Academic spin-offs incubation strategies: the case of the Andalusian region
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Published
18-09-2018
F. Rafael Cáceres Carrasco
María Teresa Aceytuno
Abstract
The objective of this paper is to analyze the incubation strategies developed in the universities of Andalusia, a relatively low-income region of Spain, to promote the creation of university spin-offs. These strategies are also compared to the incubation models noted in the literature. The performance of the university spin-offs created and its relation to the incubation strategies developed by the university are also analysed. The analysis is based on data from a survey of nine public universities that carry out strategies for the promotion of university spin-offs. The result of the analysis shows that university spin-off incubation strategies in Andalusia present specific characteristics not covered by certain models that are well-known in the literature on innovation. Then, a new stage in the process of the university spin-off incubation is proposed. We consider it to be a pre-strategic stage to the academic spin-off incubation strategies. The analysis also finds certain environmental factors associated to those spin-offs promoted by Andalusian universities that achieve the highest level of performance. This result suggests that previous to making any decision involving investment into developing incubation strategies, universities should gauge whether they have sufficient resources and the possibilities of connecting with a Technology Park.
How to Cite
Cáceres Carrasco, F. R., & Aceytuno, M. T. (2018). Academic spin-offs incubation strategies: the case of the Andalusian region. Cuadernos De Gestión, 15(2), 113–142. https://doi.org/10.5295/cdg.140479ma
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Keywords
University spin-off, incubation strategy, university, firm, technology transfer, university-industry relations
References
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Bergek A. and Norrman C., 2008. Incubator Best Practice: A Framework. Technovation, 28, 20-28.
Blumenthal D., Campbell E.G., Causino N. and Louis K., 1996. Participation of Life Science Faculty in Research Relationships with Industry. The New England Journal of Medicine, 335(23), 1734-1740.
Bozeman, B., 2000. Technology Transfer and Public Policy: A Review of Research and Theory. Research Policy, 29, 627-655.
Carayannis E.G., Rogers E.M., Kurihara K. and Allbritton M.M., 1998. High Technology Spin-offs from Government R&D Laboratories and Research Universities. Technovation, 18 (1), 1-11.
Clarysse B., Wright M., Lockett A., Van de Velde E. and Vohora A., 2005. Spinning-out New Ventures: A Typology of Incubation Strategies from European Research Institutions. Journal of Business Venturing, 20, 183-216.
Colombo M.G., D’Adda D. and Piva E., 2010. The Contribution of University Research to the Growth of Academic Start-ups: An Empirical Analysis. Journal of Technology Transfer, 35, 113-140.
Colyvas J., Crow M., Gelijns A., Mazzoleni R., Nelson R.R., Rosenberg N. and Sampat B.N., 2002. How Do University Inventions Get into Practice? Management Science, 48 (1), 61-72.
Dasgupta P. and David P.A., 1994. Toward a New Economic of Science. Research Policy, 23, 487-521.
Davenport S., Carr A. and Bibby D., 2002. Leveraging Talent: Spin-off Strategy at Industrial Research. R&D Management, 32(3), 241-254.
Debackere, K., 2000. Managing Academic R&D Business at K.U. Leuven: Context, Structure and Process. R&D Management, 30(4), 323-328.
Degroof J.-J. and Roberts E.B., 2004. Overcoming Weak Entrepreneurial Infrastructure for Academic Spin-off Ventures. Journal of Technology Transfer, 29, 327-352.
Di Gregorio D. and Shane S., 2003. Why do Some Universities Generate More Start-ups than Others? Research Policy, 32, 209-227.
Djokovic D. and Souitaris V., 2008. Spinouts from Academic Institutions: A Literature Review with Suggestions for Further Research. Journal of Technology Transfer, 33(3), 225-247.
Etzkowitz, H., 1998. The Norms of Entrepreneurial Science: Cognitive Effects of the New University-Industry Linkages. Research Policy, 27, 823-833.
Etzkowitz H., Webster A., Gebhardt C., Cantisano T. and Branca R., 2000. The Future of the University and the University of the Future: Evolution of the Ivory Tower to Entrepreneurial Paradigm. Research Policy, 29, 313-330.
