Factors affecting patentees to start-up new venture: evidence from Greece

Factors affecting patentees to start-up new venture: evidence from Greece
Document type
Paper
Author(s)
Goniadis, Iraklis; Varsakelis, Nikos C
Publisher
Emerald
Date of publication
1 July 2012
Series
International journal of entrepreneurial behaviour & research. Vol 18; Number 5
Subject(s)
Small business & enterprise: the practicalities of running a small business and the theory of entrepreneurship, Management & leadership: including strategy, public sector management, operations and production, Trends: economic, social and technology trends affecting business
Collection
Business and management
Material type
Reports

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The purpose of this paper is to contribute to literature which aims at the detection of factors affecting the decision of individual patentees to start a new business using data from a national survey on the population of individual patentees in a less technologically developed country. This paper uses the responses of 434 individuals - inventors, residents of Greece, from a broader survey conducted by the Greek Organization for Industrial Property in March 2007. Applying the collected data into a logit model, the paper addresses the questions raised in the literature about the source of knowledge, opportunities perception, and the past business experience on the decision of a patentee to start a new business venture. The findings of the paper show that financial restraints strongly affect the decision of a patentee to start-up a new venture. The collaboration with a higher education and research institution does not lead to an invention-patent with technological opportunity content and this reflects the particularities of Greek academia while the opposite is the perception for the knowledge coming from market (incumbent firms). Finally, the new entrepreneur is more likely to decide to start a new venture in order to exploit commercially its patent rather than the patentee with past entrepreneurial experience. This finding contradicts the previous findings for the US and the authors believe that it may be a consequence of the Greek commercial and financial law and national culture idiosyncrasies.

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