A Study of Relationship between Patents and Nascent Entrepreneurial Activity

Entrepreneurship has gained an important role in eyes of both policy makes, as well as researchers around the world. The effects of that can be felt through the increasing support provided by the governments toward entrepreneurial activity. To date, several links have already been made between entrepreneurial activity and economic growth, but what about patents? Can patents be used to represent the knowledge factor in the economic growth? This paper performs regressions on nascent entrepreneurial activity and patent application for eleven OECD countries in order find what kind of relationship exists between the two. The product of this research provides indication to a possible relationship and further study of this topic could help explain entrepreneurship as a knowledge filter.