Fabrizio, K.R., 2007. University Patenting and the Pace of Industrial Innovation. Industrial and Corporate Change, 16(4), 505-534.
Feldman M.P. and Francis J.L., 2003. Fortune Favours the Prepared region: The Case of Entrepreneurship and the Capitol Region Biotechnology Cluster. European Planning Studies, 11(7), 765-788.
Feldman M.P., Feller I., Bercowitz J. and Burton R., 2002. Equity and the Technology Transfer Strategies of American Research Universities. Management Science, 48(1), 90-104.
Fini R., Grimaldi R. and Sobrero M., 2009. Factors Fostering Academics to Start up New Ventures: An Assessment of Italian Founders’ incentives. Journal of Technology Transfer, 34(4), 380-402.
Florida R.R. and Kenney M., 1988. Venture Capital-Financed Innovation and Technological Change in the USA. Research Policy, 17, 119-137.
Gilsing V.A., Burg E. and van Romme A.G.L., 2010. Policy Principles for the Creation and Success of Corporate and University spin-offs. Technovation, 30(1), 12-23.
Goldfard B. and Henrekson M., 2003. Bottom-up versus Top-down Policies towards the Commercialization of University Intellectual Property. Research Policy, 32, 639-658.
Hébert R.F. and Link A.N., 1989. In search of the meaning of entrepreneurship, Small Business Economics, 1, 39-49.
Henderson R., Jaffe A.B. and Trajtenberg M., 1998. Universities as a Source of Commercial Technology: A Detailed Analysis of University Patenting, 1965-1988. The Review of Economics and Statistics, 80(1), 119-127.
Henrekson B. and Rosenberg N., 2000. Incentives for Academic Entrepreneurship and Economic Performance: Sweden and the United States. The Journal of Technology Transfer, 26(3), 207-231.
Jain S. and George G., 2007. Technology Transfer Offices as Institutional Entrepreneurs: The Case of Wisconsin Alumni Research Foundation and Human Embrionic Stem Cells. Industrial and Corporate Change, 16(4), 535-567.
Jong, S., 2006. How Organizational Structures in Science Shape Spin-off Firms: The Biochemistry Departments of Berkeley, Stanford, and UCSF and the Birth of the Biotech Industry. Industrial and Corporate Change, 15(2), 251-283.
Kenney M. and Goe W. R., 2004. The Role of Social Embeddedness in Professorial Entrepreneurship: A Comparison of Electrical Engineering and Computer Science at UC Berkeley and Stanford. Research Policy, 33(5), 691-707.
Kinsella R. and McBrierty V., 1997. Campus Companies and the Emerging TechnoAcademic Paradigm: The Irish Experience. Technovation, 17(5), 245-251.
Kirby, D.A., 2006. Creating Entrepreneurial Universities in the UK: Applying Entrepreneurship Theory to Practice. Journal of Technology Transfer, 31, 599-603.
Leitch C.M. and Harrison R.T., 2005. Maximising the Potential of University Spin-outs: The Development of Second-order Commercialisation Activities. R&D Management, 35(3), 257-272.
Link A.N. and Scott J.T., 2005. Opening the Ivory’s Tower Door: An Analysis of the Determinants of the Formation of US University Spin-off Companies. Research Policy, 34, 1106-1112.
Lockett A. and Wright M., 2005. Resources, Capabilities, Risk Capital and the Creation of University Spin-out Companies. Research Policy, 34, 1043-1057.
Lockett A., Siegel D., Wright M. and Ensley M.D., 2005. The Creation of Spin-off Firms at Public Research Institutions: Managerial and Policy Implications. Research Policy, 34, 981-993.
Markman G.D., Phan P.H., Balkin D.D. and Gianiodis P.T., 2005. Entrepreneurship and University-Based Technology Transfer. Journal of Business Venturing, 20, 241-263.
Markman G.D., Gianiodis P.T. and Phan P.H., 2008. Full-Time Faculty or Part-Time Entrepreneurs. IEE Transactions on Engineering Management, 55(1), 29-36.
