University Spin-offs Research Articles

Exploring the co-creation-innovativeness paradox: distance as an ecosystem characteristic of university spin-offs

Through empirical investigations into university spin-offs (USOs), we discovered innovativeness benefits derived from maintaining both academia and business partners at a distance. Distance should not be misconstrued as isolation; rather, it emphasises specific attributes where partners are maintained at arm’s length, affecting co-creation. Consequently, this paper explores how distance impacts the co-creation and innovativeness of USOs. It presents a longitudinal case study of a Swedish USO and conceptualises various types of distances, including actor-type, industry, supply-chain, geographical and knowledge-related distances. We explore the interplay between these different distance types as antecedents to USOs’ innovativeness and co-creation activities. The paper contributes to the existing literature by introducing the concept of distance as a critical characteristic affecting innovativeness and co-creation. By delineating various types of distances, it refines previous research on the characteristics of firm connections within university and business ecosystems.

The Spin-Offs: Components of a Systemic Model for the Creation of Economic Value at the National University of the Altiplano Puno

Objective: Determine the impulse of the components of the spin-offs that allow the creation of economic value in the area of ​​economic-business sciences of the National University of the Altiplano Puno. Theoretical Framework: University spin-offs arise from the knowledge, technology or research results generated within a university, from its components: level of maturity of the technology, level of entrepreneurial intention and the maturity of the ecosystem. Method: The methodology is a descriptive-correlational design, quantitative approach, non-experimental. The population was made up of students and teachers from the area of ​​economic and business sciences of the National University of the Altiplano Puno, with a sample of 453. The technique for data collection was a questionnaire. Results and Discussion: The results obtained were a correlation coefficient r = 0.830 in the level of technology maturity (fair), r = 0.876 in entrepreneurial intention (good) and r = 0.752 in the maturity of the ecosystem (fair). The component that facilitates the creation of technology-based companies or university spin-offs is the level of entrepreneurial intention, with a high level. Suggesting that to strengthen a spin-off, it is crucial to have well-developed technology, motivated entrepreneurs and a favorable ecosystem. Research Implications: the model provides a strategic framework for students, teachers and university authorities to develop the components of spin-offs to increase economic value. Originality/Value: This study contributes to the literature on spin-offs. The relevance and value of this research is evident in the results.

International Drug Repurposing Patent Landscaping, Part 1: Rare Diseases 2010–2023

In this first installment of a series of papers on landscaping of drug repurposing patents, we present an analysis in the context of rare diseases. Using the RepoScope drug repurposing database, developed as part of the REPO4EU Horizon Europe project, we identified 190 documents that were published through the international PCT (Patent Cooperation Treaty) patent system from 2010 to 2023. These documents claimed utility in a total of 98 rare diseases. We provide detailed tabulated summaries for two representative disease classes: lysosomal storage diseases and muscular dystrophies. High variability in active pharmaceutical ingredients indicated high levels of innovation. Seventy-five percent of rare disease drug repurposing patents were filed by small/medium pharmaceutical companies or universities, often university spin-offs. Big pharmaceutical companies show limited interest in this area, as reflected by their low representation. Approximately one-third of all patent disclosures came from the United States and the European Union (EU). The EU demonstrated a stronger position in patenting for rare diseases than general pharmaceutical patenting. Patentees from China, Korea, and Japan, who are notable in the general pharmaceutical field, showed limited interest in rare disease drug repurposing patents, in contrast to their publication record in this area.

The influence of Corporate Governance Structure on the Enterprise Performance of University Spin-Offs: Evidence from Universities in Hubei Province, China

Much of the university spin-offs (USOs) literature either focuses on the influence of parent universities or the external environments on enterprise performance in economies with one aspect almost always neglected, that is, the role of USOs’ corporate governance. In this study, we examine the effects of USOs’ corporate governance structure which includes equity structure, board size and organizational form, on enterprise performance in a Chinese context, as well as the moderating effect of human capital on the relationship between board size and enterprise performance. This study takes 150 enterprises in 42 universities in Hubei Province as samples in 2017 using the weighted least square (WLS) method. The research finds evidence of positive relationships between equity structure and enterprise performance, as well as between board size and enterprise performance. However, a positive effect is not found between organizational form and enterprise performance, which shows a prominent negative effect. Moreover, human capital which is partially positive, influences the relationship between board size and enterprise performance. Therefore, these findings add some potentially noteworthy dimensions to the USOs literature that are especially important to USOs’ policy makers and other stakeholders.

