Determinants of the economic performance of Portuguese Academic Spin-offs: do Science & Technology infrastructures and support matter?
Academic and political interest in Academic Spin-offs (ASOs) has increased significantly in Portugal in the last few years. Although these firms, created to exploit the results of scientific research, are considered important contributors to employment and wealth creation, in the Portuguese case, their impact has been modest, at best. Based on a sample of 101 ASOs associated to the members of the University Technology Enterprise Network (UTEN), we found that ASOs are quite small (employing on average 9 full time equivalent individuals and a turnover of 300 thousand euros). Besides being highly R&D intensive, Portuguese ASOs are internationally-led with almost half of the respondent firms involved in exporting. An econometric analysis revealed the relevant role of certain types of S&T infrastructures and support mechanisms for the economic performance of ASOs In particular, access to incubators, access to skilled labour, and support in terms of business mentoring and counselling emerged as significantly and positively related with ASOs’ sales per worker. Moreover, their economic performance is extremely dependent on internationalization dynamics, with firms that export outperforming their domestically-based counterparts. The lack of economic return on R&D performed and patents registered by firms indicates that the steady investment in science, technology and innovation in Portugal in the last decade, although undoubtedly necessary, has not yet materialized sufficiently to push the system towards solid, productive and value added firms. Therefore, policies aimed at accelerating ideas and knowledge into internationally competitive ideas and products are required.
|Date of creation:||Sep 2013|
|Contact details of provider:|| Postal: Rua Dr. Roberto Frias, 4200 PORTO|
Web page: http://www.fep.up.pt/
More information through EDIRC
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.:
- Vohora, Ajay & Wright, Mike & Lockett, Andy, 2004. "Critical junctures in the development of university high-tech spinout companies," Research Policy, Elsevier, vol. 33(1), pages 147-175, January.
- Anders Malmberg & Bo Malmberg & Per Lundequist, 2000. "Agglomeration and firm performance: economies of scale, localisation, and urbanisation among Swedish export firms," Environment and Planning A, Pion Ltd, London, vol. 32(2), pages 305-321, February.
- Bart Clarysse & Mike Wright & Els Van de Velde, 2011.
"Entrepreneurial Origin, Technological Knowledge, and the Growth of Spin‐Off Companies,"
Journal of Management Studies,
Wiley Blackwell, vol. 48, pages 1420-1442, 09.
- B. Clarysse & M. Wright & E. Vandevelde, 2010. "Entrepreneurial Origin, Technological Knowledge and the Growth of Spin-off Companies," Working Papers of Faculty of Economics and Business Administration, Ghent University, Belgium 10/693, Ghent University, Faculty of Economics and Business Administration.
- Lehrer, Mark & Asakawa, Kazuhiro, 2004. "Rethinking the public sector: idiosyncrasies of biotechnology commercialization as motors of national R&D reform in Germany and Japan," Research Policy, Elsevier, vol. 33(6-7), pages 921-938, September.
- Fornoni, Mariel & Arribas, Iván & Vila, José E., 2012. "An entrepreneur's social capital and performance: the role of access to information in the Argentinean case," Nülan. Deposited Documents 1881, Centro de Documentación, Facultad de Ciencias Económicas y Sociales, Universidad Nacional de Mar del Plata.
- Iván Arribas & Mariel Fornoni & Jose E. Vila, 2012. "An entrepreneur’s social capital and performance The role of access to information in the Argentinean case," Discussion Papers in Economic Behaviour 0712, University of Valencia, ERI-CES.
- Junfu Zhang, 2009. "The performance of university spin-offs: an exploratory analysis using venture capital data," The Journal of Technology Transfer, Springer, vol. 34(3), pages 255-285, June.
- Gimmon, Eli & Levie, Jonathan, 2010. "Founder's human capital, external investment, and the survival of new high-technology ventures," Research Policy, Elsevier, vol. 39(9), pages 1214-1226, November.
- Clarysse, Bart & Wright, Mike & Lockett, Andy & Van de Velde, Els & Vohora, Ajay, 2005. "Spinning out new ventures: a typology of incubation strategies from European research institutions," Journal of Business Venturing, Elsevier, vol. 20(2), pages 183-216, March.
- B. Clarysse & M. Wright & A. Lockett & E. Van De Velde & A. Vohora, 2004. "Spinning Out New Ventures: A Typology Of Incubation Strategies From European Research Institutions," Working Papers of Faculty of Economics and Business Administration, Ghent University, Belgium 04/228, Ghent University, Faculty of Economics and Business Administration.
- Zheng, Yanfeng & Liu, Jing & George, Gerard, 2010. "The dynamic impact of innovative capability and inter-firm network on firm valuation: A longitudinal study of biotechnology start-ups," Journal of Business Venturing, Elsevier, vol. 25(6), pages 593-609, November.
- Aurora Teixeira & Joana Costa, 2006. "What Type of Firm Forges Closer Innovation Linkages with Portuguese Universities?," Notas Económicas, Faculty of Economics, University of Coimbra, issue 24, pages 22-47, December.
