Emergent economies suffer from underdeveloped market infrastructures and insufficient public institutions to enforce contract commitments and property rights. Informal reputation-based arrangements may substitute for government enforcement but they require close-knit networks that enable...

As hotbeds for techno­logical innovation, university research labs create groundbreaking innovations that have been at the heart of many successful entrepreneurial ventures. But powerful ideas do not neces­sarily beget successful companies; great ideas must be identified, acquired, and...

The recent 'scientification' of commercial technology has brought the interface between universities and industry into sharp focus. In particular, academic entrepreneurship, i.e., the variety of ways in which academics take direct part in the commercialization of research, is widely discussed....

In this paper I analyze the correlation between the licensing activity by start-ups and established firms (mainly in the biotech sector) and the inventions’ stages of development. Using data from the San Diego region on licensing new technologies and a new variable to characterize the...

60 university spinouts in 3 years. 94% still alive. Lowest cost per spinout in the US. The 'book' on successful technology transfer is to find multiple ways to substitute bottom-up entrepreneurial approaches for top-down bureaucratic mechanisms. However, few programs successfully manage the...

We develop a model based on asymmetric information (adverse selection) that provides a rational explanation for the persistent use of royalties alongside equity in university technology transfer. The model shows how royalties, through their value-destroying distortions, can act as a screening...

Technical and industrial competences are increasingly dispersed across the globe, urging young high-technology firms in Europe to increase distances in their knowledge relations. However, establishment and maintenance of such relationships tend to be hampered by many barriers following from...

We empirically analyze whether support by the parent organization in the early (nascent and seed) stage speeds up the process of commercialization and helps spin-offs from public research organizations generate first revenues sooner. To identify the impact of support by the parent organization,...

The innovation process is becoming more open. According to the concept of the Triple Helix, this requires the creation of institutions capable of mediating the interaction of agents, primarily related to the different elements of the innovation system. The academic spin-off is not only a form of...