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FIGURE 1-1 NIH SBIR application and success rates. SOURCE: NIH SBIR Program. provided the first estimate of the number of firms affected by the ruling, it did not address two key questions that bear on the policy issue at hand.44 These are:
These questions may be of particular importance in the biotechnology sector, where there is a substantial concentration of venture capital funding. (See Box 1-6.) However, these are not easy questions to answer. Data on venture fund-
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