- Aurora A.C. Teixeira & Joana Costa, 2006. "What type of firm forges closer innovation linkages with Portuguese Universities?," FEP Working Papers 207, Universidade do Porto, Faculdade de Economia do Porto.
- Mozhdeh Taheri & Marina van Geenhuizen, 2011. "How human capital and social networks may influence the patterns of international learning among academic spin‐off firms," Papers in Regional Science, Wiley Blackwell, vol. 90(2), pages 287-311, 06.
- Einar Rasmussen & Simon Mosey & Mike Wright, 2011. "The Evolution of Entrepreneurial Competencies: A Longitudinal Study of University Spin‐Off Venture Emergence," Journal of Management Studies, Wiley Blackwell, vol. 48, pages 1314-1345, 09.
- Christine Cooper & Stephanie Hamel & Stacey Connaughton, 2012. "Motivations and obstacles to networking in a university business incubator," The Journal of Technology Transfer, Springer, vol. 37(4), pages 433-453, August.
- Garbe, Jan-Nicolas & Richter, Nicole Franziska, 2009. "Causal analysis of the internationalization and performance relationship based on neural networks -- advocating the transnational structure," Journal of International Management, Elsevier, vol. 15(4), pages 413-431, December.
- Walter, Achim & Auer, Michael & Ritter, Thomas, 2006. "The impact of network capabilities and entrepreneurial orientation on university spin-off performance," Journal of Business Venturing, Elsevier, vol. 21(4), pages 541-567, July.
- Colombo, Massimo G. & Grilli, Luca, 2010. "On growth drivers of high-tech start-ups: Exploring the role of founders' human capital and venture capital," Journal of Business Venturing, Elsevier, vol. 25(6), pages 610-626, November.
- Michael S. Dahl & Olav Sorenson, 2012. "Home Sweet Home: Entrepreneurs' Location Choices and the Performance of Their Ventures," Management Science, INFORMS, vol. 58(6), pages 1059-1071, June.
- Franz Tödtling & Peter Prud'homme van Reine & Steffen Dörhöfer, 2011. "Open Innovation and Regional Culture—Findings from Different Industrial and Regional Settings," European Planning Studies, Taylor & Francis Journals, vol. 19(11), pages 1885-1907, January.
- Phan, Phillip H. & Siegel, Donald S. & Wright, Mike, 2005. "Science parks and incubators: observations, synthesis and future research," Journal of Business Venturing, Elsevier, vol. 20(2), pages 165-182, March.
- Caldera, Aida & Debande, Olivier, 2010. "Performance of Spanish universities in technology transfer: An empirical analysis," Research Policy, Elsevier, vol. 39(9), pages 1160-1173, November.
- Elicia Maine & Daniel Shapiro & Aidan Vining, 2010. "The role of clustering in the growth of new technology-based firms," Small Business Economics, Springer, vol. 34(2), pages 127-146, February.
- van Burg, E. & Gilsing, V.A. & Reymen, I.M.M.J. & Romme, A.G.L., 2008. "Creating university spin-offs : A science-based design perspective," Other publications TiSEM ed13609d-fde4-43dc-ba8a-d, Tilburg University, School of Economics and Management.
- O'Shea, Rory P. & Allen, Thomas J. & Chevalier, Arnaud & Roche, Frank, 2005. "Entrepreneurial orientation, technology transfer and spinoff performance of U.S. universities," Research Policy, Elsevier, vol. 34(7), pages 994-1009, September.
- Shane, Scott, 2004. "Encouraging university entrepreneurship? The effect of the Bayh-Dole Act on university patenting in the United States," Journal of Business Venturing, Elsevier, vol. 19(1), pages 127-151, January.
- Rory O’Shea & Harveen Chugh & Thomas Allen, 2008. "Determinants and consequences of university spinoff activity: a conceptual framework," The Journal of Technology Transfer, Springer, vol. 33(6), pages 653-666, December.
- Landry, Rejean & Amara, Nabil & Rherrad, Imad, 2006. "Why are some university researchers more likely to create spin-offs than others? Evidence from Canadian universities," Research Policy, Elsevier, vol. 35(10), pages 1599-1615, December.
- Scott Shane & Rakesh Khurana, 2003. "Bringing individuals back in: the effects of career experience on new firm founding," Industrial and Corporate Change, Oxford University Press, vol. 12(3), pages 519-543, June.
- Lockett, Andy & Siegel, Donald & Wright, Mike & Ensley, Michael D., 2005. "The creation of spin-off firms at public research institutions: Managerial and policy implications," Research Policy, Elsevier, vol. 34(7), pages 981-993, September.
- Panagiotis Ganotakis, 2012. "Founders’ human capital and the performance of UK new technology based firms," Small Business Economics, Springer, vol. 39(2), pages 495-515, September. Full references (including those not matched with items on IDEAS)
When requesting a correction, please mention this item's handle: RePEc:por:fepwps:502. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: ()
If references are entirely missing, you can add them using this form.