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Universities and knowledge-based venturing: finance, management and networks in London

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  • Robert Huggins

Abstract

This paper examines university and higher education institution (HEI) involvement in regional knowledge commercialization processes, using London as a case study. It analyses the determinants of HEI knowledge commercialization, and the characteristics of HEIs and the sources of financial capital engaged in these commercialization processes. It is found that within London, a region with a high concentration of both HEIs and sources of financial capital, the lack of effective regional networks between HEIs and financial institutions makes the engagement of HEIs in regional knowledge commercialization activity problematic. It is further found that many of the resources associated with successful knowledge commercialization are skewed towards London's larger and more prestigious universities. Subsequently, the involvement of HEIs in London in knowledge-based venturing processes is significantly lower than that expected. This has resulted in the public sector taking a significant role in meeting HEI demand for seed finance. The findings oppose much existing literature, especially relating to regional innovation systems and clusters, which argues that core and strong economic regions usually possess effective and embedded knowledge networks of the kind analysed.

Suggested Citation

  • Robert Huggins, 2008. "Universities and knowledge-based venturing: finance, management and networks in London," Entrepreneurship & Regional Development, Taylor & Francis Journals, vol. 20(2), pages 185-206, March.
    • Handle: RePEc:taf:entreg:v:20:y:2008:i:2:p:185-206
    DOI: 10.1080/08985620701748342
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    Cited by:

    1. Emerson Mainardes & Mário Raposo & Helena Alves, 2014. "Universities Need a Market Orientation to Attract Non-Traditional Stakeholders as New Financing Sources," Public Organization Review, Springer, vol. 14(2), pages 159-171, June.
    2. Véronique Schaeffer & Mireille Matt, 2016. "Development of academic entrepreneurship in a non-mature context: the role of the university as a hub-organisation," Entrepreneurship & Regional Development, Taylor & Francis Journals, vol. 28(9-10), pages 724-745, October.
    3. Prokop, Daniel, 2021. "University entrepreneurial ecosystems and spinoff companies: Configurations, developments and outcomes," Technovation, Elsevier, vol. 107(C).
    4. Mike Wright, 2014. "Academic entrepreneurship, technology transfer and society: where next?," The Journal of Technology Transfer, Springer, vol. 39(3), pages 322-334, June.
    5. van Rijnsoever, Frank J., 2020. "Meeting, mating, and intermediating: How incubators can overcome weak network problems in entrepreneurial ecosystems," Research Policy, Elsevier, vol. 49(1).
    6. Tüzin Baycan & Roger Stough, 2013. "Bridging knowledge to commercialization: the good, the bad, and the challenging," The Annals of Regional Science, Springer;Western Regional Science Association, vol. 50(2), pages 367-405, April.
    7. Hervas Oliver,Jose Luis & Gonzalez,Gregorio & Caja,Pedro, 2014. "Clusters and industrial districts: where is the literature going? Identifying emerging sub-fields of research," INGENIO (CSIC-UPV) Working Paper Series 201409, INGENIO (CSIC-UPV).

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