Performance of university spin-off firms in commercialization of medical technology

Book chapter (2018)

Authors

M. Taheri Economics of Technology and Innovation - TPM
M.S. van Geenhuizen Economics of Technology and Innovation - TPM
Research Group
Economics of Technology and Innovation (TPM) (TU Delft)
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Published Date

2018

Language

English

Reuse Rights

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Faculty

Technology, Policy and Management

Department

Values Technology and Innovation

Research Group

Economics of Technology and Innovation

Abstract

This chapter investigates the extent to which university spin-off firms in new medical technology reach the market and create job growth, for example, in support in care-providing, minimally invasive surgery, tissue engineering (organs), and information and communications technology (ICT)-supported diagnosis. The study draws on a small selective sample and employs rough-set analysis to identify preliminary causal patterns. One of the strongest influences seems the subsector indicating diversity in technical complexity (risk) and regulation (testing and approval), while management experience and access to venture capital also have a role. Furthermore, drawing on in-depth case study analysis, the preliminary conclusion is drawn that spin-offs in complex and risk-taking fields are able to survive in close research collaboration with the ‘mother’ university and/or academic hospital, and through this link, with universities and hospitals in global networks. Others that lack such relationship tend to be much more vulnerable, particularly due to healthcare budget constraints and firm-specific lack of management experience.