Abstract
Spin off companies refer to firms created by university laboratories, the generation of this type of companies has a pull effect through the diffusion, imitation and innovation of the company even at long-term for economic development. In order to generate this type of business, an articulated set of legislative, cultural and financing, instruments are required. In addition, various actors must be involved; aligned to achieve local development. The ability of universities to create spin off companies depends on their background and favorable regional conditions. This research aims to identify the main challenges during spawn university spin off companies in Mexico, thus, it is necessary explore the consequences and analyze key factors of entrepreneurial university scheme, at the end of this paper illustrates Mexico’s outlook and the conclusions. There are four major challenges that universities faces: first, the lack of clear and effective internal regulations and paperwork processes for intellectual property management and proper commercialization strategies for technological developments; second, is not hiring specialists for Technology Transfer Offices at Higher Education Institutes (HEI) and Public Research Centres (PRC) to generate capabilities; third, inherent complexities of business training and entrepreneurship education, to enhance management competences and business venture, and fourth, decision-maker authority at HEIs and PRCs must develops an enabling environment as governance mechanisms that support and prioritize such processes, so that could be translated into punctual actions with concrete results.
Highlights
The innovation capacity of a country or region is closely linked to its capacity for creating, valuing and disseminating knowledge
Among the findings found through the analysis of the literature, as well as empirical contributions, it is highlighted that there is a positive and statistically significant relationship between the creation of spin offs and the tradition and experience of the university in carrying out entrepreneurial activities, access to financial resources for research and develpment (R&D) and innovation, and the presence and effective experience of Technology Transfer Offices (TTO) at the university (Beraza and Rodríguez, 2011)
Introducing a business strategy is an imperative for the actions of Higher Education Institutes (HEI) and Public Research Centres (PRC) in the technology market and the generation of new products and services that meet the needs of society
Summary
The innovation capacity of a country or region is closely linked to its capacity for creating, valuing and disseminating knowledge. The process of creating Technology-Based Enterprises (TBE) requires an articulated enviroment such as: government, universities, society, stakeholder, businessmen, economic, social cultural and political factors; these must be articulated to achieve local development environment It gathers endogenous development approach as part of a participatory conception (Perkmann & Walsh, 2007; García et al, 2017). The following methodology was used; analysis of the literature and findings, it was helpful for disseminating results and experiences in order to establish a starting point to delve into the topic for future research, either as a sectoral, regional or national approach For this purpose, the work is structured on four sections, the first of them explores the implications for entrepreneurial university schemes analyzes key factors and challenges that spinoffs companies face, by the end of this paper recommendations are proposed
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