Acta academica karviniensia 2017, 17(1):28-40 | DOI: 10.25142/aak.2017.003

UNIVERSITY SPIN-OFF COMPANIES IN EUROPE: THE FACTORS AND POLICIES INFLUENCING THEIR FORMATION

Ján Huňady1, Peter Pisár2
1 Univerzita Mateja Bela v Banskej Bystrici, Ekonomická fakulta, Tajovského 10, 975 90 Banská Bystrica, Email:jan.hunady@umb.sk
2 Univerzita Mateja Bela v Banskej Bystrici, Ekonomická fakulta, Tajovského 10, 975 90 Banská Bystrica, Email:peter.pisar@umb.sk

The formation of university-spin off is seen as a potential tool for the transfer of knowledge and technology. University spin-off firms are able to transform the knowledge accumulated in research into its practical application and commercialization. Despite this fact, the formation of university spin-off is still rather rare phenomenon in many European countries. In our paper, we provide several examples of good practice in central European countries. Moreover, the paper aims to examine factors that could potentially affect the formation of university spin-offs in European countries. We applied logit and probit regression analysis based on empirical data for 2465 universities in Europe retrieved from European Tertiary Education Register database. Our results suggest that those universities, which are neither focused on many different fields of study, nor highly specialized are less often involved in creating the university spin-off. Furthermore, intensity of PhD study, the share of tuition fees as well as a number of foreign students appears to be other factors affecting the probability of forming a university spin-off. Our results also bring several policy implications for tertiary education policy, which are summarized in the conclusion.

Keywords: central Europe, knowledge, spin-out, technology, university spin-off
JEL classification: I23, M13, O33

Received: November 25, 2016; Accepted: March 1, 2017; Published: March 30, 2017  Show citation

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Huňady J, Pisár P. UNIVERSITY SPIN-OFF COMPANIES IN EUROPE: THE FACTORS AND POLICIES INFLUENCING THEIR FORMATION. Acta academica karviniensia. 2017;17(1):28-40. doi: 10.25142/aak.2017.003.
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