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Introduction: The Role of Universities in Society

In: Academic Spin-offs

Author

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  • Ziad El-Awad

    (Lund University)

Abstract

Universities have evolved over the centuries. Their contribution to society and the economy is no longer limited to teaching and research (Etzkowitz et al., 2000). Universities are assuming a third mission, aligning their research inventions and activities with societal demands and needs. Today, universities are contributing more than ever by disseminating their knowledge to various industries, and by creating a fertile environment that stimulates and supports the commercialization of research (Guerrero & Urbano, 2019). One mechanism for such commercialization to take place is the creation of academic spinoffs (ASOs)-i.e., ventures founded and managed by university scientists. In recent years, policymakers and practitioners are prioritizing universities’ role in society believing in their contribution to innovation, job creation and economic growth. Therefore, we see many premier universities around the world putting together institutional arrangements such as incubators, technology transfer offices (TTOs), and seed funds to create the basis to support the development and growth of academic spinoffs. Typically, universities are playing a key role in providing access to various tangible (e.g., funding, facilities, labs, machinery) and intangible resources (human expertise, R&D), and generating knowledge spillovers through facilitating interaction with other companies and/or support actors.

Suggested Citation

  • Ziad El-Awad, 2023. "Introduction: The Role of Universities in Society," Springer Books, in: Academic Spin-offs, chapter 1, pages 1-20, Springer.
    • Handle: RePEc:spr:sprchp:978-3-031-22284-9_1
    DOI: 10.1007/978-3-031-22284-9_1
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