Financing University Research
AbstractWhile the detailed mechanisms of the interplay of knowledge creation and economic growth have been discussed in great detail by endogenous growth theory, this paper is interested in assessing the role that universities play in the knowledge based economy. It does so at the example of best practice scenarios, as currently being undertaken by the University of Oxford, U.C. Berkeley, the M.I.T. and Chalmers School of Technology. It argues that key to successful research commercialization is the leverage of clusters and networks that assure knowledge flows between universities and business. We call this the ‘Third Way’ of university research commercialization, which focuses on systemic change, rather than on single stakeholder intervention. It reflects a novel generation of knowledge policies that focuses on training, awareness raising and the leverage of cluster effects, rather than the development of physical infrastructure (i.e. science parks). This is a unique approach that outperforms existing best practice in many ways; i.e. it focuses on the leverage of networks among the various academic institutions, rather than repeating the traditional ‘one university – one technology transfer office’ approach. The ‘Third Way’ also outperforms existing best practices by adopting latest trends in intellectual property management , such as online trading, perceiving intellectual property as a financial asset and leveraging open innovation for improving patent quality. Organizational values, structures & procedures of various actors (business, academia, government) are recognized and different institutional cultures are sought to be overcome through boundary spanning. The competing demands and interests of business and academia are reflected through the introduction of ‘social responsible university research commercialization’, as currently undertaken by U.C. Berkeley.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 36394.
Date of creation: 10 Jan 2012
Date of revision:
Technology Transfer; Research Funding; Intellectual Property; Chalmers School of Technology; U.C. Berkeley; Oxford University;
Find related papers by JEL classification:
- O34 - Economic Development, Technological Change, and Growth - - Technological Change; Research and Development; Intellectual Property Rights - - - Intellectual Property and Intellectual Capital
- O32 - Economic Development, Technological Change, and Growth - - Technological Change; Research and Development; Intellectual Property Rights - - - Management of Technological Innovation and R&D
This paper has been announced in the following NEP Reports:
- NEP-ALL-2012-02-20 (All new papers)
- NEP-INO-2012-02-20 (Innovation)
- NEP-IPR-2012-02-20 (Intellectual Property Rights)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Romer, Paul M, 1986.
"Increasing Returns and Long-run Growth,"
Journal of Political Economy,
University of Chicago Press, vol. 94(5), pages 1002-37, October.
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