The Contribution of Academic Research to Innovation and Growth. WWWforEurope Working Paper No. 71

Reinhilde Veugelers

in WIFO Studies from WIFO

Abstract: The link between science and industry is neither direct nor obvious. The evidence for Europe shows a general lagging behind relative to the USA, particularly on academic patenting and university spin-offs. Patenting and licensing is only two of a number of pathways for the transfer of knowledge from universities to industry, and perhaps not even the best forms. Students' and researchers' mobility from academia to industry is a critical mechanism to transfer knowledge from the university to industry. Although this is an area of great importance, only recently innovation research has started to trace researchers' intersectoral mobility. To improve the contribution of universities to innovation based growth, policy should take a long-term perspective for developing an industry-science eco-system, avoiding the temptation of quick "success stories". Policy makers should be more "innovative" in their search for effective policy interventions, venturing beyond the classic spin-off and incubator programmes. At the same time, they should be more serious about evaluating their new and existing instruments. Systematic data collection and analysis on the various pathways for universities' contribution to economic prosperity should be supported.

Date: 2014
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Citations: View citations in EconPapers (4)

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