Martinelli A., Meyer M. and Von Tunzelman N., 2008. Becoming an Entrepreneurial University? A Case Study of Knowledge Exchange Relationships and Faculty Attitudes in a Medium-sized, Research-oriented University. Journal of Technology Transfer, 33(3), 259-283.
Meyer, M., 2003. Academic Entrepreneurs or Entrepreneurial Academics? Research-based Ventures and Public Support Mechanisms. R&D Management, 33(2), 107-115.
Mowery D.C. and Sampat B.N., 2005. The Bayh-Dole Act of 1980 and University-Industry Technology Transfer: A Model for other OECD Governments? Journal of Technology Transfer, 30 (1/2), 115-127.
Mustar P. and Wright M., 2010. Convergence or Path Dependency in Policies to Foster the Creation of University Spin-offs Firms? A Comparison of France and the United Kingdom. Journal of Technology Transfer, 35(3), 42-65.
Mustar P., Renault M., Colombo M.G., Piva E., Fontes M., Lockett A., Wright M., Clarysse, B. and Moray N., 2006. Conceptualising the Heterogeneity of Research-based Spinoffs: A Multi-dimensional Taxonomy. Research Policy, 35, 289-308.
Nelson, R.R., 2001. Observations on the Post-Bayh-Dole Rise of Patenting at American Universities. Journal of Technology Transfer, 26, 13-19.
Nicolau N. and Birley S., 2003. Academia Networks in a Trichotomous Categorisation of University Spinouts. Journal of Business Venturing, 18, 333-359.
Nlemvo Ndonzuau F., Pirnay F. and Surlemont B., 2002. A Stage Model of Academic Spinoff Creation. Technovation, 22, 281-289.
O’Gorman C., Byrne O. and Pandya D., 2008. How Scientists Commercialise New Knowledge via Entrepreneurship? Journal of Technology Transfer, 33(1) 22-34.
O’Shea R.P., Allen T.J., Morse K.P., O’Gorman C. and Roche F., 2007. Delineating the Anatomy of an Entrepreneurial University: The Massachusetts Institute of Technology Experience. R&D Management, 37(1), 1-16.
O’Shea R.P., Chugh H. and Allen T.J., 2008. Determinants and Consequences of University Spinoff Activity: A Conceptual Framework. Journal of Technology Transfer, 33, 653-666.
O’Shea R., Allen T.J., Chevalier A. and Roche F., 2005. Entrepreneurial Orientation, Technology Transfer and Spinoff Performance of US Universities. Research Policy, 34, 994-1009.
Parker D.D. and Zilberman D., 1993. University Technology Transfer: Impacts on Local and US Economies. Contemporary Policy Issues, 11(2), 87-100.
Phan P.H. and Siegel D.S., 2006. The Effectiveness of University Technology Transfer. Series on Foundations and Trends in Entrepreneurship. Boston: Now Publishers.
Pirnay F., Surlemont B. and Nlemvo F., 2003. Toward a Typology of University Spin-offs. Small Business Economics, 21, 355-369.
Powers D.B. and McDougall P.P., 2005. University Start-up Formation and Technology Licensing with Firms that Go Public: A Resource-based view of Academic Entrepreneurship. Journal of Business Venturing, 20, 291-311.
RedOTRI, 2007. Informe RedOTRI 2007. Madrid: RedOTRI-CRUE.
Roberts, E.B., 1991. Entrepreneurs in High Technology. Lessons from MIT and Beyond. New York and Oxford: Oxford University Press.
Roberts E.B. and Malonet D.E., 1996. Policies and structures for spinning off new companies from research and development organizations. R&D Management, 26(1), 17-48.
Rogers E.M., Takegami S. and Yin J., 2001. Lessons Learned About Technology Transfer. Technovation, 21(4), 253-261.
Rothaermel F.T. and Thursby M., 2005. Incubator Firm Failure or Graduation? The Role of University Linkages. Research Policy, 34, 1076-1090.
Rothaermel F.T., Agung S.D. and Jiang L., 2007. University Entrepreneurship: A Taxonomy of the Literature. Industrial and Corporate Change, 16(4), 691-791.
Sampat, B.N., 2006. Patenting and US Academic Research in the 20th Century: The World before and after Bayh-Dole. Research Policy, 35, 772-789.
