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Show moreDifferent geographic regions in the United States have experienced varying degrees of entrepreneurial activity that give rise, maturity and in many cases declines in regional industry vertical strengths. We investigated the medical device industry in Minnesota to explain how entrepreneurial or new venture communities emerge, operate and perform. Absorptive capacity, social network theory, agent-network theory and technology diffusion are clearly evident phenomena observed. We used a qualitative, grounded theory methodology to interview 20 experts with knowledge of the ecosystem studied. We found significant development impediments created with the emergence of policy that has slowed technology commercialization as the regional medical device industry has matured. We also found, contrary to other research, the significance of intellectual property is less relevant as the market matures. Implications of this research include careful consideration of policy decision impacts on market growth and the level of importance of intellectual property as medical device technologies mature. Further research would include a more encompassing analysis of policy decisions on different technology developments as well as the changing role of the university in commercializing technology. Keywords: Entrepreneur, entrepreneurial ecosystem, intellectual capital, human capital, social capital, university, research, transfer.
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