Lerner. 2009. Boulevard of broken dreams: why public efforts to boost entrepreneurship and venture capital have failed–and what to do about it. Princeton University Press. [Chap1]
• J. Lerner. 2009. Boulevard of broken dreams: why public efforts to boost entrepreneurship and venture capital have failed–and what to do about it. Princeton University Press. [Chap2]
• J. Lerner. 2009. Boulevard of broken dreams: why public efforts to boost entrepreneurship and venture capital have failed–and what to do about it. Princeton University Press. [Chap3]
4. Where are Entrepreneurs Come from?
• J. Lerner, Malmendier, U. 2013. With a little help from my (random) friends: Success and failure in post-business school entrepreneurship. Review of Financial Studies hht024.
• R. Nanda, Sørensen, J.B. 2010. Workplace peers and entrepreneurship. Management Science. 56(7) 1116-1126.
• M. Giannetti, Simonov, A. 2009. Social interactions and entrepreneurial activity. Journal of Economics & Management Strategy. 18(3) 665-709.
5. How Important Are Star Scientists?
• L.G. Zucker, Darby, M.R., Armstrong, J.S. 2002. Commercializing knowledge: University science, knowledge capture, and firm performance in biotechnology. Management Science. 48(1) 138-153.
• L.G. Zucker, Darby, M.R. 2007. Star scientists, innovation and regional and national immigration. National Bureau of Economic Research.
• P. Azoulay, Graff Zivin, J., Wang, J. 2010. Superstar extinction. Quarterly Journal of Economics. 25 549-589.
6. Why is the Scientific Breakthrough Knowledge Localized?
• A.B. Jaffe. 1989. Real effects of academic research. The American Economic Review 957-970.
• L.G. Zucker, Darby, M.R., Brewer, M.B. 1998. Intellectual human capital and the birth of US biotechnology enterprises. Am Econ Rev. 88(1) 290-306.
• L.G. Zucker, Darby, M.R. 2001. Capturing Technological Opportunity Via Japan’s Star Scientists: Evidence from Japanese Firms’ Biotech Patents and Products. The Journal of Technology Transfer. 26(1/2) 37-58.
7. Why are the Entrepreneurial Activities Localized?
• Agrawal, Cockburn, I., Galasso, A., Oettl, A. 2014. Why are some regions more innovative than others? The role of small firms in the presence of large labs. Journal of Urban Economics. 81 149-165.
• E.L. Glaeser, Kerr, S.P., Kerr, W.R. 2015. Entrepreneurship and urban growth: An empirical assessment with historical mines. Review of Economics and Statistics. 97(2) 498-520.
• A.K. Agrawal, Catalini, C., Goldfarb, A. 2011. The geography of crowdfunding. National bureau of economic research.
8. Why is University Important for Entrepreneurship?
• M. Kenney, Mowery, D.C. 2014. Public Universities and Regional Growth: Insights from the University of California. Stanford Business Books. [Chap 1]
• M. Kenney, Mowery, D.C. 2014. Public Universities and Regional Growth: Insights from the University of California. Stanford Business Books. [Chap 4]
• S.B. Adams. 2003. Regionalism in Stanford’s contribution to the rise of Silicon Valley. Enterprise & Society. 4(3) 521-543.
9. Do University-based Startups Accelerate the Innovation?
• S.A. Shane. 2004. Academic entrepreneurship: University spinoffs and wealth creation. Edward Elgar Publishing. [Chap 1] [Chap 2]
• D. Di Gregorio, Shane, S. 2003. Why do some universities generate more start-ups than others? Research Policy. 32(2) 209-227.
• S. Shane, Stuart, T. 2002. Organizational endowments and the performance of university start-ups. Management Science. 48(1) 154-170.
10. Is University-based Technology Transfer Office effective?
• R.E. Litan, Mitchell, L., Reedy, E. 2008. Commercializing university innovations: Alternative approaches. University of Chicago Press.
• J. Thursby, Fuller, A.W., Thursby, M. 2009. US faculty patenting: Inside and outside the university. Research Policy. 38(1) 14-25.
• M. Kenney, Patton, D. 2011. Does inventor ownership encourage university research-derived entrepreneurship? A six university comparison. Research Policy. 40(8) 1100-1112.
11. Why is Venture Capital Important?
• M. Da Rin, Hellmann, T.F., Puri, M. 2011. A survey of venture capital research. National Bureau of Economic Research.
• S.N. Kaplan, Sensoy, B.A., Strömberg, P. 2009. Should investors bet on the jockey or the horse? Evidence from the evolution of firms from early business plans to public companies. The Journal of Finance. 64(1) 75-115.
• T. Hellmann, Schure, P., Vo, D. 2013. Angels and Venture Capitalists: Complements or Substitutes? NBER Working Paper.
12. How Important are Incentives to Invent and Commercialize?
• P. Azoulay, Graff Zivin, J.S., Manso, G. 2011. Incentives and creativity: evidence from the academic life sciences. The RAND Journal of Economics. 42(3) 527-554.
• R. Jensen, Thursby, M. 2001. Proofs and Prototypes for Sale: The Licensing of University Inventions. Am Econ Rev 240-259.
• S. Lach, Schankerman, M. 2008. Incentives and invention in universities. Rand Journal of Economics. 39(2) 403-433.
