Abstract
Universities play an important role in developing and transferring technology. In Italy, much innovation takes place where universities are located outside large towns, as in the case of VisLab. 
 
 VisLab, the Vision and Intelligent Systems Laboratory, founded by Prof. Alberto Broggi of Parma University, is a pioneer in perception systems and autonomous vehicle research. It is also the spin-off of the University of Parma acquired by Silicon Valley company Ambarella Inc., in July 2015 for $30 million. After the deal, VisLab remained in Italy and all the staff, about thirty researchers, were hired by VisLab for the Parma location. 
 
 This paper examines the university-industry interaction and, in particular, academic spin-off, as a source of economic growth, pointing out the importance of the context. The study describes the main characteristics of the VisLab case, including the possible alternative strategies, the structure of the final M&A deal and the advantages deriving from Parma and surrounding area.
 
 Despite, or perhaps because of its originality, the VisLab case seems to confirm the rule. It suggests that universities can play a key role in technology transfer: universities provide knowledge and trained personnel to firms, facilitating interaction between research and industry. Thus, policy makers should promote the commercialisation of research outcomes.
Highlights
Transfer of knowledge from universities to industry is a key issue
Focusing on academic spin-offs, we describe their impact on economic development
Fini et al, (2011) analyse the role of University Level Support Mechanisms (ULSMs) for the creation of spin-offs and the way they interact with Local-Context Support Mechanisms (LCSMs), available in the regional area in which universities operate
Summary
Transfer of knowledge from universities to industry is a key issue. Technology transfer contributes, to promoting economic and social development, competitiveness and business innovation (Guldbrandsen and Smeby, 2005). In this paper we examine a success story from the Emilia Romagna region in Italy, which is considered by the European Commission as one of the most important in Europe with regard to start-up research firms. This is the case of VisLab (Vision and Intelligent Systems Laboratory), which is a spin-off of the University of Parma. We contribute to the literature by introducing a case of an academic spin-off which started in Italy and, in particular, in a provincial town, demonstrating that the local level can be an important distinguishing factor It is a clear example of how universities interact with regional context in achieving results at national and international level. This is possible only if people involved in the challenge show confidence, knowledge, expertise and take an open and forward-looking vision
Sign-in/Register to view highlights & summary Sign-in/Register to access full text options 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
