Academic Entrepreneurship in Europe
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Academic Entrepreneurship in Europe

Mike Wright, Bart Clarysse, Philippe Mustar and Andy Lockett

This book advances our understanding of university spin-off creation and development in environments outside the high-tech clusters of the US. While there has been substantial university spin-off activity internationally in recent years, a number of major aspects are little understood. The authors argue that the nature of universities is changing as reduced public funding reflects a public debate on their role in society. An important aspect of this international phenomenon is an increased emphasis on the commercialization of university research and on academic entrepreneurship. These new ventures therefore involve the spinning-off of technology and knowledge generated by universities.
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Chapter 8: Conclusions and Policy Implications

Mike Wright, Bart Clarysse, Philippe Mustar and Andy Lockett


INTRODUCTION The purpose of this concluding chapter is threefold. First, we summarize the main findings as presented in each of the chapters, covering the different levels at which the spin-offs can be examined. Second, we discuss the implications of the findings from each chapter for the different actors that deal with spin-offs. These actors include the policy-makers, the individuals involved in the process of spin-off formation and the technology transfer office. We demonstrate the importance of multi-level change in an innovation system if spin-offs are to become a central feature of wealth creation in European economies. Third, we develop an agenda for future research. This chapter is structured as follows. First, we give an overview of the main chapters and discuss the implications of the findings in each of the chapters for the relevant stakeholders. Second, we develop future areas for research. Finally, we conclude the chapter with the main highlights. 8.2 CONCLUSIONS AND MAIN FINDINGS In this section we summarize the conclusions and main findings on a chapter by chapter basis. Chapter 2: Various Policy Mechanisms Have Been Developed to Bridge the So-called Knowledge and Financial Gap. However, Their Efficiency and Effectiveness Need Further Evaluation Our review in Chapter 2 showed that European countries have developed various framework conditions to facilitate the process of start-up creation in general. These countries’ experiences have shown that neither these frameworks, nor money alone (VC funds) were enough to create a dynamic spin-off sector. It...

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