Abstract
This study aimed to find out how academic assets are interconnected with firm creation by academic staff at different academic life-cycle stages. The applied theoretical setting integrated resource-based and life-cycle explanations of academic entrepreneurship. A longitudinal whole population dataset of Estonian academic workers was applied, with a dependent variable reflecting firm creation, and independent variables representing different academic assets. The logistic regression results indicated the varying importance of different academic assets at different academic career stages, while divergence also exists with respect to academic discipline. The results enable postulating several theoretical propositions, accompanied by practical implications for technology transfer at universities.
Highlights
Knowledge created at universities plays an important role in driving innovation and contributes to the economy and society, while its importance has especially grown in recent decades [1,2,3]
The paper aimed to find out which academic assets associate with firm creation at different academic career stages; while the extant literature has mostly remained silent about the potential dynamics of entrepreneurship determinants
Logistic regression was implemented to test which academic assets were associated with business creation by academic staff at four career stages, determined by an individual’s age
Summary
Knowledge created at universities plays an important role in driving innovation and contributes to the economy and society, while its importance has especially grown in recent decades [1,2,3]. The methods of transferring knowledge created at universities into society are diverse and can be both official and unofficial [6,7]. In order to explain why some academic workers are more likely to create spin-off companies than others, Landry et al [12] created a theoretical concept relying on the resource-based theory of the firm. According to this concept, academic workers as entrepreneurs have access to different resources, which in turn vary from one individual to another and affect the likelihood of firm creation
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