I've worked in both and I prefer the startup. In a startup, you're a fast-moving cutting-edge company with people who really believe in your product or idea.

I've worked in both and I prefer the startup. In a startup, you're a fast-moving cutting-edge company with people who really believe in your product or idea. Every meeting is energetic and your input matters. In a research-heavy institution, it can be fun, but the scientists get most of the glory and creative work while the engineers just put the tools together for the customer or scientists. Research money tends to be less than startup money if the startup prospers.