The Emergence of Entrepreneurship Policy : Governance, Start-Ups, and Growth in the U.S. Knowledge Economy

This volume seeks to catalyze the emergence of a novel field of policy studies: entrepreneurship policy. Practical experience and academic research both point to the central role of entrepreneurs in the process of economic growth and to the importance of public policy in creating the conditions under which entrepreneurial companies can flourish. The contributors, who hail from the disciplines of economics, geography, history, law, management, and political science, seek to crystallize key findings and to stimulate debate about future opportunities for policy-makers and researchers in this area. The chapters include surveys of the economic, social, and cultural contexts for US entrepreneurship policy; assessments of regional efforts to link knowledge producers to new enterprises; explorations of policies that aim to foster entrepreneurship in under-represented communities; detailed analyses of three key industries (biotechnology, e-commerce, and telecommunications); and considerations of challenges in policy implementation. Cover......Page 1 Half-title......Page 3 Title......Page 5 Copyright......Page 6 Contents......Page 7 Editor’s Acknowledgments......Page 9 Contributors......Page 11 PART ONE THE ENTREPRENEURIAL SOCIETY......Page 13 1 Entrepreneurship Policy......Page 15 ENTREPRENEURSHIP: A NARROW DEFINITION......Page 17 PUBLIC POLICY AND GOVERNANCE WITHIN THE CONTEXT FOR ENTREPRENEURSHIP......Page 19 The Federal Level......Page 22 State, Regional, and Local Initiatives......Page 24 DOES ENTREPRENEURSHIP POLICY PRODUCE ENTREPRENEURSHIP?......Page 26 AN INTRODUCTION TO THE VOLUME......Page 28 2 Entrepreneurship Policy and the Strategic Management of Places......Page 32 PUBLIC POLICY TOWARD BUSINESS AFTER WORLD WAR II......Page 34 GLOBALIZATION AND THE STRATEGIC MANAGEMENT OF PLACES......Page 36 THE SPATIAL BASIS OF THE KNOWLEDGE ECONOMY......Page 40 THE ROLE OF ENTREPRENEURSHIP......Page 42 ENTREPRENEURSHIP POLICY......Page 46 CONCLUSIONS......Page 49 3 Entrepreneurship, Creativity, and Regional Economic Growth......Page 51 CREATIVITY, ENTREPRENEURSHIP, AND REGIONAL ECONOMIC GROWTH......Page 53 RESEARCH DESIGN AND METHODS......Page 57 Diversity and Innovation......Page 58 The Importance of Being Creative......Page 59 Economic and Cultural Creativity......Page 60 Immigrants as a Source of Diversity......Page 62 The Gay Index and Regional Diversity......Page 64 Diversity in the Broadest Sense......Page 66 High-Tech Entrepreneurship and Overall Creativity......Page 67 PUBLIC POLICY IMPLICATIONS......Page 68 APPENDIX......Page 70 PART TWO HIGH-TECH ENTREPRENEURSHIP......Page 71 4 Start-ups and Spin-offs......Page 73 INTRODUCTION......Page 74 EARLY STAGE TECHNOLOGY DEVELOPMENT IN CONTEXT......Page 76 The Unit of Analysis......Page 79 The Interval Between Invention and Innovation......Page 80 Who Funds Early Stage Technology Development?......Page 83 An “Innovation Gap”?......Page 88 TECHNOLOGISTS