Saxenian, A., 1994. Regional Advantage: Culture and Competition in Silicon Valley and Route 128. Cambridge (Mass.) and London: Harvard University Press.
Shane, S., 2004. Encouraging University Entrepreneurship? The Effect of the Bayh-Dole Act on University Patenting in the United States. Journal of Business Venturing, 19, 127-151.
Phan P. and Siegel D.S., 2006. The Effectiveness of University Technology Transfer. Foundations and Trends in Entrepreneurship, 2(2). Boston and Delft: Now Publishers.
Siegel D.S., Waldman D.A., Atwater L.E. and Link A.N., 2003. Commercial Knowledge Transfers from Universities to Firms: Improving the Effectiveness of UniversityIndustry Collaboration. Journal of Technology Management Research, 14, 111-133.
Smilor R.W., Gibson D.V. and Dietrich G.B., 1990. University Spin-out Companies: Technology Start-ups from UT-Austin. Journal of Business Venturing, 5, 63-76.
Sorenson O. and Stuart T.E., 2001. Syndication Network and the Spatial Distribution of Venture Capital Investments. American Journal of Sociology, 106(6), 1546-1588.
Steffensen M., Rogers E.M. and Speakman K., 2000. Executive Forum: Spin-offs from Research Centers at a Research University. Journal of Business Venturing, 15, 93-111.
Stuart T.E. and Ding W.W., 2006. When Do Scientists Become Entrepreneurs? The Social Structural Antecedents of Commercial Activity in the Academic Life Sciences. American Journal of Sociology, 112(1), 97-144.
Thursby J.G. and Thursby M.C., 2011. Has the Bayh-Dole Act Compromised Basic Research? Research Policy 40, 1077-1083.
Van Looy B., Landoni P., Callaert J., Van Pottelsberghe B., Sapsalis E. and Debackere K., 2011. Entrepreneurial Effectiveness of European Universities: An Empirical Assessment of Antecedents and Trade-offs. Forthcoming: Research Policy.
Vohora A., Wright M. and Lockett A., 2004. Critical Junctures in the Development of University High-tech Spinout Companies. Research Policy, 33, 147-175.
Wennekers S. and Thurik R., 1999. Linking entrepreneurship and economic growth. Working Paper, Erasmus University, Rotterdam, The Netherlands.
Wright M., Lockett A., Clarysse B. and Binks M., 2006. University Spin-out Companies and Venture Capital. Research Policy, 35, 481-501.
Zucker L.G., Darby M.R. and Brewer M.B., 1998. Intellectual Human Capital and the Birth of US Biotechnology Enterprises. The American Economic Review, 88, 290-306.
Beraza J.A. and Rodríguez A., 2012. Tipologías de programas de apoyo a la creación de spin-offs en las universidades: Reino Unido y España. TELOS Revista de Estudios Interdisciplinarios en Ciencias Sociales, 14(1), 31-55.
Bergek A. and Norrman C., 2008. Incubator Best Practice: A Framework. Technovation, 28, 20-28.
Blumenthal D., Campbell E.G., Causino N. and Louis K., 1996. Participation of Life Science Faculty in Research Relationships with Industry. The New England Journal of Medicine, 335(23), 1734-1740.
Bozeman, B., 2000. Technology Transfer and Public Policy: A Review of Research and Theory. Research Policy, 29, 627-655.
Carayannis E.G., Rogers E.M., Kurihara K. and Allbritton M.M., 1998. High Technology Spin-offs from Government R&D Laboratories and Research Universities. Technovation, 18 (1), 1-11.
Clarysse B., Wright M., Lockett A., Van de Velde E. and Vohora A., 2005. Spinning-out New Ventures: A Typology of Incubation Strategies from European Research Institutions. Journal of Business Venturing, 20, 183-216.
Colombo M.G., D’Adda D. and Piva E., 2010. The Contribution of University Research to the Growth of Academic Start-ups: An Empirical Analysis. Journal of Technology Transfer, 35, 113-140.
Colyvas J., Crow M., Gelijns A., Mazzoleni R., Nelson R.R., Rosenberg N. and Sampat B.N., 2002. How Do University Inventions Get into Practice? Management Science, 48 (1), 61-72.
