English, Article, Journal or magazine article edition: R&D Subsidies to Start-ups - Effective Drivers of Patent Activity and Employment Growth? Uwe Cantner; Sarah Kösters

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Bookmark: http://trove.nla.gov.au/version/1086
Physical Description
  • preprint
Language
  • English

Edition details

Title
  • R&​D Subsidies to Start-ups - Effective Drivers of Patent Activity and Employment Growth?
Author
  • Uwe Cantner
  • Sarah Kösters
Physical Description
  • preprint
Notes
  • The present paper investigates the effectiveness of R&​D subsidies given to start-ups. Taking an aggregate view rather than evaluating a single program, we estimate the impact of R&​D subsidies on start-ups' employment growth and their patent output. A unique data set on start-ups in the East German county of Thuringia allows us to focus on those start-ups that conduct R&​D within the first three business years. We conduct propensity score matching to address the selection bias between subsidized and non-subsidized start-ups. We find that R&​D subsidies lead to an increase in employment growth of about 66%. Furthermore, subsidized start-ups show a 2.8 times higher patent output. These estimates provide evidence for the additionality of R&​D subsidies within the first three business years. Moreover, our analysis points to the special group of academic spin-offs which excels in the novelty of business ideas and patent activity. For some of these high-tech start-ups, no non-subsidized counterparts can be found. This might be attributed to the policy focus on academic spin-offs, which has led to a successful targeting of R&​D support schemes.
  • R&​D subsidies, start-ups, policy evaluation
  • RePEc:jrp:jrpwrp:2009-027
Language
  • English
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