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Government as entrepreneur: Evaluating the commercialization success of SBIR projects

机译：政府作为企业家：评估SBIR项目的商业化成功

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Thinking of government as entrepreneur is a unique lens through which to view a subset of government actions. The lens is not a template for an evaluation of government policy; rather, it is a characterization that underscores the government's purposeful intent, ability to act in new and innovative ways, and willingness to undertake policy actions that have uncertain outcomes. Our focus is on the U.S. Small Business Innovation Research (SBIR) program. We argue that the innovative action of government - the innovative use of public resources through the SBIR program to target and support research in small firms - does lessen innovation barriers that cause small firms to underinvest in R&D. However, this government action is subject to entrepreneurial risk, namely the a priori uncertainty that the funded research will result in a commercialized product, process, or service. We quantify the uncertainty that the government accepts in the context of innovation supported by the SBIR program; or stated alternatively, we quantify the probability that a project funded by the SBIR program will fail to commercialize its results. Our empirical results show that the entrepreneurial risk that characterizes the SBIR program is, on average, somewhat more than the probability of failing to get heads on the toss of a fair coin. Importantly, however, our evidence shows that there is a large range in the entrepreneurial risk that the government accepts—across the projects, the predicted probability of failure covers essentially the entire range from 0 to 1.0.
机译：将政府视为企业家是观察政府行为子集的独特视角。镜头不是评估政府政策的模板；相反，它是一个特征，强调了政府的目的性意图，以新颖和创新方式采取行动的能力以及愿意采取结果不确定的政策行动的意愿。我们的重点是美国小企业创新研究（SBIR）计划。我们认为，政府的创新行动-通过SBIR计划创新地利用公共资源来瞄准和支持小型企业的研究-确实减轻了导致小型企业对研发投资不足的创新障碍。但是，这种政府行为会受到企业风险的影响，即受资助的研究将导致商品化产品，过程或服务的先验不确定性。我们在SBIR计划支持的创新背景下，量化了政府接受的不确定性；换句话说，我们量化由SBIR计划资助的项目无法将其结果商业化的可能性。我们的经验结果表明，表征SBIR计划的创业风险平均而言，要比未能赢得公平竞争的可能性要高得多。但是，重要的是，我们的证据表明，政府接受的创业风险存在很大范围，在整个项目中，预计的失败概率基本上涵盖了从0到1.0的整个范围。

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