University Spin-offs in the Business Transformation of the University of the Century

University spin-offs play a crucial role in the business vision of the postmodern university by generating technological products and intellectual property, allowing the articulation among the academia, the public sector and the society. The research aimed to determine the validity of university spin-offs and the role they play in the generation of innovation, development of science and technology transfer. The study is qualitative, based on documentary sources of specialized articles in indexed databases, of which 26 were selected based on criteria related to the topic, successful experiences in the creation and operation of these companies. The content analysis technique was used with emphasis on argumentation, narration and enunciation. Among the main results, it can be mentioned that university spin-offs play an important role as means for technology transfer, however, they require improving and innovating management, organizational structure and institutional culture. Furthermore, a regulatory framework is needed in order to promote the operation of these entities and to strengthen the relationship and cooperation among the university, the State and the business sector. The adoption of an entrepreneurial mindset in universities, both public and private, is essential to improve competitiveness and support teaching, research.

University innovation ecosystems and innovation channels

Universities play a fundamental role in the economy and social development. In this role they use different channels for the inception of innovations in markets. It is still necessary a systematic view capable of identifying the existent innovation channels and their relationship with the university innovation ecosystem. Drawing upon the university-industry literature, this article outlines a conceptual framework about the university innovation channels, the main agents of university innovation ecosystems and their respective roles in the technology-transfer process. This framework is based on three layers: 1 – macro-context; 2 – micro-context; and 3 – internal-context. There are identified three types of innovation channels: 1 – university spin-offs; 2 – cooperation with external agents; and 3 – licensing of patents. This framework is validated by a qualitative approach through visits and interviews with nine agents (4 spin-offs; 1 technology center; 2 science parks; and 2 business incubators) of three different university innovation ecosystems in Brazil. This article contributes to the theory presenting an integrative perspective about the agents of university innovation ecosystems, explaining how they contribute to the university innovation channels insert innovations in markets. For the practice this article can guide the assessment and planning of the improvement of university innovation ecosystems.

ENTREPRENEURSHIP CASE OF PROFESSORS

Objective: The paper aims to analyse the stages and problems involved in the creation of a technology-based university spin-off by providing a real case study. Theoretical Framework: The main concepts supporting the research are discussed, as well as the theoretical framework of reference. It addresses the stages of the process of setting up a university technology-based company, as well as the specific problems that it involves. All issues are presented in a real context. Method: The methodology adopted for this research is based on a case study for teaching application. To this end, information is gathered through observation, direct interviews with the company under study, public documentation, and theoretical review through scientific databases of impact. Results and Discussion: The results were reflected in the development of a university teaching activity with guidelines for the teachers coordinating its implementation, in terms of objectives and reference bibliographic material to be used. It was contextualised in the light of the theoretical framework, highlighting the implications, basically at the level of reinforcement and acquisition of competences. Research Implications: The paper has essentially practical implications, providing information that reinforces the existing scientific literature on how the decision-making process that leads to the setting up of a technology-based university spin-off takes place and the problems associated with it. This allows a vision that enables a more effective and efficient execution of the entrepreneurial decision. Originality/Value: This is a real case of application in the university classroom, which allows students to assimilate the issues related to the process of entrepreneurship and, specifically, to the setting up of a technology-based university spin-off, dealing with its specific problems. Students' skills are strengthened with a view to their incorporation into the world of professional life.

Factores que inciden en la creación de <i>spin-offs</i> universitarias: un análisis multinivel desde la literatura

Spin-offs have been the subject of research over the past few decades due to their impact on the economy. Its creation process is complex because it involves elements and actors of diverse nature. Therefore, the objective of this work was to analyze the factors influencing the creation of university spin-offs from a multilevel perspective. Through a systematic literature review, from an analytical standpoint, organizational, individual, institutional, and contextual elements were identified to play a crucial role. This approach provides a more complete view of the complexity of the spin-off creation process, highlighting the dynamic interaction between multiple factors, and contributes to promoting innovation and knowledge transfer from academia to the market.

