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The Bulletin on Entrepreneurship

Introducing recent NBER entrepreneurship research and the scholars who conduct it
Startups Drive Commercialization of High-Impact Innovations figure
Startups have more incentive than incumbent firms to engage in potentially disruptive R&D because large, established firms have more to lose from the discovery of new technologies that replace traditional ways of doing things. With no existing operations, startups have nothing to lose and much to gain from disruptive innovation. In Of Academics and Creative Destruction: Startup Advantage in the Process of Innovation (NBER Working Paper 30362), Julian Kolev, Alexis...

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Gender and Race Gaps on the Path to Startup Success figure
Depending on the data source, 12 and 28 percent of high-growth startups are run by women, although women make up 45 percent of the overall labor force. Fewer than 10 percent of entrepreneurs are Black. In Race and Gender in Entrepreneurial Finance (NBER Working Paper 30444), Michael Ewens surveys available data and presents a framework for assessing gender and race gaps in startup founding, financing, and growth.   The startup path is complex: individual...
The Influence of Expert Ratings on Job Seekers' Choices figure
Job seekers would apply to higher-quality startups if they had access to better information about their business models and underlying science, Kevin A. Bryan, Mitchell Hoffman, and Amir Sariri find in Information Frictions and Employee Sorting between Startups (NBER Working Paper 30449). When the researchers provided job seekers on a custom job board with expert ratings of the business model quality and underlying science viability of 26 science-based startups, job...

On the one hand, says Josh Lerner, many government efforts to try to boost entrepreneurship and innovation “are pretty ill-considered and best avoided.” On the other, “in many cases, if you just wait around for innovation and entrepreneurship to show up spontaneously, it’s not going to happen.” Lerner, the Jacob H. Schiff Professor of Investment Banking at Harvard Business School and codirector of the NBER’s Productivity, Innovation, and Entrepreneurship Program, has made...

The NBER Bulletin on Entrepreneurship highlights economic research on the factors that stimulate and support successful entrepreneurial activity, the community of entrepreneurs, and the impact of entrepreneurs and the businesses they create on the broader economy. This digital bulletin, distributed twice each year, also introduces a leading scholar of entrepreneurship and highlights NBER projects that promote research on entrepreneurship. The NBER's Entrepreneurship Working Group and related initiatives are supported by the Ewing Marion Kauffman Foundation.

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