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How to evaluate the impact of academic spin-offs on local development: an empirical analysis of the Italian case

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  • Donato Iacobucci
  • Alessandra Micozzi

Abstract

The paper proposes a framework to evaluate the impact of academic spin-offs at the local level. Spin-off creation is the most complex way of commercializing academic research, compared to patenting and R&D collaborations, but has the highest potential impact on the local context. We develop a framework that takes into account the direct and indirect impacts of spin-offs. In the empirical part of the paper we apply this framework to Italian spin-offs set up between 2000 and 2012, and to a sample of Università Politecnica delle Marche spin-offs. The empirical analysis shows that, measured in quantitative terms, the impact of spin-offs on the local economy is quite small. However, this depends on the characteristics of the local economy, and there are some indirect effects that should be considered in both the short and longer terms. Copyright Springer Science+Business Media New York 2015

Suggested Citation

  • Donato Iacobucci & Alessandra Micozzi, 2015. "How to evaluate the impact of academic spin-offs on local development: an empirical analysis of the Italian case," The Journal of Technology Transfer, Springer, vol. 40(3), pages 434-452, June.
    • Handle: RePEc:kap:jtecht:v:40:y:2015:i:3:p:434-452
    DOI: 10.1007/s10961-014-9357-8
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    1. Joan Crespo & Jesús Peiró-Palomino & Emili Tortosa-Ausina, 2020. "Does university performance have an economic payoff for their home regions? Evidence for the Spanish provinces," Working Papers 2020/20, Economics Department, Universitat Jaume I, Castellón (Spain).
    2. María Jesús Rodríguez-Gulías & David Rodeiro-Pazos & Sara Fernández-López & Christian Corsi & Antonio Prencipe, 2018. "The role of venture capitalist to enhance the growth of Spanish and Italian university spin-offs," International Entrepreneurship and Management Journal, Springer, vol. 14(4), pages 1111-1130, December.
    3. Danilo Boffa & Antonio Prencipe, 2021. "The Emerging Contextual Effect of University Spin-offs and its Role in Spurring Innovation in Regional Area," Advances in Management and Applied Economics, SCIENPRESS Ltd, vol. 11(6), pages 1-3.
    4. Mario Benassi & Francesco Rentocchini, 2017. "Academic spinoffs and regional development: New insights for future research," EKONOMIAZ. Revista vasca de Economía, Gobierno Vasco / Eusko Jaurlaritza / Basque Government, vol. 92(02), pages 190-221.
    5. Nuria Toledano & Ana Gessa & Reyes Sanchez-Herrera, 2022. "Rethinking the Resources and Responsibilities of University Spin-Offs: Critical Factors in Times of Global Crisis," Sustainability, MDPI, vol. 14(19), pages 1-18, October.
    6. Prokop, Daniel, 2021. "University entrepreneurial ecosystems and spinoff companies: Configurations, developments and outcomes," Technovation, Elsevier, vol. 107(C).
    7. Francisco Javier Miranda & Antonio Chamorro & Sergio Rubio, 2018. "Re-thinking university spin-off: a critical literature review and a research agenda," The Journal of Technology Transfer, Springer, vol. 43(4), pages 1007-1038, August.
    8. María Elena Gómez-Miranda & Isabel Román-Martínez, 2016. "Las spin-off universitarias españolas: análisis económico-financiero y factores que condicionan su cifra de negocios," Hacienda Pública Española / Review of Public Economics, IEF, vol. 217(2), pages 131-155, June.
    9. Cyrine Ben-Hafaïedh & Alessandra Micozzi & Pierpaolo Pattitoni, 2018. "Academic spin-offs’ entrepreneurial teams and performance: a subgroups approach," The Journal of Technology Transfer, Springer, vol. 43(3), pages 714-733, June.
