1,721,067 research outputs found
TECHNOLOGY & INNOVATION MANAGEMENT Conference Paper Abstracts
No full textThe article addresses the question of how the patent portfolios of startup companies are evaluated by venture capital firms (VCs). Evidence indicates that VCs often do assess these values accurately. Studies are cited which demonstrate that VC financing and valuation correlate with patent rates and protection. The question of whether the industry affiliations of VCs affect their valuations is addressed. Whether the amount of financing obtained by startups depends on the number of their patents which involve core technological specialties is also discussed. Such issues are examined using examples drawn from the field of nanotechnology
From The Lab To The Stock Market? An Analysis Of University-Oriented Seed Funds In Europe
No full textThis work investigates the role of university and PRO-oriented seed funds (i.e. USFs), namely VC funds with an explicit mission to make investments in academic spin-offs, as instruments to address the funding gap. We first offer an overview on USFs in Europe highlighting their heterogeneity and main characteristics. Second, we exploit an unique dataset of 1497 companies (including 733 USF-backed startups and other 764 startups backed by other VC funds) in order to analyze how USF-backed companies perform in terms of exit rates, staging and syndication levels with respect to non USF-backed companies. Empirical evidence suggests that USF-backed companies perform better in terms of staging and syndication, but worse in terms exit rates. Moreover, our analyses show that, within the group of USF-backed companies, the one that can attract more follow-on funding and investors are the ones financed by USFs which are internally managed by a university/PRO and that are linked to universities with high scientific rankings
Public policy measures in support of knowledge transfer activities: a review of academic literature
Full text linkDespite the wealth of academic studies that analyze different policy measures and initiatives implemented by national or regional governments to support knowledge transfer from academia to industry, scant systematization efforts seek to integrate these disparate lines of research. The systematic review of academic studies on public policy measures in support of technology transfer presented by this article suggests a literature classification based on two dimensions: the type of policy measure analyzed, and the focus of the study (i.e., policy design vs. impact assessment). On the basis of this comprehensive review, we summarize the lessons learned thus far, identify research gaps that continue to limit insights into public policy measures for technology transfer, and highlight directions for further research
From the lab to the stock market? The characteristics and impact of university-oriented seed funds in Europe
Full text linkThis work investigates the role of university and PRO-oriented seed funds (USFs)— VC funds with an explicit mission to make investments in academic spin-offs and support technology transfer—as instruments for addressing funding gaps and facilitating the commer- cialization of academic technologies. We first offer an overview of USFs in Europe, highlighting their heterogeneity and principal characteristics. Second, we exploit a unique data set of 1,497 start-ups (including 733 USF-backed start-ups and another 764 start-ups backed by other VC funds) to analyze how USF-backed companies perform in terms of exit rates, staging, and syndication levels when compared with non-USF-backed companies. Empirical evidence sug- gests that USF-backed companies perform better in staging and syndication but worse in exit rates. Moreover, our analyses show that, within the group of USF-backed companies, the ones that can attract more follow-on funding and investors are those financed by USFs that are internally managed by a universities/PROs and are linked to universities with high scientific rankings
Financing technology transfer: assessment of university-oriented proof-of-concept programmes
Full text linkThis study analyses the characteristics of the proof-of-concept (POC) programmes initiated by university and public research organisations in Europe, as a mechanism to address funding gaps and improve the transfer of research-based inventions to markets. We contribute to the literature on investment readiness of new ventures and on financing technology transfer by assessing the structure of such funding instruments and identifying critical success factors for their design and implementation. The analyses rely on seven in-depth case studies of university-oriented POCs in Europe
The impact of public support for SMEs' patenting activity: Empirical evidence from Italy
No full textOver the last decade, public patent subsidies have played an important role in several countries in enhancing international filings by domestic companies, especially SMEs. In this paper, we first analyze patent subsidies implemented in Italy from 2002 to 2012 and classify them according to four different typologies, based on their rationale and objectives. We then use data from a sample of 222 patents subsidized by the Chamber of Commerce of Milan in Northern Italy, and a control group of non-subsidized patents, to assess the impact of patent subsidies on patent value and firmsâ turnover growth. We conclude by discussing policy recommendations for the optimal design of patent subsidy schemes