AND EXECUTIVES: DIVERGENT SKILLS, SHARED MOTIVATIONS......Page 91 Start-ups: The Similar Motivations but Different Skills of Academic Scientists and CEOs......Page 93 Spin-offs: The Fruit of Frustration......Page 95 Overcoming Barriers to Innovation: Angels Are Everywhere......Page 97 Putting Innovation in Its Place: Collective Entrepreneurship and Regional Economic Development......Page 98 CONCLUSION: PUBLIC POLICY IN SUPPORT OF COLLECTIVE ENTREPRENEURSHIP......Page 101 5 Entrepreneurship and American Research Universities......Page 104 UNIVERSITY TECHNOLOGY TRANSFER OFFICES: TIMING, STRUCTURE, AND MOTIVES......Page 105 THE MECHANISMS OF UNIVERSITY TECHNOLOGY TRANSFER......Page 110 Sponsored Research......Page 112 Licenses......Page 113 UNIVERSITY-BASED SPIN-OFFS......Page 115 THE LOCAL EFFECTS OF ACADEMIC RESEARCH......Page 119 STATE ECONOMIC DEVELOPMENT INITIATIVES AND UNIVERSITIES......Page 121 REFLECTIVE CONCLUSIONS......Page 123 6 America’s Entrepreneurial Universities......Page 125 ACADEMIC ENTREPRENEURSHIP, CURRICULAR INNOVATION, AND HIGH-TECHNOLOGY INDUSTRY......Page 129 ACADEMIC MEDICAL CENTERS AND THE NEW WAVE OF ACADEMIC ENTREPRENEURS......Page 133 SPILLOVERS AND SPIN-OFFS: UNIVERSITY RESEARCH AS THE KNOWLEDGE BASE FOR ENTREPRENEURSHIP......Page 137 TWO EXEMPLARY CASES: CT AND MRI......Page 143 THE ROLE OF VENTURE CAPITAL......Page 146 A CLOSING CONJECTURE......Page 147 PART THREE EQUITY ISSUES IN ENTREPRENEURSHIP POLICY......Page 151 7 Venture Capital Access......Page 153 POLICY IMPACT AND DEBT FINANCING......Page 154 EQUITY CAPITAL INVESTMENT......Page 156 A MODEL OF ACCESS TO VENTURE CAPITAL......Page 158 Strategic Choice: Grow or Not?......Page 159 Human Capital......Page 161 Structural Barriers......Page 162 PUBLIC POLICY RECOMMENDATIONS......Page 164 CONCLUSION......Page 166 8 Minority Business Assistance Programs Are Not Designed to Produce Minority Business Development......Page 167 TRADITIONAL MINORITY ENTREPRENEURSHIP AND THE LEGACY OF DISCRIMINATION......Page 168 EMERGING LINES OF BUSINESS: A GENERATION OF PROGRESS......Page 170 DIRECT GOVERNMENT ASSISTANCE TO MINORITY-OWNED BUSINESSES: THE HISTORICAL LEGACY OF EOL......Page 172 AN ALTERNATIVE APPROACH TO GOVERNMENT MINORITY BUSINESS LENDING PROGRAMS......Page 174 MBE ASSISTANCE DELIVERED BY PRIVATE-SECTOR PARTNERS: BREAKING WITH THE PAST......Page 176 ADDRESSING THE DILEMMA, ACHIEVING VIABILITY......Page 177 DESIGNED FOR FAILURE: MBE ASSISTANCE IN THE 1990S......Page 180 WHY DO MINORITY BUSINESS DEVELOPMENT PROGRAMS GENERATE SO LITTLE MINORITY BUSINESS DEVELOPMENT?......Page 182 PART FOUR SECTOR-SPECIFIC ISSUES......Page 185 9 Understanding Entrepreneurship in the U.S. Biotechnology Industry......Page 187 PUBLIC POLICY INFLUENCES ON BIOTECHNOLOGY ENTREPRENEURSHIP......Page 189 FACTORS THAT FACILITATE BIOTECHNOLOGY ENTREPRENEURSHIP......Page 192 Scientific and Technical Knowledge......Page 193 Financial and Human Resources......Page 199 Market Applications......Page 203 CHALLENGES FACING POLICYMAKERS AND