    10. Michele Meoli & Silvio Vismara, 2016. "University support and the creation of technology and non-technology academic spin-offs," Small Business Economics, Springer, vol. 47(2), pages 345-362, August.
    11. Tommaso Agasisti & Cristian Barra & Roberto Zotti, 2019. "Research, knowledge transfer, and innovation: The effect of Italian universities’ efficiency on local economic development 2006−2012," Journal of Regional Science, Wiley Blackwell, vol. 59(5), pages 819-849, November.
    12. Lorena Cadavid & Luisa Díez-Echavarría & Alejandro Valencia, 2017. "Spin-Off Activities At Higher Educational Institutions: Performance Implications From A Modeling Perspective," Journal of Developmental Entrepreneurship (JDE), World Scientific Publishing Co. Pte. Ltd., vol. 22(02), pages 1-21, June.
    13. Qiu, Shumin & Liu, Xielin & Gao, Taishan, 2017. "Do emerging countries prefer local knowledge or distant knowledge? Spillover effect of university collaborations on local firms," Research Policy, Elsevier, vol. 46(7), pages 1299-1311.
    14. Elisa Barbieri & Lauretta Rubini & Chiara Pollio & Alessandra Micozzi, 2018. "What are the trade-offs of academic entrepreneurship? An investigation on the Italian case," The Journal of Technology Transfer, Springer, vol. 43(1), pages 198-221, February.
    15. Miao Wang & Danny Soetanto & Jianfeng Cai & Hina Munir, 2022. "Scientist or Entrepreneur? Identity centrality, university entrepreneurial mission, and academic entrepreneurial intention," The Journal of Technology Transfer, Springer, vol. 47(1), pages 119-146, February.
    16. Francesca Zanier, 2018. "Universit?, terza missione e sviluppo economico: le spin-off accademiche italiane," PRISMA Economia - Societ? - Lavoro, FrancoAngeli Editore, vol. 2018(1-2), pages 46-68.
    17. Giovanna Mariani & Davide Morelli & Leonardo Bartoloni, 2019. "Managing uncertainty in the start-up environment. Is a business plan an incentive or a limitation?," MANAGEMENT CONTROL, FrancoAngeli Editore, vol. 2019(1), pages 73-96.
    18. repec:ekz:ekonoz:2017209 is not listed on IDEAS
    19. Christian Corsi & Antonio Prencipe, 2018. "The Contribution of University Spin-Offs to the Competitive Advantage of Regions," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 9(2), pages 473-499, June.
    20. Iacobucci, Donato & Perugini, Francesco, 2023. "Innovation performance in traditional industries: Does proximity to universities matter," Technological Forecasting and Social Change, Elsevier, vol. 189(C).
    21. Fasano, Francesco & Rocca, Maurizio La & Cariola, Alfio & Passarelli, Mariacarmela, 2023. "Banking relationship and research spin-offs’ life cycle: The Italian experience," Research in International Business and Finance, Elsevier, vol. 65(C).
    22. F. I. Vega-Gómez & F. J. Miranda González & J. Pérez-Mayo, 2020. "Analyzing the Effects of Institutional- and Ecosystem-Level Variables on University Spin-Off Performance," SAGE Open, , vol. 10(2), pages 21582440209, June.
    23. Christian Corsi, 2018. "Il ruolo degli spin-off universitari nel contesto socio-economico locale: analisi degli indicatori di performance e innovazione," MANAGEMENT CONTROL, FrancoAngeli Editore, vol. 2018(1), pages 73-94.
    24. Marco Bellandi & Annalisa Caloffi & Sara Masi, 2021. "Bottom-level organizational changes within entrepreneurial and engaged models of university: insights from Italy," The Journal of Technology Transfer, Springer, vol. 46(4), pages 907-932, August.

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    More about this item

    Keywords

    Academic spin-offs; Economic impact; Local development; Italy; R12; M13; 033;
    All these keywords.

    JEL classification:

    • R12 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Size and Spatial Distributions of Regional Economic Activity; Interregional Trade (economic geography)
    • M13 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - New Firms; Startups

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