The role of pre-formation intangible assets in the endowment of science-based university spin-offs

Maine, Elicia; Thomas, Jon; Yaghmaie, Pegah; Goudarzi, Azadeh; Park, Andrew

doi:10.1504/ijtm.2022.10054449

Cited by 3 publications

(7 citation statements)

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“…In other words, the accounting literature tends to favor metrics that represent easily quantifiable and established firm assets such as R&D expenses and computer applications, and focuses less on fuzzier firm assets such as individual networks, research expertise, and the novelty, breadth, and market potential of patents. These fuzzier assets can play crucial roles in science innovation, early USO formation, and eventual venture success (Thomas et al, 2020; Park et al, 2022, 2023).…”

Section: Conceptual Backgroundmentioning

confidence: 99%

“…With the long timelines in commercializing breakthrough science, the decisions an academic scientist makes in the research lab regarding what research funding to pursue, experiments to run, technology attributes to explore, and intellectual property to protect, will have long-lasting consequences for future USO formation and development. Many university scientists assume that a business co-founder will make all the business decisions, however, well-endowed R&D Management 54, 1, 2024 193 USOs can often trace their success to intangible assets and entrepreneurial decisions made in the research lab, prior to firm formation (Thomas et al, 2020;Park et al, 2022Park et al, , 2023.…”

Section: Recommendations For Practicementioning

confidence: 99%

“…The following subsections synthesize several bodies of research to derive a new definition of intangible assets. (Thomas et al, 2020;Park et al, 2022Park et al, , 2023.…”

Section: Conceptual Backgroundmentioning

confidence: 99%

“…For example, in the biotechnology sector, the individual-level intangible assets of academic cofounders, such as their research excellence, and the novelty and breadth of their patents, inform strategic, path-dependent decisions even before USO founding (Thomas et al, 2020;Park et al, 2022Park et al, , 2023. These early decisions heavily influence the development of downstream resources and capabilities, such as prioritizing markets and developing a business model, that contribute to future USO success (Park et al, 2023). As another example, Fini et al (2022) find that STEMM scientists' research quality and patent activity significantly predict the likelihood of establishing science-based ventures.…”

Section: Introductionmentioning

confidence: 99%

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Science‐based innovation via university spin‐offs: the influence of intangible assets

Park,

Maine,

Fini

et al. 2023

R & D Management

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University spin‐offs (USOs) have attracted significant attention from scholars and policymakers as an important mechanism for science‐based innovation. The debate on how USOs generate innovation outcomes has often focused on tangible assets, while the role of intangible assets has been less explored and remains loosely defined. Yet emerging research suggests that intangible assets, especially in the early stages of a USO's lifecycle, have a critical influence on its survival and future success, highlighting a need for a better understanding of how intangible assets enable science‐based innovation through USOs. Drawing from several streams of literature, we define intangible assets in the context of science‐based innovation through USOs: an intangible asset is a resource that is non‐physical, non‐financial, has long life, and has potential to provide future benefits to the owner. Based on this working definition, we conduct a systematic literature review of the leading innovation management journals and inductively derive a framework outlining the antecedents, processes, and outcomes of science‐based innovation through USOs, focusing on the influence of intangible assets. The framework identifies the categories of resources which can enhance or hinder science‐based innovation through USOs. Such categorization reveals fruitful directions for future research such as a deeper examination of societal outcomes. We conclude by offering recommendations for scholars, practitioners, and policymakers to better leverage intangible assets to enhance science‐based innovation.

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Section: Conceptual Backgroundmentioning

confidence: 99%

Section: Recommendations For Practicementioning

confidence: 99%

“…The following subsections synthesize several bodies of research to derive a new definition of intangible assets. (Thomas et al, 2020;Park et al, 2022Park et al, , 2023.…”

Section: Conceptual Backgroundmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

See 2 more Smart Citations

Science‐based innovation via university spin‐offs: the influence of intangible assets

Park,

Maine,

Fini

et al. 2023

R & D Management

Self Cite

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Section: Accountingmentioning

confidence: 99%

Science-based Innovation via University Spin-offs: The Influence of Intangible Assets

Park,

Maine,

Fini

et al. 2023

SSRN Journal

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Return on investment from educational research grant funding: deliverables and measurement

Rahman,

Hanafiah,

Abd Hamid

et al. 2024

IJERE

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This paper investigates the return on investment (ROI) paradigm from fundamental educational research grant funding perspectives. The researchers conducted a wide-ranging literature search regarding the educational research grant funding ROI from public policy and economics viewpoints. The preferred reporting items for systematic reviews and meta-analyses (PRISMA) were utilized to identify and analyze research articles and original reports related to ROI from educational research grant funding. The research data were screened through a literature review based on the inclusion criteria, namely study focusing on return on investment of educational research funding and study published between 2001 and 2021 (as of December 2022). This study found evidence that ROI calculation from fundamental educational research grants is not straightforward and varies. Besides, most available research focuses on research impact rather than economic and intrinsic research value. Based on the compiled literature on research-related performance attributes, this study identified three distinct deliverables of educational research funding: tangible output, intangible output, and research outcome. The present research proposes more robust and reliable methods for measuring the ROI of fundamental educational research impact, potentially generating a much-inform decision-making and resource allocation in educational research grant funding.

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The role of pre-formation intangible assets in the endowment of science-based university spin-offs

Cited by 3 publications

References 0 publications

Science‐based innovation via university spin‐offs: the influence of intangible assets

Science‐based innovation via university spin‐offs: the influence of intangible assets

Science-based Innovation via University Spin-offs: The Influence of Intangible Assets

Return on investment from educational research grant funding: deliverables and measurement

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