Abstract
Creation of university spin-offs has become one of the most supported ways for the university to accomplish the objective of knowledge transfer to the society. Since university spin-offs (USOs) are firms created to commercialize knowledge or technology developed by academic research, a key source of the potential contribution of USOs to knowledge economy lies in their innovation ability. External factors, like knowledge spillovers, might influence USOs’ innovation. This study tests the hypothesis that the regional context may partly determine the innovative performance of USOs. By applying an “interactionist approach,” we estimate a two-level logistic random intercept model for a sample of 167 USOs located in ten Spanish regions. Our results confirmed that firm-specific characteristics are important for explaining the innovative performance of USOs but show that regional context matters too.
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