University Spin-outs: What do we know and what are the policy implications? Evidence from the UK

Mike Wright,Kun Fu

doi:10.24840/2183-0606_003.004_0002

Abstract

This letter from academia reviews the academic literature and provides an overview of the trends in spin-outs from universities in the UK. We argue that it is important to develop a more comprehensive ecosystem for academic entrepreneurship that includes a wider range of actors and mechanisms. We outline a framework of such an ecosystem and accompanying research agenda.

Highlights

As in many other countries, spin-outs by academic scientists have become a central means of research commercialization by UK universities
In this letter from academia, we argue that in the light of experience with spin-outs by academic faculty, it is important to develop a more comprehensive ecosystem for academic entrepreneurship that includes a wider range of actors and mechanisms
Five distinct types of business activities pursued by academic entrepreneurs; as business models evolve the ventures may enter different types of business activity technology transfer offices (TTOs) Exhibit Decreasing Returns to Scale and Low Levels of Absolute Efficiency; Organizational and Environmental Factors Have Considerable Explanatory Power Rate of spin-out creation Positively Associated with university expenditure on IP Protection, Business Development Capabilities of TTOs, and the Extent to Which its Royalty Distribution Formula Favors Faculty Members Of five incubation models identified, only three match resources, activities & objectives: low selective, supportive & incubator, giving rise to different types of spin-outs