Title: Do R&D and licensing strategies influence start-ups' growth?

Authors: Dina Pereira; João Leitão; Tessaleno Devezas

Addresses: Technology Transfer Office, Convento de Santo António, University of Beira Interior (UBI), 6201-001 Covilhã, Portugal; Centre for Management Studies of Instituto Superior Técnico (CEG-IST), University of Lisbon, 1049-001 Lisboa, Portugal ' Department of Management and Economics, University of Beira Interior (UBI), Portugal; Centre for Management Studies of Instituto Superior Técnico (CEG-IST), University of Lisbon, 1049-001 Lisboa, Portugal ' University of Beira Interior (UBI), Department of Electromechanical Engineering, Portugal; Centre for Aerospace Science and Technologies (CAST), Convento de Santo António, 6201-001 Covilhã, Portugal

Abstract: The present paper estimates the effects of US start-ups' R&D and licensing strategies on their growth, based on R&D intensity, start-ups' patents and in-licensing and out-licensing activities. To do so, we test a sample of 818 firms included in the Kauffman Foundation Survey, from the high-tech and medium high-tech sectors in the period 2004-2010. We reveal a positive and significant effect of R&D intensity and in-licensing on start-ups' growth. These conclusions are also ratified when controlling the activity sector, which has a major effect on sectors such as high-tech manufacturing industries and high-tech knowledge intensive services.

Keywords: in-licensing; IP management; out-licensing; intellectual property; panel data; patents; R&D intensity; start-ups; startup growth; research and development; high-tech manufacturing; high-tech KIS; knowledge intensive services; high technology.

DOI: 10.1504/IJESB.2015.069283

International Journal of Entrepreneurship and Small Business, 2015 Vol.25 No.2, pp.148 - 170

Published online: 08 May 2015 *

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