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What matters: The Formation of University Spin-offs in Europe


  • Hunady Jan
  • Orviska Marta
  • Pisar Peter

    (Faculty of Economics, Matej Bel University in Banska Bystrica, Slovakia)


Background: Transfer of knowledge from academia to business is one of the crucial issues for creating innovation. Creation of university spin-offs could significantly improve this transfer. Objectives: The main scientific aim is to examine the differences between universities in European countries and identify factors affecting the probability of creating the university spin-off. The paper is also focused on the differences in the specialization and financial sources of universities. Methods/Approach: We compare selected indicators for higher education institutions in European countries and examine potential determinants affecting the probability of academic spin-off formation. With respect to the main aim, the logit and probit regression analyses have been used. Results: Our results show that the creation of spin-offs is typical on the one hand for highly specialized universities or on the other hand for universities with a wide variety of study programs. They should also have an optimum number of doctoral students and have mostly less funding from tuition fees. Conclusions: Several indicators appear to play an important role in the formation of university spin-off. These indicators are the level of specialization, the share of tuition fees in the University budget, and the share of Ph.D. and foreign students.

Suggested Citation

  • Hunady Jan & Orviska Marta & Pisar Peter, 2019. "What matters: The Formation of University Spin-offs in Europe," Business Systems Research, Sciendo, vol. 10(1), pages 138-152, April.
  • Handle: RePEc:bit:bsrysr:v:10:y:2019:i:1:p:138-152:n:10

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