This volume examines the involvement of minority- or women-owned businesses in technology-based research, with particular focus on the differences in research outcomes in achieving commercialization. Specifically, the authors empirically investigate the correlation between technologies from projects funded through the Phase II Small Business Innovation Research (SBIR) program and the minority or gender demographics of the owners of the businesses conducting the research. This study offers an opportunity to not only examine public-sector agencies’ investments in research, but also to investigate if there are race and/or gender gaps in such business’ participation in innovative activities. It also provides a means to understand innovation by minorities and women in the entrepreneurial ecosystem. Investments in fundamental science and technology research and investments in human capital through science, technology, engineering, and mathematics (STEM) education are important building blocks of innovation. Two methods of fueling innovation are to 1) accelerate the commercialization of federally funded research and 2) ensure opportunities for underrepresented minorities and women in the entrepreneurial ecosystem. Despite this understanding, there is still a disparity in the rates of educated men and women in STEM fields participating in entrepreneurship. Moreover, the link between underrepresentation of minorities and women across STEM fields correlates with entrepreneurial entry and performance. This book expands on these findings and estimates the probability that (1) a funded research project reaches completion, (2) the developed technology is commercialized, and finally (3) the commercialized technology is successful in the marketplace (i.e., the business gained revenue and market share from the technology).

The relationship between the innovative behavior and the minority status, gender, and immigration status of, for example, owners, directors, principal investigators, and project managers has only begun to be explored, especially within and among entrepreneurial organizations. Data limitations are certainly one culprit for the paucity of research in this area, but also the economics literature has been slow to move from a technical capital (i.e., investments in R&D) to an innovative behavior focus to an alternative focus that examines the relationship between dimensions of human capital of those who are involved with R&D investments and resulting innovative behavior. The chapters in this edited volume advance this body of thought. These chapters represent foundational research for a nature versus nurture discussion as it relates to innovative behavior, especially a discussion that considers the innovative behavior within and among entrepreneurial organizations. The chapters in this book were originally published as a special issue of Economics of Innovation and New Technology.

Technology Transfer and US Public Sector Innovation provides an overview of US technology policies that are the genesis for observed technology transfer activities. By describing the technology transfer process from US federal laboratories and other public sector organizations, this exploration informs the reader in detail of how the transfer process behaves and the social benefits associated with it.

While much has been written about the U.S. Small Business Innovation Research (SBIR) program from both an institutional and a policy perspective, there remains a conspicuous void of general information about firms and research projects that are funded through the program. Providing a multi-dimensional picture of such firms and their projects, this incisive book is designed to help the reader understand in more depth the social benefits associated with the SBIR program.