Authors, please upload your paper here.

 

 

NATIONAL BUREAU OF ECONOMIC RESEARCH

 

Changing Financing Market for Innovation & Entrepreneurship

 

Antoinette Schoar, Malcolm Baker, Josh Lerner and David Sraer

Organizers

 

November 8 and 9, 2013

 

Oceano Hotel & Spa

Montara Room

280 Capistrano Road

Half Moon Bay, CA

 

PROGRAM

 

Friday, November 8th 2013

 

 

6:30 pm

Reception and Dinner

Atrium Room, Oceano Hotel & Spa

 

Keynote: Ray Rothrock, Venrock     

 

 

Saturday, November 9th 2013

 

8:00 am

Continental Breakfast – Montara Room

 

8:30 am

Crowdfunding’s Role in the Rate and Direction of Innovative Activity

 

Ajay K. Agrawal, University of Toronto and NBER

 

Christian Catalini, University of Toronto

 

Avi Goldfarb, University of Toronto

 

 

 

Discussion: Scott Stern, Massachusetts Institute of Technology and NBER

 

 

9:20 am

Angels and Venture Capitalists: Complements or Substitutes?

 

Thomas F. Hellmann, University of British Columbia and NBER

 

Paul Schure, University of Victoria

 

Dan H. Vo, University of Victoria

 

 

 

Discussion: Rick Townsend, Dartmouth College

 

           

10:10 am

Break

 

 

10:30 am

Entrepreneurship and the Cost of Experimentation

 

Michael Ewens, Carnegie Mellon University

 

Ramana Nanda, Harvard University

 

Matthew Rhodes-Kropf, Harvard University and NBER

 

 

 

Discussion: David Hsu, University of Pennsylvania

 

 

11:20 am

Do Local and International Venture Capitalists Play Well Together? Venture Capital Investments and the Development of Venture Capital Markets

 

Thomas J. Chemmanur, Boston College

 

Tyler J. Hull, Norwegian School of Economics

 

Karthik Krishnan, Northeastern University

 

 

 

Discussion: Yael Hochberg, Northwestern University and NBER

 

 

12:10 pm

Lunch – Miranda Room

 

 

1:00 pm

Panel Discussion

 

 

 

Sergio Monsalve, Norwest Venture Partners

 

Kevin Laws, AngelList

 

Patrick Chung, New Enterprise Associates

 

 

2:30 pm

Understanding Business Angel Networks

 

Marco Da Rin, Tilburg University

 

Maria Fabiana Penas, Tilburg University

 

 

 

Discussion: Manju Puri, Duke University and NBER

 

           

3:20 pm

Bridging Science and Technology through Academic-Industry Partnerships

 

Sen Chai, Harvard University

 

Willy C. Shih, Harvard University

 

 

 

Discussion: Shai Bernstein, Stanford University

 

 

4:10 pm

Break

 

 

4:30 pm

European Venture Capital: Myths and Facts

 

Ulf Axelson, London School of Economics

 

Milan Martinovic, London School of Economics

 

           

 

Discussion: Morten Sorensen, Columbia University and NBER

 

 

5:20 pm

Reception – Miranda Room

6:30 pm

Adjourn