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Complements or substitutes? The role of universities and local context in supporting the creation of academic spin-offs

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Author Info

  • Fini, Riccardo
  • Grimaldi, Rosa
  • Santoni, Simone
  • Sobrero, Maurizio

Abstract

In this paper, we analyze the extent to which University-Level Support Mechanisms (ULSMs) and Local-Context Support Mechanisms (LCSMs) complement or substitute for each other in fostering the creation of academic spin-offs. Using a sample of 404 companies spun off from the 64 Italian Science, Technology, Engineering, and Mathematics universities (STEM universities) over the 2000-2007 period, we show that the ULSMs' marginal effect on universities' spin-off productivity may be positive or negative depending on the contribution offered by different LCSMs. Specifically, in any given region, ULSMs complement the legislative support offered to high-tech entrepreneurship whereas they have a substitution effect with regard to the amount of regional social capital, regional financial development, the presence of a regional business incubator, regional public R&D expenses as well as the level of innovative performance in the region. Results support the idea that regional settings' idiosyncrasies should be considered for universities to develop effective spin-off support policies. This paper contributes to the debate on the evaluation of economic policies supporting entrepreneurship.

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Bibliographic Info

Article provided by Elsevier in its journal Research Policy.

Volume (Year): 40 (2011)
Issue (Month): 8 (October)
Pages: 1113-1127

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Handle: RePEc:eee:respol:v:40:y:2011:i:8:p:1113-1127

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Web page: http://www.elsevier.com/locate/respol

Related research

Keywords: Academic entrepreneurship Academic spin-offs University-level support mechanisms Local-context support mechanisms Technology transfer;

References

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Cited by:
  1. ŞERBĂNICĂ Cristina, 2012. "Best Practices in Universities’ Regional Engagement. Towards Smart Specialisation," European Journal of Interdisciplinary Studies, Bucharest Economic Academy, issue 02, June.
  2. Attila Varga & Márton Horváth, 2012. "Institutional and regional factors behind university patenting in Europe: An exploratory spatial analysis using EUMIDA data," Working Papers 2012/5, University of Pécs, Department of Economics and Regional Studies, revised Oct 2012.
  3. Acosta, Manuel & Coronado, Daniel & Martínez, M. Ángeles, 2012. "Spatial differences in the quality of university patenting: Do regions matter?," Research Policy, Elsevier, vol. 41(4), pages 692-703.
  4. Paola Cardamone & Valeria Pupo & Fernanda Ricotta, 2014. "Assessing The Impact Of University Technology Transfer On Firms’ Innovation," Working Papers 201403, Università della Calabria, Dipartimento di Economia, Statistica e Finanza (Ex Dipartimento di Economia e Statistica).

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