Bao, J. (2025). Do makerspaces affect entrepreneurship? If so, who, how, and when?. Strategic Management Journal, 46(2), 502-533.

Summary

Bao provides empirical evidence that makerspaces—collaborative workspaces offering access to fabrication tools like 3D printers and laser cutters—are a significant catalyst for hardware entrepreneurship in the U.S. The study confirms a positive effect on both entrepreneurial participation (entry) and subsequent commercialization outcomes, positioning makerspaces as vital entrepreneurial infrastructure beyond traditional incubators.

Crucially, this benefit is highly specific: it is concentrated on hardware-based ventures that require a physical prototype and is primarily driven by intentional entrepreneurs actively pursuing business goals, rather than hobbyists or established firms. Makerspaces operate through two complementary channels: resource provision, which democratizes access to expensive equipment, lowering the cost and time barrier to initial prototyping; and social facilitation, which fosters knowledge spillovers and collaboration essential for market success. The study highlights makerspaces' ability to promote inclusive economic prosperity, particularly in regions with resource-constrained entrepreneurial ecosystems.

5 Key Findings

1. Catalyst for Hardware Ventures: Makerspaces significantly boost the entry and commercialization success of businesses, but this effect is specifically tied to hardware activities that require physical prototypes (e.g., physical products), not non-hardware or software ventures.

2. Democratization of Resources: They serve as a primary channel for resource provision, drastically lowering the technological entry barrier. By providing shared access to expensive fabrication tools, makerspaces reduce prototyping costs and time by up to 50-fold, accelerating product development.

3. Fosters Intentional Entrepreneurs: The increased entrepreneurial activity is driven by new and intentional entrepreneurs—individuals actively seeking to launch a venture—rather than "accidental entrepreneurs" or hobbyists who stumble into a business idea.

4. Accelerates Success via Social Capital: Makerspaces function through social facilitation, where the collaborative, open environment generates crucial knowledge spillovers, networking, and peer learning, which are key to improving commercialization success rates.

5. Infrastructure for Inclusive Prosperity: The impact of makerspaces is greatest in resource-constrained regions with underdeveloped entrepreneurial ecosystems. This finding emphasizes their role in designing supportive structures that enable inclusive economic growth for founders who lack traditional access to capital and infrastructure.