Do makerspaces affect entrepreneurship? If so, who, how, and when?

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Abstract

Research Summary

Makerspaces are physical spaces that offer individuals fabrication tools and materials (e.g., 3D printers) to make artifacts. Although not designed specifically for entrepreneurs, these spaces offer affordable access to rapid prototyping infrastructure. This study examines whether makerspaces affect entrepreneurship and, if so, who, how, and when. Leveraging hand-collected data on US makerspaces and large archival data on Kickstarter projects, I show that makerspaces positively affect entrepreneurial participation and subsequent commercialization outcomes. However, these effects are mostly specific to hardware (vs. nonhardware) activities that typically involve physical prototypes. I find that the effect on entry is driven more by new (vs. established) but intentional (vs. accidental) entrepreneurs and that the effect on commercialization comes from two operating and complementary channels—resource provision and social facilitation.

Managerial Summary

Despite a few high-profile anecdotal entrepreneurial successes that emerged from the increasingly popular makerspaces, whether these spaces have large-scale effects on entrepreneurship remains unclear. Do makerspaces encourage entrepreneurial participation, if so, who? Do makerspaces benefit entrepreneurial commercialization, if so, how? Are there any conditions determining when these effects would occur? This study demonstrates meaningful broad-based impacts of makerspaces on particular types of entrepreneurship with growth potential. The findings suggest that competitive, prominent accelerators and incubators are not the only avenues for entrepreneurs to achieve commercialization success. Useful insights are discussed for entrepreneurial program managers and policy makers designing systems and structures that support inclusive prosperity for entrepreneurs.

Abstract

Research Summary

Managerial Summary

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