RESEARCHERS......Page 204 10 E-Commerce, Entrepreneurship, and the Law......Page 207 ANTAGONISTIC VIEWS......Page 208 LAW AS LEVELER......Page 210 Law as Protector......Page 212 Law as Enforcer......Page 216 MAPPING OUT A RESEARCH AGENDA......Page 220 REASSESSING THE NEED FOR LAW: A CALL FOR LEGAL ENTREPRENEURSHIP......Page 222 INTRODUCTION......Page 226 MONOPOLY AND ENTREPRENEURSHIP IN TELECOMMUNICATIONS......Page 227 3. The New Telecommunications Network Environment Is Not Linear But Cyclical......Page 233 THE PROSPECTS OF ENTREPRENEURSHIP......Page 234 PART FIVE IMPLEMENTING ENTREPRENEURSHIP POLICY......Page 237 12 Knowledge, Power, and Entrepreneurs......Page 239 KNOWLEDGE AND POWER IN THE ENTREPRENEURSHIP POLICY PROCESS......Page 240 THE POLITICAL RESOURCES OF ENTREPRENEURS......Page 242 MOBILIZING ENTREPRENEURS......Page 244 CHECKS AND BALANCES......Page 248 CONCLUSION......Page 250 13 Entrepreneurship as State and Local Economic Development Strategy......Page 252 THE DEVELOPMENT OF DEVELOPMENT......Page 253 THE THIRD WAVE IN ACTION......Page 257 ENTREPRENEURSHIP IN ECONOMIC DEVELOPMENT POLICY: KEY TRENDS......Page 259 A NEW APPROACH......Page 261 1. Focus on an Entrepreneurial Eco-System......Page 262 2. Promoting Cultural Change......Page 263 3. Serving Individuals, Not Firms......Page 264 4. New Delivery Mechanisms......Page 265 5. Focus on High Growth......Page 267 Program-itis......Page 268 Political Cycle versus Business Cycle......Page 269 CONCLUSION......Page 270 Afterword......Page 272 References......Page 277 Index......Page 305 Cover 1 Half-title 3 Title 5 Copyright 6 Contents 7 Editor’s Acknowledgments 9 Contributors 11 PART ONE THE ENTREPRENEURIAL SOCIETY 13 1 Entrepreneurship Policy 15 ENTREPRENEURSHIP: A NARROW DEFINITION 17 PUBLIC POLICY AND GOVERNANCE WITHIN THE CONTEXT FOR ENTREPRENEURSHIP 19 ENTREPRENURSHIP POLICY BY OTHER NAMES: A BRIEF HISTORICAL OUTLINE 22 The Federal Level 22 State, Regional, and Local Initiatives 24 DOES ENTREPRENEURSHIP POLICY PRODUCE ENTREPRENEURSHIP? 26 AN INTRODUCTION TO THE VOLUME 28 2 Entrepreneurship Policy and the Strategic Management of Places 32 PUBLIC POLICY TOWARD BUSINESS AFTER WORLD WAR II 34 GLOBALIZATION AND THE STRATEGIC MANAGEMENT OF PLACES 36 THE SPATIAL BASIS OF THE KNOWLEDGE ECONOMY 40 THE ROLE OF ENTREPRENEURSHIP 42 ENTREPRENEURSHIP POLICY 46 CONCLUSIONS 49 3 Entrepreneurship, Creativity, and Regional Economic Growth 51 CREATIVITY, ENTREPRENEURSHIP, AND REGIONAL ECONOMIC GROWTH 53 RESEARCH DESIGN AND METHODS 57 High Technology Growth 58 Diversity and Innovation 58 The Importance of Being Creative 59 ENTREPRENEURSHIP, INNOVATION, AND THE CREATIVE CLASS 60 Economic and Cultural Creativity 60 Creativity and Diversity 62 Immigrants as a Source of Diversity 62 The Gay Index and Regional Diversity 64 Diversity in the Broadest Sense 66 High-Tech Entrepreneurship and Overall Creativity 67 PUBLIC POLICY IMPLICATIONS 68 APPENDIX 70 PART TWO HIGH-TECH ENTREPRENEURSHIP 71 4 Start-ups and Spin-offs 73 INTRODUCTION 74 EARLY STAGE TECHNOLOGY DEVELOPMENT IN CONTEXT 76 THE DISJUNCTURE BETWEEN INVENTION AND INNOVATION 79 The Unit of Analysis 79 The Interval Between Invention and Innovation 80 Who Funds Early Stage Technology Development? 