Rethinking the commercialization of public science: From entrepreneurial outcomes to societal impacts

Riccardo Fini, Einar Rasmussen, Donald Siegel, Johan Wiklund

Research output: Contribution to journalArticle

39 Scopus citations

Abstract

Studies have demonstrated the importance of scientific research for innovation and economic performance at the firm and regional levels, and policymakers have extensively supported the commercialization of public science. However, we still lack theoretical and empirical evidence on the link between the commercialization of public science and broader societal impacts. Specifically, despite a large body of evidence on the determinants of science commercialization, mainly addressed in the literature on academic entrepreneurship, the consequences of such activities remain less explored. In this article, we seek to fill this void by viewing science commercialization as a means rather than as a final outcome. Instead of mapping the direct outcomes of the science commercialization process, mostly achieved through entrepreneurial activities, we see science commercialization as an enabler of broader societal impacts. This article outlines a research agenda on the societal impacts of science commercialization by extending current theories, data, and methods and exploring the need to consider ethical concerns and who is benefiting from these impacts.

Original languageEnglish (US)
Pages (from-to)4-20
Number of pages17
JournalAcademy of Management Perspectives
Volume32
Issue number1
DOIs
StatePublished - Feb 1 2018

ASJC Scopus subject areas

  • Business and International Management
  • Strategy and Management
  • Marketing

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