Impact of regional systems of innovation on the formation of university spin-offs by biomedical star scientists

Abstract

Scientists in research universities can play a formative role in commercialising their inventions for the benefit of society. University spin-off formation is increasing in importance as an alternative to licensing, and can be impacted by both micro and macro-level factors of the regional system of innovation. However, there is limited understanding of the ways in which these factors can interact to enable the formation of university spin-offs. In this study we examine how the productivity of two biomedical star scientists in co-founding university spin-offs can be supported or constrained by other elements of the regional system of innovation. Recommendations are made for research universities seeking to foster entrepreneurship through university spin-off formation.