Background: Transfer of knowledge from academia to business is one of the crucial issues for creating innovation. Creation of university spin-offs could significantly improve this transfer. Objectives: The main scientific aim is to examine the differences between universities in European countries and identify factors affecting the probability of creating the university spin-off. The paper is also focused on the differences in the specialization and financial sources of universities. Methods/Approach: We compare selected indicators for higher education institutions in European countries and examine potential determinants affecting the probability of academic spin-off formation. With respect to the main aim, the logit and probit regression analyses have been used. Results: Our results show that the creation of spin-offs is typical on the one hand for highly specialized universities or on the other hand for universities with a wide variety of study programs. They should also have an optimum number of doctoral students and have mostly less funding from tuition fees. Conclusions: Several indicators appear to play an important role in the formation of university spin-off. These indicators are the level of specialization, the share of tuition fees in the University budget, and the share of Ph.D. and foreign students.
If the inline PDF is not rendering correctly, you can download the PDF file here.
1. Aldridge T. T. Audretsch D. (2011) “The Bayh-Dole act and scientist entrepreneurship” Research policy Vol. 40 No. 8 pp.1058-1067.
2. Bercovitz J. Feldman M. (2008) “Academic entrepreneurs: Organizational change at the individual level” Organization Science Vol. 19 No. 1 pp. 69-89.
3. Bigliardi B. Galati F. Verbano C. (2013) “Evaluating performance of university spin-off companies: Lessons from Italy” Journal of technology management & innovation Vol. 8 No. 2 pp. 178-188.
4. Chesbrough H. W. (2006) Open innovation: The new imperative for creating and profiting from technology Boston: Harvard Business Press.
5. Cusmano L. Morrison A. Pandolfo E. (2014) “Spin-off and clustering: a return to the Marshallian district” Cambridge Journal of Economics Vol. 39 No. 1 pp. 49-66.
6. Di Gregorio D. Shane S. (2003) “Why do some universities generate more start-ups than others?” Research policy Vol. 32 No. 2 pp. 209-227.
7. Dunning J. H. (2002) Regions Globalization and the Knowledge Economy London: Oxford University Press.
8. Edquist C. (2004) “Systems of Innovation: Perspectives and Challenges” in Fagerberg J. Mowery D. Nelson R. (Eds.) The Oxford Handbook of Innovation Norfolk: Oxford University Press.
9. Epure M. Prior D. Serarols C. (2016) “Assessing technology-based spin-offs from university support units” Regional Studies Vol. 50 No. 3 pp. 411-428.
10. Etzkowitz H. Leydesdorff L. (2000) “The dynamics of innovation: from National Systems and “Mode 2” to a Triple Helix of university–industry–government relations” Research policy Vol. 29 No. 2 pp. 109-123.
11. European Tertiary Education Register (2017) ETER database available at: https://www.eter-project.com/ (20 February 2018).
12. Freeman C. (1987) “Technology policy and economic performance: Lessons from Japan” Research Policy Vol.17 No. 5 pp. 309-310.
13. Hudec O. Urbančíková N. Džupka P. Šebová M. Klimovský D. Suhányi L. Želinský T. (2009) Podoby regionálneho a miestneho rozvoja Košice: Ekonomická fakulta TU.
14. Hunady J. Orviska M. Pisar P. (2018) “University Characteristics as Factor Affecting the Creation of University Spin-Offs” in Proceedings of the ENTRENOVA-ENTerprise REsearch InNOVAtion Conference Split Croatia Zagreb: IRENET-Society for Advancing Innovation and Research in Economy. pp. 476-484.
15. Mustar P. Wright M. (2010) “Convergence or path dependency in policies to foster the creation of university spin-off firms? A comparison of France and the United Kingdom” The Journal of Technology Transfer Vol. 35 No. 1 pp. 42-65.
16. Pattnaik P. N. Pandey S. C. (2014) “University Spinoffs: What Why and How?” Technology Innovation Management Review Vol. 4 No. 12 pp. 44-50.
17. Rasmussen E. Borch O. J. (2010) “University capabilities in facilitating entrepreneurship: A longitudinal study of spin-off ventures at mid-range universities” Research Policy Vol. 39 No. 5 pp. 602-612.
18. Rasmussen E. Wright M. (2015) “How can universities facilitate academic spin-offs? An entrepreneurial competency perspective” The Journal of Technology Transfer Vol. 40 No. 5 pp. 782-799.
19. Rehak S. Dzupka P Sekelsky L. Sebova M. (2015) Lokálne ekonomické vplyvy univerzít Bratislava: Vydavateľstvo EKONÓM.
20. Salvador E. (2011) “How effective are research spin-off firms in Italy?” Revue d’économie industrielle No.133 pp. 99-122.
21. Sterlacchini A. (2008) “R&D higher education and regional growth: Uneven linkages among European regions” Research Policy Vol. 37 No. 6 pp. 1096-1107.
22. Strauf S. Scherer R. (2008) “Universities and their contribution to regional development” Transformations in Business & Economics Vol. 7 No. 1 pp. 137-151.
23. Van Burg E. Romme A. G. L. Gilsing V. A. Reymen I. M. (2008) “Creating university spin-offs: a science-based design perspective” Journal of Product Innovation Management Vol. 25 No. 2 114-128.
24. Vohora A. Wright M. Lockett A. (2004) “Critical junctures in the development of university high-tech spinout companies” Research policy Vol. 33 No. 1 pp. 147-175.
25. Wright M. Clarysse B. Mustar P. Lockett A. (2007) Academic Entrepreneurship in Europe Cheltenham: Edward Elgar.