Leveraging entrepreneurship through private investments: does gender matter?

Leveraging entrepreneurship through private investments: does gender matter? Using project data from a random sample of Phase II research awards from the National Institutes of Health SBIR program, we estimate the relative probability that woman-owned firms are able to attract private investments to fund the transition of the technology developed under the sponsorship of the SBIR program to an innovation to enter the market. We find that women-owned firms are as much as 16% points less likely to attract private investment dollars compared to male-owned firms, factors excluding the size of the SBIR award held constant. Women-owned firms that received larger awards performed substantially better. Although the SBIR program has a legislated directive to increase the participation of woman-owned firms in the program, our findings suggest that it might not be sufficient to overcome market perceptions about the profitability of such investments actually bringing a developed technology to market. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Small Business Economics Springer Journals

Leveraging entrepreneurship through private investments: does gender matter?

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Publisher
Springer US
Copyright
Copyright © 2011 by Springer Science+Business Media, LLC.
Subject
Economics / Management Science; Management/Business for Professionals; Microeconomics; Entrepreneurship; Industrial Organization
ISSN
0921-898X
eISSN
1573-0913
D.O.I.
10.1007/s11187-011-9411-y
Publisher site
See Article on Publisher Site

Abstract

Using project data from a random sample of Phase II research awards from the National Institutes of Health SBIR program, we estimate the relative probability that woman-owned firms are able to attract private investments to fund the transition of the technology developed under the sponsorship of the SBIR program to an innovation to enter the market. We find that women-owned firms are as much as 16% points less likely to attract private investment dollars compared to male-owned firms, factors excluding the size of the SBIR award held constant. Women-owned firms that received larger awards performed substantially better. Although the SBIR program has a legislated directive to increase the participation of woman-owned firms in the program, our findings suggest that it might not be sufficient to overcome market perceptions about the profitability of such investments actually bringing a developed technology to market.

Journal

Small Business EconomicsSpringer Journals

Published: Dec 16, 2011

References

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