Analysis of the conditions for the creation of pharmaceutical university spin-offs within a public university in Burkina Faso

This study aimed to analyze the legal framework for the creation of university spinoffs, particularly those in the fields of medicine and pharmacy in Burkina Faso. This was carried out through a literature review, supplemented by interviews with resource persons from the sectors in charge of commerce, industry, finance, scientific research and innovation, health, and youth.
 In Burkina Faso, there are no specific provisions for promoting university spinoffs. A Simplified Joint Stock Company is the most appropriate legal form for these types of companies. Moreover, these laws do not favor the mobility of researchers in entrepreneurship. In addition, university spinoffs are subject to the same tax pressure as conventional companies. Nevertheless, the University of Joseph KI-ZERBO supported project leaders through its incubator. However, its lack of status, insufficient material, and financial resources limit its actions.

Making the whole university entrepreneurial – decades of legitimacy-building through Chalmers School of Entrepreneurship

This article investigates how more than 25 years of combined entrepreneurial activities have not only developed the third mission of an entrepreneurial university but also improved the first and second missions of education and research. The case, Chalmers School of Entrepreneurship, displays how faculty and annual cohorts of student surrogate entrepreneurs taking on university spinoffs, champion pragmatic and moral legitimacy eventually resulting in cognitive legitimacy within the university and beyond. The effects have not only been commercial, making Chalmers University of Technology into a leading European incubation environment, but have also stimulated education and research to become more entrepreneurial. The article introduces an intrapreneurial capability approach to transforming entrepreneurial universities where legitimacy-building over decades around a new entrepreneurial model complements an incrementalist understanding of university development.

Do exploration and exploitation in university research drive early-stage equity financing of university spin-offs?

An emerging theme in the entrepreneurial university (EU) literature is how universities should evolve to best reconcile their different missions, particularly research and commercialization, which often require different sets of resources. This tension is evident in the development of university spin-offs (USOs). In particular, the EU literature has generally overlooked how characteristics of university research affect USO’s early-stage access to external equity. In this study, we embrace the characterization of university research offered by literature in terms of patterns, specifically, exploration and exploitation. Through the lens of the imprinting perspective, we study the effect of exploration and exploitation in university research on the early-stage equity financing of USOs on a unique dataset that covers a sample of 739 USOs from 39 Italian public universities founded from 2011 to 2019. Our results indicate that exploration (exploitation) in research has an overall positive (negative) impact on the likelihood of USOs obtaining early-stage external equity financing. Additionally, this exploratory study offers several conceptual and practical contributions to the EU literature.

The role of pre-formation intangible assets in the endowment of science-based university spin-offs

The role of pre-formation intangible assets in the endowment of science-based university spin-offs

Beyond the good and the right: Rethinking the ethics of academic entrepreneurship from a relational perspective

This paper critically reviews the ethical resonance of the academic entrepreneurship (AE) phenomenon in light of contemporary concerns about ethics and responsibility in public engagements with science, technology and the commercialisation of technological discoveries through the creation of university spin-offs. In this context, we address the question of how we can know when we may consider AE as being ethical. We draw on the works on ethics of the French philosopher Paul Ricoeur ̶ one of the most influential thinkers of the twentieth century ̶ to provide an answer which encompasses but also goes beyond the association of ethics solely with ‘good’ purposes or ‘right’ norms to value it in each situation by paying special attention to how academic entrepreneurs behave in their relationships with others. We conclude that it is the manner and quality of open, generous, meaningful and appropriate ‘self-regulation’ that defines academic entrepreneurs as ethical individuals. The paper helps to improve the understanding of ethics in this field and may also illuminate academic entrepreneurs and university policymakers seeking to improve qualitative outcomes in university spin-offs.

Process and variance research: Integrating research on university spinoff evolution

University spinoffs (USOs) are firms created to commercialize research outcomes or innovative technologies developed by university members. This paper adopts a systematic literature review approach for explorinhe trajectory of the USO research field. It categorizes the literature based on two perspectives: the process of how USOs develop and what factors can explain the variance of USO development; the paper critically examines the USO literature through these two lenses. By integrating these two perspectives and examining 120 peer-reviewed journal articles published between 1987 and 2022, we develop a comprehensive model of USO development. The paper contributes to the extant literature on academic entrepreneurship by contending that while the “how” and “what” questions pose unique challenges for USO scholars, they cannot be separated because the process and variance models are complementary and important in advancing research on USOs. As such, we explore and identify specific factors that affect each of the distinct phases of the USO development at the institutional, organizational, and individual levels of analysis which form the basis for a rich future research agenda.

