Abstract
The considerable economic contribution of academic spin-offs (ASOs) has drawn numerous scholars’ attention to explore the factors that influence their development (Hossinger, 2020). The growing attention on these issues has led researchers to investigate the drivers and success factors that have the greatest impact on the performance of ASOs.This paper has been designed with a dual purpose. On the one hand, the document aims to examine how much a region's innovation index reflects positively on the performance of ASOs. On the other hand, the paper also examines in which sectors the impact of innovation on the performance of ASOs emerges most. The research hypotheses of these paintings were explored in an empirical study of 1,007 Italian spin-offs over a time range from 2010 to 2019. To carry out the analysis, a panel model with fixed effects was used, with an unbalanced dataset.
Highlights
1.1 Introduce the ProblemIn recent years, the role of universities has become increasingly central to local economic growth
This has been widely identified as a strategy to involve more entities and companies interested in technology transfer processes (Zucker et al 1998; Di Gregorio and Shane 2003) and to create the conditions for the capitalization of intellectual property and academic research (Goldstein 2010)
The creation of new business entities, in the form of academic spin-offs (ASOs), is an effective way for universities to contribute to local development in response to the lack of financial resources by cooperating with private companies (Cohen et al 1998)
Summary
The role of universities has become increasingly central to local economic growth This has been widely identified as a strategy to involve more entities and companies interested in technology transfer processes (Zucker et al 1998; Di Gregorio and Shane 2003) and to create the conditions for the capitalization of intellectual property and academic research (Goldstein 2010). The first scientific contributions elaborated on the third mission of universities date back to the early 1970s when we started talking about mission-oriented research in education (Stockton, 1970) It acquired the name of third-mission from the 80s (Gollattscheck, 1983) until it was consolidated in the late 90s when it made express reference to the connection between technology transfer, entrepreneurship and territorial competitiveness (Etzkowitz & Leydesdorff, 1998). The presence of facilitators (business incubators, business accelerators, technology parks, etc.) certainly makes the difference on the performance of ASOs (De Turi & Antonicelli, 2019)
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