Dasgupta P. and David P.A., 1994. Toward a New Economic of Science. Research Policy, 23, 487-521.
Davenport S., Carr A. and Bibby D., 2002. Leveraging Talent: Spin-off Strategy at Industrial Research. R&D Management, 32(3), 241-254.
Debackere, K., 2000. Managing Academic R&D Business at K.U. Leuven: Context, Structure and Process. R&D Management, 30(4), 323-328.
Degroof J.-J. and Roberts E.B., 2004. Overcoming Weak Entrepreneurial Infrastructure for Academic Spin-off Ventures. Journal of Technology Transfer, 29, 327-352.
Di Gregorio D. and Shane S., 2003. Why do Some Universities Generate More Start-ups than Others? Research Policy, 32, 209-227.
Djokovic D. and Souitaris V., 2008. Spinouts from Academic Institutions: A Literature Review with Suggestions for Further Research. Journal of Technology Transfer, 33(3), 225-247.
Etzkowitz, H., 1998. The Norms of Entrepreneurial Science: Cognitive Effects of the New University-Industry Linkages. Research Policy, 27, 823-833.
Etzkowitz H., Webster A., Gebhardt C., Cantisano T. and Branca R., 2000. The Future of the University and the University of the Future: Evolution of the Ivory Tower to Entrepreneurial Paradigm. Research Policy, 29, 313-330.
Fabrizio, K.R., 2007. University Patenting and the Pace of Industrial Innovation. Industrial and Corporate Change, 16(4), 505-534.
Feldman M.P. and Francis J.L., 2003. Fortune Favours the Prepared region: The Case of Entrepreneurship and the Capitol Region Biotechnology Cluster. European Planning Studies, 11(7), 765-788.
Feldman M.P., Feller I., Bercowitz J. and Burton R., 2002. Equity and the Technology Transfer Strategies of American Research Universities. Management Science, 48(1), 90-104.
Fini R., Grimaldi R. and Sobrero M., 2009. Factors Fostering Academics to Start up New Ventures: An Assessment of Italian Founders’ incentives. Journal of Technology Transfer, 34(4), 380-402.
Florida R.R. and Kenney M., 1988. Venture Capital-Financed Innovation and Technological Change in the USA. Research Policy, 17, 119-137.
Gilsing V.A., Burg E. and van Romme A.G.L., 2010. Policy Principles for the Creation and Success of Corporate and University spin-offs. Technovation, 30(1), 12-23.
Goldfard B. and Henrekson M., 2003. Bottom-up versus Top-down Policies towards the Commercialization of University Intellectual Property. Research Policy, 32, 639-658.
Hébert R.F. and Link A.N., 1989. In search of the meaning of entrepreneurship, Small Business Economics, 1, 39-49.
Henderson R., Jaffe A.B. and Trajtenberg M., 1998. Universities as a Source of Commercial Technology: A Detailed Analysis of University Patenting, 1965-1988. The Review of Economics and Statistics, 80(1), 119-127.
Henrekson B. and Rosenberg N., 2000. Incentives for Academic Entrepreneurship and Economic Performance: Sweden and the United States. The Journal of Technology Transfer, 26(3), 207-231.
Jain S. and George G., 2007. Technology Transfer Offices as Institutional Entrepreneurs: The Case of Wisconsin Alumni Research Foundation and Human Embrionic Stem Cells. Industrial and Corporate Change, 16(4), 535-567.
Jong, S., 2006. How Organizational Structures in Science Shape Spin-off Firms: The Biochemistry Departments of Berkeley, Stanford, and UCSF and the Birth of the Biotech Industry. Industrial and Corporate Change, 15(2), 251-283.
Kenney M. and Goe W. R., 2004. The Role of Social Embeddedness in Professorial Entrepreneurship: A Comparison of Electrical Engineering and Computer Science at UC Berkeley and Stanford. Research Policy, 33(5), 691-707.
Kinsella R. and McBrierty V., 1997. Campus Companies and the Emerging TechnoAcademic Paradigm: The Irish Experience. Technovation, 17(5), 245-251.