83 An “Innovation Gap”? 88 TECHNOLOGISTS AND EXECUTIVES: DIVERGENT SKILLS, SHARED MOTIVATIONS 91 Start-ups: The Similar Motivations but Different Skills of Academic Scientists and CEOs 93 Spin-offs: The Fruit of Frustration 95 Overcoming Barriers to Innovation: Angels Are Everywhere 97 Putting Innovation in Its Place: Collective Entrepreneurship and Regional Economic Development 98 CONCLUSION: PUBLIC POLICY IN SUPPORT OF COLLECTIVE ENTREPRENEURSHIP 101 5 Entrepreneurship and American Research Universities 104 UNIVERSITY TECHNOLOGY TRANSFER OFFICES: TIMING, STRUCTURE, AND MOTIVES 105 THE MECHANISMS OF UNIVERSITY TECHNOLOGY TRANSFER 110 Sponsored Research 112 Licenses 113 UNIVERSITY-BASED SPIN-OFFS 115 THE LOCAL EFFECTS OF ACADEMIC RESEARCH 119 STATE ECONOMIC DEVELOPMENT INITIATIVES AND UNIVERSITIES 121 REFLECTIVE CONCLUSIONS 123 6 America’s Entrepreneurial Universities 125 ACADEMIC ENTREPRENEURSHIP, CURRICULAR INNOVATION, AND HIGH-TECHNOLOGY INDUSTRY 129 ACADEMIC MEDICAL CENTERS AND THE NEW WAVE OF ACADEMIC ENTREPRENEURS 133 SPILLOVERS AND SPIN-OFFS: UNIVERSITY RESEARCH AS THE KNOWLEDGE BASE FOR ENTREPRENEURSHIP 137 TWO EXEMPLARY CASES: CT AND MRI 143 THE ROLE OF VENTURE CAPITAL 146 A CLOSING CONJECTURE 147 PART THREE EQUITY ISSUES IN ENTREPRENEURSHIP POLICY 151 7 Venture Capital Access 153 POLICY IMPACT AND DEBT FINANCING 154 EQUITY CAPITAL INVESTMENT 156 A MODEL OF ACCESS TO VENTURE CAPITAL 158 Potential Barriers to Access 159 Strategic Choice: Grow or Not? 159 Human Capital 161 Structural Barriers 162 PUBLIC POLICY RECOMMENDATIONS 164 CONCLUSION 166 8 Minority Business Assistance Programs Are Not Designed to Produce Minority Business Development 167 TRADITIONAL MINORITY ENTREPRENEURSHIP AND THE LEGACY OF DISCRIMINATION 168 EMERGING LINES OF BUSINESS: A GENERATION OF PROGRESS 170 DIRECT GOVERNMENT ASSISTANCE TO MINORITY-OWNED BUSINESSES: THE HISTORICAL LEGACY OF EOL 172 AN ALTERNATIVE APPROACH TO GOVERNMENT MINORITY BUSINESS LENDING PROGRAMS 174 MBE ASSISTANCE DELIVERED BY PRIVATE-SECTOR PARTNERS: BREAKING WITH THE PAST 176 ADDRESSING THE DILEMMA, ACHIEVING VIABILITY 177 DESIGNED FOR FAILURE: MBE ASSISTANCE IN THE 1990S 180 WHY DO MINORITY BUSINESS DEVELOPMENT PROGRAMS GENERATE SO LITTLE MINORITY BUSINESS DEVELOPMENT? 182 PART FOUR SECTOR-SPECIFIC ISSUES 185 9 Understanding Entrepreneurship in the U.S. Biotechnology Industry 187 PUBLIC POLICY INFLUENCES ON BIOTECHNOLOGY ENTREPRENEURSHIP 189 FACTORS THAT FACILITATE BIOTECHNOLOGY ENTREPRENEURSHIP 192 Scientific and Technical Knowledge 193 Financial and Human Resources 199 Market Applications 203 CHALLENGES FACING POLICYMAKERS AND RESEARCHERS 204 10 E-Commerce, Entrepreneurship, and the Law 207 ANTAGONISTIC VIEWS 208 LAW AS LEVELER 210 Law as Protector 212 Law as Enforcer 216 MAPPING OUT A RESEARCH AGENDA 220 REASSESSING THE NEED FOR LAW: A CALL FOR LEGAL