When knowledge married capital: the birth of academic enterprise

Abstract

Purpose

This paper aims to investigate knowledge‐capital relationship through tracking the history of knowledge commercialization.

Design/methodology/approach

Theoretical exploration, historical evidence and interviews are used in this research. Firstly it recalls the convergence of academic knowledge and industrial capital. Then the knowledge‐capital marriage is observed. Finally, the paper discusses the impact of the marriage on future enterprise development.

Findings

The combination of knowledge and capital is inevitable; the knowledge‐capital marriage is the origin of contemporary academic enterprise; the future enterprise will more rely on knowledge‐capital combination.

Originality/value

This study is helpful to policymaking: to promote the combination of knowledge and capital in less developed countries or regions, achieving knowledge‐capital interaction in innovation system.

Citation

Etzkowitz, H. (2013), "When knowledge married capital: the birth of academic enterprise", Journal of Knowledge-based Innovation in China, Vol. 5 No. 1, pp. 44-59. https://doi.org/10.1108/17561411311320969