For this analysis the Massachusetts universities which provided information for the AUTM survey include Massachusetts Institute of Technology, Harvard University, Boston University, Brandeis University, University of Massachusetts-Amherst, and the University of Massachusetts Medical Center. These data are from the same institutions providing patent and invention disclosure information in indicator number 10. FDA approval of new drugs is comprehensive, requiring clinical trials and an extensive review process. This indicates the beginning of commercial activity. Therefore, the interval between concept and actual commercial activity is compressed into the current year.
Data are for the number and dollar value of awards distributed in each fiscal year.
Data on the total value and distribution of IPOs by industry sector are provided by Arthur Andersen. Market capitalization for an individual company is defined as the product of the number of shares outstanding times the share price on a given day. Corporate Headquarters Data on total number of corporate headquarters by state are provided by American Business Information. Data on location of Fortune 500 Companies in Massachusetts and the LTS was derived from the annual Fortune 500 List, 1999. Data on the unemployment rate by state are derived from the Bureau of Labor Statistics.