ENTREPRENEURSHIP 222 11 Entrepreneurship and Government in Telecommunications 226 INTRODUCTION 226 MONOPOLY AND ENTREPRENEURSHIP IN TELECOMMUNICATIONS 227 1. It is Difficult to Do Competitive Telecommunications 233 2. Economies of Scale are Back 233 3. The New Telecommunications Network Environment Is Not Linear But Cyclical 233 THE PROSPECTS OF ENTREPRENEURSHIP 234 PART FIVE IMPLEMENTING ENTREPRENEURSHIP POLICY 237 12 Knowledge, Power, and Entrepreneurs 239 KNOWLEDGE AND POWER IN THE ENTREPRENEURSHIP POLICY PROCESS 240 THE POLITICAL RESOURCES OF ENTREPRENEURS 242 MOBILIZING ENTREPRENEURS 244 CHECKS AND BALANCES 248 CONCLUSION 250 13 Entrepreneurship as State and Local Economic Development Strategy 252 THE DEVELOPMENT OF DEVELOPMENT 253 THE THIRD WAVE IN ACTION 257 ENTREPRENEURSHIP IN ECONOMIC DEVELOPMENT POLICY: KEY TRENDS 259 A NEW APPROACH 261 1. Focus on an Entrepreneurial Eco-System 262 2. Promoting Cultural Change 263 3. Serving Individuals, Not Firms 264 4. New Delivery Mechanisms 265 5. Focus on High Growth 267 CHALLENGES 268 Program-itis 268 Performance Evaluation 269 Political Cycle versus Business Cycle 269 CONCLUSION 270 Afterword 272 References 277 Index 305 PART ONE : THE ENTREPRENEURIAL SOCIETY: WHAT'S GOVERNANCE GOT TO DO WITH IT? PART ONE : THE ENTREPRENEURIAL SOCIETY: WHAT'S GOVERNANCE GOT TO DO WITH IT? -- David M. Hart PART ONE : THE ENTREPRENEURIAL SOCIETY: WHAT'S GOVERNANCE GOT TO DO WITH IT? -- David M. Hart -- David B. Audretsch PART ONE : THE ENTREPRENEURIAL SOCIETY: WHAT'S GOVERNANCE GOT TO DO WITH IT? -- David M. Hart -- David B. Audretsch -- Richard Florida -- PART TWO : HIGH-TECH ENTREPRENEURSHIP: THE UNIVERSITY-INDUSTRY-GOVERNMENT CONNECTION PART ONE : THE ENTREPRENEURIAL SOCIETY: WHAT'S GOVERNANCE GOT TO DO WITH IT? -- David M. Hart -- David B. Audretsch -- Richard Florida -- PART TWO : HIGH-TECH ENTREPRENEURSHIP: THE UNIVERSITY-INDUSTRY-GOVERNMENT CONNECTION -- Philip E. Auerswald, -- Lewis M. Branscomb PART ONE : THE ENTREPRENEURIAL SOCIETY: WHAT'S GOVERNANCE GOT TO DO WITH IT? -- David M. Hart -- David B. Audretsch -- Richard Florida -- PART TWO : HIGH-TECH ENTREPRENEURSHIP: THE UNIVERSITY-INDUSTRY-GOVERNMENT CONNECTION -- Philip E. Auerswald, -- Lewis M. Branscomb -- Maryann P. Feldman PART ONE : THE ENTREPRENEURIAL SOCIETY: WHAT'S GOVERNANCE GOT TO DO WITH IT? -- David M. Hart -- David B. Audretsch -- Richard Florida -- PART TWO : HIGH-TECH ENTREPRENEURSHIP: THE UNIVERSITY-INDUSTRY-GOVERNMENT CONNECTION -- Philip E. Auerswald, -- Lewis M. Branscomb -- Maryann P. Feldman -- Nathan Rosenberg -- PART THREE : EQUITY ISSUES IN ENTREPRENEURSHIP POLICY PART ONE : THE ENTREPRENEURIAL SOCIETY: WHAT'S GOVERNANCE GOT TO DO WITH IT? -- David M. Hart -- David B. Audretsch -- Richard Florida -- PART TWO : HIGH-TECH ENTREPRENEURSHIP: THE UNIVERSITY-INDUSTRY-GOVERNMENT CONNECTION -- Philip E. Auerswald, -- Lewis M. Branscomb -- Maryann P. Feldman -- Nathan Rosenberg -- PART THREE : EQUITY ISSUES IN ENTREPRENEURSHIP POLICY -- Candida G. Brush ... [et al.] PART ONE : THE ENTREPRENEURIAL