Our descriptive analysis of a random sample of businesses that received Phase II Small Business Innovation Research (SBIR) program awards shows that female-owned businesses are disadvantaged, compared to male-owned businesses, in their ability to attract alternative investment funding to...

The U.S. National Science Foundation’s (NSF’s) Division of Policy Research and Analysis (PRA) supported academic research related to, among many other things, measurement of the returns to private and public R&D, during the early 1980s. The findings from this body of research became a...

Entrepreneurship involves innovation and uncertainty. We outline a theory of entrepreneurship, which highlights the importance of social networks in promoting innovation and reducing uncertainty. Our findings suggest that this “social” aspect of entrepreneurship increases the probability of...