Rethinking the Resources and Responsibilities of University Spin-Offs: Critical Factors in Times of Global Crisis

Abstract

In recent years, the promotion of university spin-offs has become a measure adopted by many European universities to facilitate the commercialization of new technologies and knowledge that can lead to more sustainable economies and societies. However, the effectiveness of university-based companies has also been questioned, as many of them are resource-constrained, remain small in size and struggle to consolidate once they leave the university context. This paper addresses two main research questions: what are the critical factors inhibiting the consolidation, performance, and sustainable development of university spin-offs at a mid-range European university, and which critical factors need to be addressed the most thoroughly by the university’s support programs in order to improve their efficiency? To answer these questions, we collected relevant information from a panel of experts and interviewed academic entrepreneurs from a public university in the South of Spain. The analytic hierarchy process was applied to identify and prioritize the critical factors and sub-factors encountered by the university-based companies. The results show that poor management is the biggest critical factor in the consolidation of the spin-offs. One implication, the findings of our study reveal, is the need for university administrators to improve support for university spin-offs in terms of managing the new business as opposed to prioritizing the difficulties associated with the launch. Another is the need to raise awareness among faculties of the importance of finding an appropriate balance between technical and managerial skills in order to improve the chances of entrepreneurial success.

Co-Creation in Sustainable Entrepreneurship Education: Lessons from Business–University Educational Partnerships

“…These acts stipulate the tasks and management of universities of applied sciences and their organs. Lapland UAS is an example of a mid-range university [65,66] with around 500 employees, 5000 students, and almost 1230 partners. The Lapland University community operates sustainably, in constant dialogue with stakeholders and partners.…”

European Academic Spin-Offs: Exploring the Barriers to Long-Term Success

“…Generating business ideas from research can be challenging due to various barriers on an individual level. (Toledano et al 2022) state that academic entrepreneurs may experience ethical dilemmas in the commercialization of knowledge and technology through ASOs without clear guidance. Academic entrepreneurs' attachment to academia and university life can at times conflict with their entrepreneurial activities, particularly when research and business interests diverge.…”

“…Serving the public interest, a typical goal of academic activity, can collide with the commercialization of knowledge and technology through ASOs, leaving academic entrepreneurs with ethical dilemmas without clear guidance. The current literature also points to the pressure that academic entrepreneurs can face to reconcile scientific knowledge with commercially viable knowledge (Toledano et al 2022).…”

“…Management problems (Seguí-Mas et al 2018), lack of time resources due to focusing on an academic career (Luczaj 2022), and ethical dilemmas related to the commercialization of knowledge and technology (Toledano et al 2022) are some of the obstacles to be overcome. Individual factors such as academic seniority, entrepreneurial personality, and perceived benefits of entrepreneurship also play a role (Vega-Gomez et al 2018).…”