Entrepreneurial effectiveness of European universities: An empirical assessment of antecedents and trade-offs

Entry by research-based spin-offs: the determinants of regional variation

“…This result is in line with previous evidence (e.g. Avnimelech and Feldman, 2011;Di Gregorio and Shane, 2003;O´Shea et al, 2005;van Looy et al, 2011).…”

“…This trend reflects the adoption, by several European countries (including Portugal), of regulatory frameworks that define the conditions and terms under which universities can maximize the value of their knowledge/research through the regulation of intellectual property rights, similar to what occurred in the U.S. with the Bayh-Dole Act (OECD, 2003;van Looy et al, 2011). The consolidation of the entrepreneurial mission of universities in Europe is directly related to an increase of institutional pressure on universities to commercialize research through licensing and/or RBSO, with the professionalization of technology transfer offices (TTOs) at the universities and the availability of public funds to support entrepreneurial activities (Claryssse et al, 2011;Mustar et al, 2008;Wright et al, 2007).…”

“…Di Gregorio and Shane (2003) using a sample of the start-up activity of 101 U.S. universities demonstrate a positive relation between spin-off creation and intellectual eminence/faculty quality. According to van Looy et al (2011) the academics from top universities may have easier access to resources for spin-off creation due to reputation effects. Colombo et al (2010) also consider that the characteristics of the local universities, such as the size of the university research staff and the quality of university research, influence RBSO's growth potential.…”

“…In the case of Europe, the "spin-off phenomenon" takes place mainly from the late 1990s, when we see an increase in the creation of spin-offs from higher education and public research organisations, subsequently generically denoted as "universities" (van Looy et al, 2011;Wright et al, 2007). This trend reflects the adoption, by several European countries (including Portugal), of regulatory frameworks that define the conditions and terms under which universities can maximize the value of their knowledge/research through the regulation of intellectual property rights, similar to what occurred in the U.S. with the Bayh-Dole Act (OECD, 2003;van Looy et al, 2011).…”

“…Considering the different levels of spin-off activity, the following factors are highlighted : (1) the founder's personal characteristics, namely motivation, career experience and faculty networking (Clarysse et al, 2011;Karlsson and Wigren, 2012;Landry et al, 2006); (2) the universities' characteristics, such as faculty quality and high quality of research (Di Gregorio and Shane, 2003;van Looy et al, 2011;Wright et al, 2008); (3) the broader social context of the university resources, i.e. entrepreneurial orientation/climate that support commercialization activity, namely technology transfer infrastructure, e.g.…”