Kirby, D.A., 2006. Creating Entrepreneurial Universities in the UK: Applying Entrepreneurship Theory to Practice. Journal of Technology Transfer, 31, 599-603.
Leitch C.M. and Harrison R.T., 2005. Maximising the Potential of University Spin-outs: The Development of Second-order Commercialisation Activities. R&D Management, 35(3), 257-272.
Link A.N. and Scott J.T., 2005. Opening the Ivory’s Tower Door: An Analysis of the Determinants of the Formation of US University Spin-off Companies. Research Policy, 34, 1106-1112.
Lockett A. and Wright M., 2005. Resources, Capabilities, Risk Capital and the Creation of University Spin-out Companies. Research Policy, 34, 1043-1057.
Lockett A., Siegel D., Wright M. and Ensley M.D., 2005. The Creation of Spin-off Firms at Public Research Institutions: Managerial and Policy Implications. Research Policy, 34, 981-993.
Markman G.D., Phan P.H., Balkin D.D. and Gianiodis P.T., 2005. Entrepreneurship and University-Based Technology Transfer. Journal of Business Venturing, 20, 241-263.
Markman G.D., Gianiodis P.T. and Phan P.H., 2008. Full-Time Faculty or Part-Time Entrepreneurs. IEE Transactions on Engineering Management, 55(1), 29-36.
Martinelli A., Meyer M. and Von Tunzelman N., 2008. Becoming an Entrepreneurial University? A Case Study of Knowledge Exchange Relationships and Faculty Attitudes in a Medium-sized, Research-oriented University. Journal of Technology Transfer, 33(3), 259-283.
Meyer, M., 2003. Academic Entrepreneurs or Entrepreneurial Academics? Research-based Ventures and Public Support Mechanisms. R&D Management, 33(2), 107-115.
Mowery D.C. and Sampat B.N., 2005. The Bayh-Dole Act of 1980 and University-Industry Technology Transfer: A Model for other OECD Governments? Journal of Technology Transfer, 30 (1/2), 115-127.
Mustar P. and Wright M., 2010. Convergence or Path Dependency in Policies to Foster the Creation of University Spin-offs Firms? A Comparison of France and the United Kingdom. Journal of Technology Transfer, 35(3), 42-65.
Mustar P., Renault M., Colombo M.G., Piva E., Fontes M., Lockett A., Wright M., Clarysse, B. and Moray N., 2006. Conceptualising the Heterogeneity of Research-based Spinoffs: A Multi-dimensional Taxonomy. Research Policy, 35, 289-308.
Nelson, R.R., 2001. Observations on the Post-Bayh-Dole Rise of Patenting at American Universities. Journal of Technology Transfer, 26, 13-19.
Nicolau N. and Birley S., 2003. Academia Networks in a Trichotomous Categorisation of University Spinouts. Journal of Business Venturing, 18, 333-359.
Nlemvo Ndonzuau F., Pirnay F. and Surlemont B., 2002. A Stage Model of Academic Spinoff Creation. Technovation, 22, 281-289.
O’Gorman C., Byrne O. and Pandya D., 2008. How Scientists Commercialise New Knowledge via Entrepreneurship? Journal of Technology Transfer, 33(1) 22-34.
O’Shea R.P., Allen T.J., Morse K.P., O’Gorman C. and Roche F., 2007. Delineating the Anatomy of an Entrepreneurial University: The Massachusetts Institute of Technology Experience. R&D Management, 37(1), 1-16.
O’Shea R.P., Chugh H. and Allen T.J., 2008. Determinants and Consequences of University Spinoff Activity: A Conceptual Framework. Journal of Technology Transfer, 33, 653-666.
O’Shea R., Allen T.J., Chevalier A. and Roche F., 2005. Entrepreneurial Orientation, Technology Transfer and Spinoff Performance of US Universities. Research Policy, 34, 994-1009.
Parker D.D. and Zilberman D., 1993. University Technology Transfer: Impacts on Local and US Economies. Contemporary Policy Issues, 11(2), 87-100.
