Turning scientific and technological human capital into economic capital: the experience of biotech start-ups in France

This paper examines how scientific and technological (S&T) human capital is transformed into financial capital through the creation of firms by scientists. The analysis is based on a database describing the positions held by 132 founders from 62 French biotech SMEs. It shows that star scientists...

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Bibliographic Details
Published inResearch policy Vol. 33; no. 4; pp. 631 - 642
Main Authors Corolleur, Catherine D.F., Carrere, M., Mangematin, V.
Format Journal Article
LanguageEnglish
Published Amsterdam Elsevier B.V 01.05.2004
Elsevier
Elsevier Sequoia S.A
SeriesResearch Policy
Subjects
Biotechnology
Business administration
Enterprises
Entrepreneurship
Founder
France
Human capital
Humanities and Social Sciences
Policy studies
Science and technology
Science policy
Scientist
SMEs
Startups
Studies
Technological transfer
Technology transfer
Biotechnology
Human capital
Scientist
Technological transfer
J24
Founder
M13
SMEs
O32
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Summary:This paper examines how scientific and technological (S&T) human capital is transformed into financial capital through the creation of firms by scientists. The analysis is based on a database describing the positions held by 132 founders from 62 French biotech SMEs. It shows that star scientists engage in highly risky but also valuable firms. Less famous scientists must develop their human capital rather than valorising a stock. The paper concludes by pointing to three paradoxes concerning the commitment and compensation scheme of star scientists and the managerial position of less known scientists.
Bibliography:ObjectType-Article-2
SourceType-Scholarly Journals-1
ObjectType-Feature-1
content type line 23
ISSN:0048-7333
1873-7625
DOI:10.1016/j.respol.2004.01.009