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The university as a venture capitalist? Gap funding instruments for technology transfer

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  • Munari, Federico
  • Sobrero, Maurizio
  • Toschi, Laura

Abstract

The limited availability of private funding sources to support technology transfer activities represents a major barrier to the effective commercialization of university technologies. This article analyzes the key determinants of the activation of financial instruments by universities—such as seed funds and proof-of-concept programs—to address such funding gaps. Using data from a survey of technology transfer office managers in European universities, we detail the antecedents of the presence of such instruments at the university level and their perceived effectiveness. The findings, in turn, have notable policy implications.

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  • Munari, Federico & Sobrero, Maurizio & Toschi, Laura, 2018. "The university as a venture capitalist? Gap funding instruments for technology transfer," Technological Forecasting and Social Change, Elsevier, vol. 127(C), pages 70-84.
    • Handle: RePEc:eee:tefoso:v:127:y:2018:i:c:p:70-84
    DOI: 10.1016/j.techfore.2017.07.024
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    2. Battaglia, Daniele & Paolucci, Emilio & Ughetto, Elisa, 2021. "Opening the black box of university Proof-of-Concept programs: Project and team-based determinants of research commercialization outcomes," Technovation, Elsevier, vol. 108(C).
    3. Massimo G. Colombo & Massimiliano Guerini & Cristina Rossi-Lamastra & Andrea Bonaccorsi, 2022. "The “first match” between high-tech entrepreneurial ventures and universities: the role of founders’ social ties," The Journal of Technology Transfer, Springer, vol. 47(1), pages 270-306, February.
    4. Giuri, Paola & Munari, Federico & Scandura, Alessandra & Toschi, Laura, 2019. "The strategic orientation of universities in knowledge transfer activities," Technological Forecasting and Social Change, Elsevier, vol. 138(C), pages 261-278.
    5. Hua Cheng & Shiqian Huang & Yinhong Yu & Zhiying Zhang & Meifen Jiang, 2023. "The 2011 Collaborative Innovation Plan, University-Industry Collaboration and Achievement Transformation of Universities: Evidence from China," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 14(2), pages 1249-1274, June.
    6. M.A. Yurevich, 2021. "Global Transformation of Higher Education: From Traditional to Entrepreneurial University," Journal of Applied Economic Research, Graduate School of Economics and Management, Ural Federal University, vol. 20(3), pages 560-581.
    7. Clovia Hamilton & Simon P. Philbin, 2020. "Knowledge Based View of University Tech Transfer—A Systematic Literature Review and Meta-Analysis," Administrative Sciences, MDPI, vol. 10(3), pages 1-28, September.
    8. Mueller, Christoph E., 2023. "Startup grants and the development of academic startup projects during funding: Quasi-experimental evidence from the German ‘EXIST – Business startup grant’," Journal of Business Venturing Insights, Elsevier, vol. 20(C).
    9. George Bogdan Drăgan & Andrei Alexandru Panait & George Cristian Schin, 2022. "Tracking precursors of entrepreneurial intention: the case of researchers involved in eco-label industry," International Entrepreneurship and Management Journal, Springer, vol. 18(4), pages 1605-1622, December.
    10. Battaglia, Daniele & Paolucci, Emilio & Ughetto, Elisa, 2021. "The role of Proof-of-Concept programs in facilitating the commercialization of research-based inventions," Research Policy, Elsevier, vol. 50(6).
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    12. Stefan Marc Hossinger & Xiangyu Chen & Arndt Werner, 2020. "Drivers, barriers and success factors of academic spin-offs: a systematic literature review," Management Review Quarterly, Springer, vol. 70(1), pages 97-134, February.
    13. Seeber, Marco & Alon, Ilan & Pina, David G. & Piro, Fredrik Niclas & Seeber, Michele, 2022. "Predictors of applying for and winning an ERC Proof-of-Concept grant: An automated machine learning model," Technological Forecasting and Social Change, Elsevier, vol. 184(C).

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