Phan P.H. and Siegel D.S., 2006. The Effectiveness of University Technology Transfer. Series on Foundations and Trends in Entrepreneurship. Boston: Now Publishers.
Pirnay F., Surlemont B. and Nlemvo F., 2003. Toward a Typology of University Spin-offs. Small Business Economics, 21, 355-369.
Powers D.B. and McDougall P.P., 2005. University Start-up Formation and Technology Licensing with Firms that Go Public: A Resource-based view of Academic Entrepreneurship. Journal of Business Venturing, 20, 291-311.
RedOTRI, 2007. Informe RedOTRI 2007. Madrid: RedOTRI-CRUE.
Roberts, E.B., 1991. Entrepreneurs in High Technology. Lessons from MIT and Beyond. New York and Oxford: Oxford University Press.
Roberts E.B. and Malonet D.E., 1996. Policies and structures for spinning off new companies from research and development organizations. R&D Management, 26(1), 17-48.
Rogers E.M., Takegami S. and Yin J., 2001. Lessons Learned About Technology Transfer. Technovation, 21(4), 253-261.
Rothaermel F.T. and Thursby M., 2005. Incubator Firm Failure or Graduation? The Role of University Linkages. Research Policy, 34, 1076-1090.
Rothaermel F.T., Agung S.D. and Jiang L., 2007. University Entrepreneurship: A Taxonomy of the Literature. Industrial and Corporate Change, 16(4), 691-791.
Sampat, B.N., 2006. Patenting and US Academic Research in the 20th Century: The World before and after Bayh-Dole. Research Policy, 35, 772-789.
Saxenian, A., 1994. Regional Advantage: Culture and Competition in Silicon Valley and Route 128. Cambridge (Mass.) and London: Harvard University Press.
Shane, S., 2004. Encouraging University Entrepreneurship? The Effect of the Bayh-Dole Act on University Patenting in the United States. Journal of Business Venturing, 19, 127-151.
Phan P. and Siegel D.S., 2006. The Effectiveness of University Technology Transfer. Foundations and Trends in Entrepreneurship, 2(2). Boston and Delft: Now Publishers.
Siegel D.S., Waldman D.A., Atwater L.E. and Link A.N., 2003. Commercial Knowledge Transfers from Universities to Firms: Improving the Effectiveness of UniversityIndustry Collaboration. Journal of Technology Management Research, 14, 111-133.
Smilor R.W., Gibson D.V. and Dietrich G.B., 1990. University Spin-out Companies: Technology Start-ups from UT-Austin. Journal of Business Venturing, 5, 63-76.
Sorenson O. and Stuart T.E., 2001. Syndication Network and the Spatial Distribution of Venture Capital Investments. American Journal of Sociology, 106(6), 1546-1588.
Steffensen M., Rogers E.M. and Speakman K., 2000. Executive Forum: Spin-offs from Research Centers at a Research University. Journal of Business Venturing, 15, 93-111.
Stuart T.E. and Ding W.W., 2006. When Do Scientists Become Entrepreneurs? The Social Structural Antecedents of Commercial Activity in the Academic Life Sciences. American Journal of Sociology, 112(1), 97-144.
Thursby J.G. and Thursby M.C., 2011. Has the Bayh-Dole Act Compromised Basic Research? Research Policy 40, 1077-1083.
Van Looy B., Landoni P., Callaert J., Van Pottelsberghe B., Sapsalis E. and Debackere K., 2011. Entrepreneurial Effectiveness of European Universities: An Empirical Assessment of Antecedents and Trade-offs. Forthcoming: Research Policy.
Vohora A., Wright M. and Lockett A., 2004. Critical Junctures in the Development of University High-tech Spinout Companies. Research Policy, 33, 147-175.
Wennekers S. and Thurik R., 1999. Linking entrepreneurship and economic growth. Working Paper, Erasmus University, Rotterdam, The Netherlands.
Wright M., Lockett A., Clarysse B. and Binks M., 2006. University Spin-out Companies and Venture Capital. Research Policy, 35, 481-501.
Zucker L.G., Darby M.R. and Brewer M.B., 1998. Intellectual Human Capital and the Birth of US Biotechnology Enterprises. The American Economic Review, 88, 290-306.
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