SOCIETY: WHAT'S GOVERNANCE GOT TO DO WITH IT? -- David M. Hart -- David B. Audretsch -- Richard Florida -- PART TWO : HIGH-TECH ENTREPRENEURSHIP: THE UNIVERSITY-INDUSTRY-GOVERNMENT CONNECTION -- Philip E. Auerswald, -- Lewis M. Branscomb -- Maryann P. Feldman -- Nathan Rosenberg -- PART THREE : EQUITY ISSUES IN ENTREPRENEURSHIP POLICY -- Candida G. Brush ... [et al.] -- Timothy Bates -- PART FOUR : SECTOR-SPECIFIC ISSUES PART ONE : THE ENTREPRENEURIAL SOCIETY: WHAT'S GOVERNANCE GOT TO DO WITH IT? -- David M. Hart -- David B. Audretsch -- Richard Florida -- PART TWO : HIGH-TECH ENTREPRENEURSHIP: THE UNIVERSITY-INDUSTRY-GOVERNMENT CONNECTION -- Philip E. Auerswald, -- Lewis M. Branscomb -- Maryann P. Feldman -- Nathan Rosenberg -- PART THREE : EQUITY ISSUES IN ENTREPRENEURSHIP POLICY -- Candida G. Brush ... [et al.] -- Timothy Bates -- PART FOUR : SECTOR-SPECIFIC ISSUES -- Andrew A. Toole PART ONE : THE ENTREPRENEURIAL SOCIETY: WHAT'S GOVERNANCE GOT TO DO WITH IT? -- David M. Hart -- David B. Audretsch -- Richard Florida -- PART TWO : HIGH-TECH ENTREPRENEURSHIP: THE UNIVERSITY-INDUSTRY-GOVERNMENT CONNECTION -- Philip E. Auerswald, -- Lewis M. Branscomb -- Maryann P. Feldman -- Nathan Rosenberg -- PART THREE : EQUITY ISSUES IN ENTREPRENEURSHIP POLICY -- Candida G. Brush ... [et al.] -- Timothy Bates -- PART FOUR : SECTOR-SPECIFIC ISSUES -- Andrew A. Toole -- Viktor Mayer-Schönberger -- PART FIVE : IMPLEMENTING ENTREPRENEURSHIP POLICY PART ONE : THE ENTREPRENEURIAL SOCIETY: WHAT'S GOVERNANCE GOT TO DO WITH IT? -- David M. Hart -- David B. Audretsch -- Richard Florida -- PART TWO : HIGH-TECH ENTREPRENEURSHIP: THE UNIVERSITY-INDUSTRY-GOVERNMENT CONNECTION -- Philip E. Auerswald, -- Lewis M. Branscomb -- Maryann P. Feldman -- Nathan Rosenberg -- PART THREE : EQUITY ISSUES IN ENTREPRENEURSHIP POLICY -- Candida G. Brush ... [et al.] -- Timothy Bates -- PART FOUR : SECTOR-SPECIFIC ISSUES -- Andrew A. Toole -- Viktor Mayer-Schönberger -- PART FIVE : IMPLEMENTING ENTREPRENEURSHIP POLICY -- David M. Hart PART ONE : THE ENTREPRENEURIAL SOCIETY: WHAT'S GOVERNANCE GOT TO DO WITH IT?-- David M. Hart-- David B. Audretsch-- Richard Florida-- PART TWO : HIGH-TECH ENTREPRENEURSHIP: THE UNIVERSITY-INDUSTRY-GOVERNMENT CONNECTION-- Philip E. Auerswald,-- Lewis M. Branscomb-- Maryann P. Feldman-- Nathan Rosenberg-- PART THREE : EQUITY ISSUES IN ENTREPRENEURSHIP POLICY-- Candida G. Brush ... [et al.]-- Timothy Bates-- PART FOUR : SECTOR-SPECIFIC ISSUES-- Andrew A. Toole-- Viktor Mayer-Schönberger-- PART FIVE : IMPLEMENTING ENTREPRENEURSHIP POLICY-- David M. Hart-- Erik R. Pages, Doris Freedman,-- Patrick Von Bargen This Volume Seeks To Catalyze The Emergence Of A New Field Of Policy Studies: Entrepreneurship Policy. Practical Experience And Academic Research Both Point To The Central Role Of Entrepreneurs In The Process Of Economic Growth And To The Importance Of Public Policy In Creating The Conditions Under Which Entrepreneurial Companies Can Flourish. The Contributors, Who Hail From The Disciplines Of