Determinant factors of university spin-off: the case of Korea
Hyejin Jung and
Byung-Keun Kim ()
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Hyejin Jung: Korea University of Technology and Education
Byung-Keun Kim: Korea University of Technology and Education
The Journal of Technology Transfer, 2018, vol. 43, issue 6, 1631-1646
Abstract Increasingly more research has examined the creation of university spin-off firms as are seen as an important source of regional and national economic growth. However little is known about the factors influencing the formation of university spin-off in Asian countries, especially in Korea. This paper contributes to the literature on academic entrepreneurship by deepening our understanding on determinant factors of university spin-off in the case of Korea. We investigate organizational and institutional factors highlighted in the literature as influencing the creation of university spin-off companies. The Korean government has implemented the INNOPOLIS Research Institute Spin-off (IRIS) program to enable universities to create new firms within special research and development (R&D) zones to commercialize public R&D output. The capability of universities to establish new firms through the program varies; consequently, this study utilized 122 universities from 2013 to 2015 to analyze determinant factors that affect university spin-offs. Panel logit and negative binomial analysis results indicate that university location has the highest positive influence on IRIS. Government-sponsored funding has a negative impact; however, the likelihood that universities create spin-offs and the number of IRIS firms are positively and significantly affected by publications, patents, research funding, and number of university spin-offs.
Keywords: University spin-offs; Commercialization of public R&D; Academic entrepreneurship; Technology transfer (search for similar items in EconPapers)
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