Encouraging university researchers to bring their discoveries to market is a key component of many regional innovation strategies. But entrepreneurial activity by faculty may come at a cost, according to several recently published articles by Andrew A. Toole and Dirk Czarnitzki.
Toole and Czarnitzki examined the publication and commercialization histories of U.S. university-based life scientists and found that engaging in entrepreneurial activities tends to lower their publication rate, even after returning to the university full-time. This reduction in publication has a nontrivial impact on knowledge creation in the nonprofit research sector, particularly since researchers who engage in entrepreneurial activity tend to publish at a higher rate than other faculty before they leave to pursue private sector opportunities.
Although the commercialization of new technologies is important for the economy, reducing the research output of star professors could have longer-term negative consequences. The authors suggest that the correct balance of research and commercialization has not been achieved yet.
