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Can we tie wealth creation to university spin-offs?

Can we tie wealth creation to university spin-offs?
Monday, 5 June 2017

Professor and author Scott Shane defends the idea that there is a link between wealth creation and university spin-offs. Although he says that it is important to understand the local market where you are trying to spin-off, there are some tendencies that he can see in regards to types of universities, resources, etc. that promote university spin-offs in general [1].

According to Shane, one of the reasons that university spin-offs are so interesting is that they are able to take intellectual property generated within the university research body and participate in academic entrepreneurship. The other option that these researches have is to start a business based solely on the results without using the intellectual property. However Shane defends the idea that academic spin-offs are beneficial because they will use technology that big companies don’t really want, creating jobs with intellectual and monetary reward [1].

Spin-offs have become more popular and the commercialization of university research results has become contagious according to Shane. In addition, we can see how university spin-offs attract other professionals in the same area and venture capitalists, generating a positive space to start valuable companies [1].

However, we can also see that there are different factors that affect the potential that a university has to produce successful spin-offs. Shane identifies four: the university and societal environment; the technology that is being developed at the university; the industries in which the spin-off is being developed; and the people involved [2]. He also talks about the interest and investment that the university puts into the creation of spin-offs, the investment in research excellence, and the interaction that researchers have with the industry [1].

This author also underlines the idea that not everyone is ready to start a spin-off nor are all ideas ready to be sold. See more with Shane’s presentation about university spin-offs and the wealth they can help create here: https://www.youtube.com/watch?v=rMFCKaTckgI

[1] https://www.youtube.com/watch?v=rMFCKaTckgI

[2] https://www.e-elgar.com/shop/academic-entrepreneurship?___website=uk_warehouse