What determines university patent commercialization? Empirical evidence on the role of IPR ownership
Full text linkThis paper addresses the commercialization of academic patents, developed in both universities and public research organizations (PROs). We distinguish between university owned and university-invented patents to analyze if and how patent ownership affects the probability of commercialization and, similarly, if the characteristics of national university intellectual property right (IPR) regimes correlate with it. We study three commercialization channels—sales, licensing and spin-off formation—appearing in a sample of 858 university and PRO patents ?led with the European Patent Of?ce between 2003 and 2005 across 22 countries. To analyze differences in commercialization outcomes, this study employs a multivariate probit model. The results suggest that PRO ownership is negatively associated with the likelihood of selling the patent and creating an academic spin-off; university ownership positively affects the patent’s licensing uses. Finally, the institutional IPR regime has a negative effect on the probability of selling a patent
Determinants of the university technology transfer policy-mix: a cross-national analysis of gap-funding instruments
Full text linkUniversity–industry technology transfer (TT) has become increasingly insti- tutionalized and is supported by numerous reforms and initiatives at the national, regional and university levels. Most countries have implemented a policy mix involving a range of instruments to support the commercialization of research. Still, there is no systematic evidence indicating why the mix of policy instruments differs between countries. This study offers a novel cross-national investigation of the policy mix emphasizing the level of centralization and decentralization of policy instruments. We map and analyze two specific types of public instruments aimed at addressing the so-called funding gap in TT: proof of concept programs (POCs) and university-oriented seed funds (USFs). Based on a survey across 21 European countries, we find that such instruments are widely used but are organized differently depending on the level of implementation of TT practices in the country and the specific type of instrument considered. More precisely, we find a U-shaped relationship between the use of centralized gap-funding instruments and the country’s implementation of TT practices. Moreover, the type of gap-funding instrument (POC or USF) moderates this relationship. We discuss the implications of our findings and suggest that the policy mix of gap-funding instruments evolve with the maturity of the national TT infrastructure
The effects of university-level policies on women’s participation in academic patenting in Italy
Full text linkA growing stream of the academic literature has investigated the factors that hamper the participation of women researchers in patenting and commercialization activities; however, limited research has examined the policies that address these forms of the gender gap. In this paper, we explore whether the ownership arrangements of university patents and the presence of university-level support measures such as technology transfer offices and linkages with science and technology parks are positively associated with women’s involvement in academic patenting. We test our hypotheses on a sample of 2538 academic patents by Italian inventors in the period 1996–2007. The results of our analyses highlight a positive role of university policies in addressing the gender gap in technology transfer activities
The strategic orientation of universities in knowledge transfer activities
Full text linkPrevious research has claimed that universities can enhance the effectiveness of knowledge transfer activities by establishing a clear strategic goal and aligning all their activities towards that direction. To shed new light on this issue, in this paper we explore the determinants of universities' strategic choices in the field of knowledge transfer (KT). We identify theoretically and empirically three university KT strategies: income-generation strategy, service-to-faculty strategy, and local development strategy. We then investigate the role of university-level factors that determine the strategic choice of universities, particularly focusing on university horizontal (generalist vs. specialist) and vertical (high vs. low prestige) diversity. The empirical analysis relies on a unique survey of 178 university TTO managers across European universities, combined with additional data sources. Our results show that generalist and low prestige universities mainly pursue the local development strategy, while specialist and high prestige ones are more oriented towards the income generation strategy. These findings are highly relevant for theory and practice of KT in academic insitutions, given the relevance that the university third mission has for economic and societal development
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