Extended cyclic innovation model as a tool for failure identification in innovation management. Case study of 25 years of CMOS image sensor technology in Belgium

This paper focuses on 25 years of CMOS image sensors in Belgium, starting with a successful university spin-off in the late 1990s. We rely on exploratory research using semi-structured interviews with this spin-off’s key protagonists. We follow them through time: founding five small businesses and being subject to three take-overs by multinationals. Using the Cyclic Innovation Model as a reference frame, we enlarge upon its Entrepreneurship Node and add Organizational Context to the model. Applying the model on the businesses we reviewed, we also demonstrate its usefulness in identifying failures in a company’s innovation management.

Science‐based innovation via university spin‐offs: the influence of intangible assets

University spin‐offs (USOs) have attracted significant attention from scholars and policymakers as an important mechanism for science‐based innovation. The debate on how USOs generate innovation outcomes has often focused on tangible assets, while the role of intangible assets has been less explored and remains loosely defined. Yet emerging research suggests that intangible assets, especially in the early stages of a USO's lifecycle, have a critical influence on its survival and future success, highlighting a need for a better understanding of how intangible assets enable science‐based innovation through USOs. Drawing from several streams of literature, we define intangible assets in the context of science‐based innovation through USOs: an intangible asset is a resource that is non‐physical, non‐financial, has long life, and has potential to provide future benefits to the owner. Based on this working definition, we conduct a systematic literature review of the leading innovation management journals and inductively derive a framework outlining the antecedents, processes, and outcomes of science‐based innovation through USOs, focusing on the influence of intangible assets. The framework identifies the categories of resources which can enhance or hinder science‐based innovation through USOs. Such categorization reveals fruitful directions for future research such as a deeper examination of societal outcomes. We conclude by offering recommendations for scholars, practitioners, and policymakers to better leverage intangible assets to enhance science‐based innovation.

United we stand? Organizational groups and spinoff mortality in the context of academic entrepreneurship

We study failures between 1993 and 2017 in the complete population of 1731 English and Scottish university spinoffs founded since 1977. We borrow and expand the concept of density dependence from organizational ecology to theorize that a spinoff's propensity to fail is affected by the number of spinoffs active not only in the aggregate population but also within its parent university's portfolio. We contribute to organizational theory, demonstrating the importance of organizational groups that form within larger populations on individual organizations' propensity to fail. We contribute to literature on academic entrepreneurship showing that, for most universities, spinoff portfolio growth can lower associated spinoffs' failure rates, but that such effects need to be juxtaposed to the aggregate population's finite capacity to support an expanding number of spinoffs.

Examining the impact of university-industry collaborations on spin-off creation: Evidence from joint patents

The literature on entrepreneurship and technology transfer highlights several factors that impact the creation of university Spin-Offs. However, there is a limited body of research that specifically explores the impact of university-industry collaborations on the performance creation of these spinoffs. This study aims to fill this gap by examining the effects of university-industry collaborations on the creation of Spin-Offs from two perspectives: the number of university collaborations with different companies and the number of previous collaborations between the same university-industry dyad. The research employs joint patents as a source to measure the university-industry collaborations and statistical methods to empirically examine the impact of these collaborations on Spin-Off creation. The study is based on data from 108 universities between the years 2014 and 2017. The findings of this study reveal that both the number of collaborations and specially the presence of previous collaborations between the university and industry have a positive effect on the creation of Spin-Offs. These results suggest that universities and companies should consider these findings when formulating their strategies or policies for technology transfer and innovation management by encouraging university-industry collaborations.

The effect of property rights and staff structure on the labor productivity, evidence of university spin-offs in Hubei Province, China

The effect of property rights and staff structure on the labor productivity, evidence of university spin-offs in Hubei Province, China

Equity crowdfunding for university spin-offs: Unveiling the motivations, benefits, and risks related to its adoption

ABSTRACT Equity crowdfunding (ECF) has spread rapidly worldwide, however its use by university spin-offs (USOs) along with scholarly attention to it, is still extremely limited. In this qualitative study, we examine the views of founders of the few USOs that have used ECF in the Italian market and unveil their motivation for bypassing traditional funding models and the related benefits and risks. USOs have mixed motivations in pursuing ECF (testing the market, involving new people, overcoming limited public/private supports or funds, attractiveness to traditional investors, risky forecasts); at the same time there are significant benefits (crowd participation, strategic resources, legitimacy for the valorization/exploitation of research results and knowledge transfer mechanisms) and underlying risks (management of investors and their lack of scientific culture, data use, bureaucracy, uncertainty related to outputs/technologies). This study contributes to the literature on crowdfunding and USOs and has implications for the strategic decisions of founders, universities, policymakers, governments.