Economics, Geography, History, Law, Management, And Political Science, Seek To Crystallize Key Findings And To Stimulate Debate About Future Opportunities For Policy-makers And Researchers In This Area. The Chapters Include Surveys Of The Economic, Social, And Cultural Contexts For Us Entrepreneurship Policy; Assessments Of Regional Efforts To Link Knowledge Producers To New Enterprises; Explorations Of Policies That Aim To Foster Entrepreneurship In Under-represented Communities; Detailed Analyses Of Three Key Industries (biotechnology, E-commerce, And Telecommunications); And Considerations Of Challenges In Policy Implementation. Part One : The Entrepreneurial Society: What's Governance Got To Do With It? -- Entrepreneurship Policy: What It Is And Where It Came From / David M. Hart -- Entrepreneurship Policy And The Strategic Management Of Places / David B. Audretsch -- Entrepreneurship, Creativity, And Regional Economic Growth / Richard Florida -- Part Two : High-tech Entrepreneurship: The University-industry-government Connection -- Start-ups And Spin-offs: Collective Entrepreneurship Between Invention And Innovation / Philip E. Auerswald, Lewis M. Branscomb -- Entrepreneurship And American Research Universities: Evolution In Technology Transfer / Maryann P. Feldman -- America's Entrepreneurial Universities / Nathan Rosenberg -- Part Three : Equity Issues In Entrepreneurship Policy -- Venture Capital Access: Is Gender An Issue? / Candida G. Brush [and Others] -- Minority Business Assistance Programs Are Not Designed To Produce Minority Business Development / Timothy Bates -- Part Four : Sector-specific Issues -- Understanding Entrepreneurship In The U.s. Biotechnology Industry: Characteristics, Facilitating Factors, And Policy Challenges / Andrew A. Toole -- E-commerce, Entrepreneurship, And The Law: Reassessing A Relationship / Viktor Mayer-schönberger -- Part Five : Implementing Entrepreneurship Policy -- Knowledge, Power, And Entrepreneurs: A First Pass At The Politics Of Entrepreneurship Policy / David M. Hart -- Entrepreneurship As A State And Local Economic Development Strategy / Erik R. Pages, Doris Freedman, Patrick Von Bargen. Edited By David M. Hart. This Project Originated In A Conference ... Which Was Held At The Kennedy School's Center For Business And Government (cbg) On April 10 And 11, 2001.--p. Vii. Includes Bibliographical References (p. 265-292) And Index. This book reveals how government and its allies (like business associations) can help people to start businesses that have the potential to grow rapidly and make major contributions to the economy. Although many entrepreneurs think of government as the enemy, and many policy-makers simply ignore entrepreneurs and potential entrepreneurs, this volume argues that the two groups should be allies, since their goals of building a vibrant economy and new businesses are interconnected. Contributors to the volume assert that mutual education and careful attention to the design of new policies will help this alliance to grow stronger.