Patent-based investment funds as innovation intermediaries for SMEs: In-depth analysis of reciprocal interactions,motives and fallacies |
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| Authors: | Daniel Gredel Matthias Kramer Boris Bend |
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| Institution: | 1. University of Hohenheim, Center for International Management and Innovation, Schloss-Osthof-Nord (570F), 70593 Stuttgart, Germany;2. ESB Business School, Reutlingen University/Dublin City University, Alteburgstr. 150, 72762 Reutlingen, Germany;3. University of Bremen, Institute for Project Management and Innovation (IPMI), WING-Gebäude, Wilhelm-Herbst-Str. 12, 28359 Bremen, Germany;1. Faculdade de Tecnologia de Sorocaba, Centro Estadual de Educação Tecnológica Paula Souza (CEETPS), Av. Eng. Carlos Reinaldo Mendes, 2015, Alto da Boa Vista., 18013-280, Sorocaba, São Paulo, Brazil;2. Escola Politécnica da Universidade de São Paulo (EPUSP), Av. Prof. Mello Moraes, 2231, 05508-030 São Paulo, São Paulo, Brazil;1. Department of Economic History, School of Economics and Management, Lund University, P.O. Box 7083, SE-22007 Lund, Sweden;2. CIRCLE, P.O. Box 117, SE-22100 Lund, Sweden;3. Pasilanraitio 5, 00240 Helsinki, Finland;1. Department of Technology Management for Innovation, the University of Tokyo, Japan;2. Research Fellow of Japan Society for the promotion of Science, Japan;3. Policy Alternatives Research Institute, the University of Tokyo, Japan |
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| Abstract: | SMEs and academic spin-offs play an important role in generating innovations but face resource and competency constraints that have implications for commercializing their technologies. In two in-depth case studies we analyze how patent-based investment funds (PBIFs), operating as innovation intermediaries, help overcome these constraints. In contrast to other patent intermediaries, PBIFs acquire patents and patentable inventions at an early stage of technology development when access to capital is particularly critical. They invest in the technological and legal advancement of their portfolio, which is mostly conducted in close interaction with the technology-providing SMEs and their original inventors. These PBIFs not only provide high added-value in the course of technology commercialization but also operate international networks to facilitate the commercialization of SMEs' technologies at an international scale. Although PBIFs are a promising new agent in the heterogeneous field of innovation intermediaries, their commercialization results and the actual rate of returns are not yet well established. |
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