Abstract
Social innovations developed by academic spinoffs (ASOs) are acquiring an ever-increasing relevance in the literature on academic entrepreneurship. Previous studies have considered the importance of the social and institutional contexts of entrepreneurial ecosystems for the development of these innovations, although a greater depth of analysis is required in this field of study. This research analyzes the influence of the frequency of contact with agents of social and institutional contexts of the entrepreneurial ecosystem on the social innovations of ASOs. From a sample of 173 Spanish ASOs, the results indicate that frequent contact with government and academic support units improves this type of innovation of ASOs. Regarding social context, an increase in the frequency of contact with customers, suppliers, and competitors favors the development of social innovation. However, frequent contact with venture capital firms inhibits the development of this type of innovation.
Highlights
Recent studies within the literature on academic entrepreneurship highlight that academic spinoffs (ASOs) should constitute a focal point for academics and policy-makers, because they contribute towards economic renewal, industrial and regional change, and the economic development of emerging markets [1,2], and due to the social impact that the commercialization of their knowledge bases may provide [3,4]
Within this field of study, our work aims to answer two research questions: (i) What agents from the social and institutional contexts of the entrepreneurial ecosystem contribute to improve social innovation of ASOs?; and (ii) Which of these contexts, social or institutional, is more relevant? In general, our results indicate that both contexts are relevant for the development of social innovation, the university institutional context is the most relevant in the form of TTOs
Results showed that frequent contact with international clients, suppliers, and competitors positively contributes towards the development of social innovation in ASOs, while the establishment of close relationships with venture capital firms (VCs) reduces the likelihood of these firms developing social innovations
Summary
Recent studies within the literature on academic entrepreneurship highlight that academic spinoffs (ASOs) should constitute a focal point for academics and policy-makers, because they contribute towards economic renewal, industrial and regional change, and the economic development of emerging markets [1,2], and due to the social impact that the commercialization of their knowledge bases may provide [3,4] In this respect, several studies emphasize the role of ASOs in the development of social innovations from a sustainable perspective, and the influence that universities may have in promoting mechanisms that support the creation and development of said innovations [3,4,5,6,7,8]. The analysis of how social and institutional contexts of the entrepreneurial ecosystem can support the development of social innovations of ASOs constitutes a major research topic [9]
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