Entrepreneurial Universities and Technology Transfer : A Conceptual Framework for Understanding Knowledge-Based Economic Development

The legal, economic, and policy environmentsthat comprise the system of innovation affect university knowledge productionand, consequently, the rate of technological change. These influences onknowledge transfer are identified and discussed. To understand the role of universities in creating and deploying newknowledge, a framework that incorporates economic, social, and politicalinfluences is developed. The framework examines university technology transferand the motivations and incentives offered to the various participants. There are four elements of the framework: (1) the university environmentcontains formal rules (incentives and rewards) and informal rules (standardoperating procedures, customs, and norms); (2) transactions consist ofsponsored research, licenses, spin-off firms, student hires, and serendipity,(3) firm characteristics encompass industry characteristics, firm objectives,firm size capabilities, and geographic location; and (4) the individualresearcher. There are additional dynamics and relationships in the framework: policy,environment, and legal framework; exogenous shift parameters; behavioralattributes (loyalty, opportunism); and strategic response and learning.Finally, the public policy context for innovation isdiscussed.(TNM)