13. Are SBIR (Small Business Innovation Research) Awards Effective?
• J. Lerner. 1996. The government as venture capitalist: The long-run effects of the SBIR program. National Bureau of Economic Research.
• S. Howell. 2014. Financing constraints as barriers to innovation: Evidence from R&D grants to energy startups. Working paper.
• S.J. Wallsten. 2000. The effects of government-industry R&D programs on private R&D: the case of the Small Business Innovation Research program. The RAND Journal of Economics 82-100.
[Recommended]
• A.A. Toole, Czarnitzki, D. 2009. Exploring the relationship between scientist human capital and firm performance: The case of biomedical academic entrepreneurs in the SBIR program. Management Science. 55(1) 101-114.
• D.B. Audretsch. 2003. Standing on the shoulders of midgets: The US Small Business Innovation Research program (SBIR). Small Business Economics. 20(2) 129-135.
14. What is the Secret Recipe of Success of Silicon Valley?
• Porter, Michael. 1998. “Clusters and the New Economics of Competition.” Harvard Business Review (November-December): 77-90.
• A. Saxenian. 1990. Regional networks and the resurgence of Silicon Valley. California Management Review. 33(1) 89-112.
• M. Kenney, Von Burg, U. 1999. Technology, entrepreneurship and path dependence: industrial clustering in Silicon Valley and Route 128. Industrial and corporate change. 8(1) 67-103.
15. Topics Based on Students’ Need (Homework for Spring Break)
• J. Hunt, Gauthier-Loiselle, M. 2009. How much does immigration boost innovation? [Immigration]
• M. Roach, Sauermann, H. 2010. A taste for science? PhD scientists’ academic orientation and self-selection into research careers in industry. Research Policy. 39(3) 422-434. [Career of Scientists]
• M. Bruhn, Karlan, D., Schoar, A. 2010. What capital is missing in developing countries? The American Economic Review. 100(2) 629-633. [Entrepreneurship in Developing Countries]
8. Class Schedule
| Class | Date | Period | Contents |
|---|---|---|---|
| Class 01 | October 12, 2016 (Wed) | 5 | Topic 1: Introduction |
| Class 02 | October 19, 2016 (Wed) | 5 | Topic 2: Why is Entrepreneurship Important? |
| Class 03 | October 26, 2016 (Wed) | 5 | Topic 2: Why is Entrepreneurship Important? Topic 3: Why is Innovation Policy Difficult? |
| Class 04 | November 2, 2016 (Wed) | 5 | Topic 3: Why is Innovation Policy Difficult? |
| Class 05 | November 9, 2016 (Wed) | 5 | Topic 3: Why is Innovation Policy Difficult? Topic 4: Where are Entrepreneurs Come from? |
| Class 06 | November 16, 2016 (Wed) | 5 | Topic 5: How Important Are Star Scientists? |
| Class 07 | November 30, 2016 (Wed) | 5 | Topic 6: Why is the Scientific Breakthrough Knowledge localized? |
| Class 08 | December 7, 2016 (Wed) | 5 | Topic 7: Why are the Entrepreneurial Activities Localized? |
| Class 09 | December 14, 2016 (Wed) | 5 | Topic 11: Why is Venture Capital Important? |
| Class 10 | December 14, 2016 (Wed) | 6 | Guest Speaker: Dr. Koji Osawa (Partner, Global Catalyst Partners) “The Role of Venture Capital in Innovation” |
| Class 11 | December 21, 2016 (Wed) | 5 | Topic 13: Are SBIR (Small Business Innovation Research) Awards Effective? |
| Class 12 | December 28, 2016 (Wed) | 5 | Guest Speaker: Mr. Naoto Kanehira (World Bank) ““Multilateral Approaches to Science, Technology and Innovation Policies” |
| Class 13 | January 4, 2016 (Wed) | 5 | Topic 12: How Important are Incentives to Invent and Commercialize? |
| Class 14 | January 11, 2016 (Wed) | 5 | Guest Speaker: Mr. Yasushi Hara (GRIPS) “Dataset at GRIPS” “Brainstorming on empirical research projects” Wrap-up |
| Class 15 | January 18, 2016 (Wed) | 5 | No class 40-minutes extension in Class 05 20-minutes extension in Class 06 15-minutes extension in Class 08 15-minutes extension in Class 10 |
* I may cancel some of the sessions. In that case, there will be a make-up classes on February 1, 3, 4, or 6. Or 6th period on Wednesdays?)
9. Course Policies: Laptop Computers/ Tablets / Smart Phones
In order to increase focus, use of Laptop Computers, Tablets, and/or Smart Phones will not be permitted during class sessions, except as directed in specific exercises. All class materials will be provided during the class.
10. Academic Integrity
Integrity of scholarship is essential for an academic community. As members of the GRIPS, we pledge ourselves to uphold the highest ethical standards. The University expects that both faculty and students will honor this principle and in so doing protect the validity of University intellectual work. For students, this means that all academic work will be done by the individual to whom it is assigned, without unauthorized aid of any kind.
[Honor Code in This Course]
You can work with anyone on class assignments. I suggest that you work in study groups on homework assignments.
Your class preparation and assignments must not benefit from class materials by students who took this course in prior years, or at other schools. Using course notes, powerpoint slides, or quizzes you received from previous students of this class is a violation of the Honor Code.
11. Note
• English will be used in the classroom.
• If you have difficulties using in English, I am happy to assist you in Japanese during my office hours etc.