291BPI France launched a scheme to co-finance the investment of firms specifically in the area of game-changing next-generation capital investments (e.g., nanotechnology, 3D-printing, industrial robots, digitalization, and virtual reality applications).13

4.3

Up or Out: Get the Incentives Right

Stimulating high-growth entrepreneurship and its supporting institutions (e.g., venture capital firms) requires careful thinking about incentives for the various actors. Getting the incentives right for HGEs requires more than just tax cuts and deregulation. It requires adjusting the balance between upside gains and downside losses. In the case of university spinoffs, for example, restrictions on the commercialization of intellectual property that was developed by faculty in their universities had a dramatic effect of a 50% reduction in university startups and also in patenting rates (Hvide & Jones, 2018). Getting the incentives right also involves broader thinking about incentives and trade-offs surrounding the decision to become an entrepreneur, such as the portability of health insurance (Acs et al., 2016) and pension plans (Elert et al., 2017). No-compete agreements are another area where incentives for corporate spinoffs can be either stifled or unleashed, depending on the