The importance of financial resources and ownership of intellectual property rights for university spin-offs: the cases of Finland and Sweden

Ignat Kulkov*, Björn Berggren, Kent Eriksson, Magnus Hellström, Kim Wikstrom

*Corresponding author for this work

Research output: Contribution to journalArticleScientificpeer-review

Abstract

Purpose: This paper focuses on medical device university spin-offs (USOs), taking into account the peculiarities of financial and nonfinancial support and intellectual property rights (IPRs). The authors declare that these parameters play a significant role in business development at the early stages. Design/methodology/approach: This empirical data consist of individual and group interviews in Finland and Sweden, which are later inductively analyzed. Findings: The results show that public financial support contributes to the formation and start of sales stages in small countries and local markets. However, at the validation stage, approaches for supporting entrepreneurship in the field of medical devices may differ. The ownership of IPRs assists in the development of entrepreneurship in the region due to the transfer of research results and researchers to the industry and increases the number of spin-offs and the cooperation of universities with business. Originality/value: This contribution is in the identification of the key parameters for the formation, support and development of the USOs from the point of view of the availability of financial resources and the ownership of IPRs.

Original languageEnglish
Pages (from-to)1125-1147
Number of pages23
JournalJournal of Small Business and Enterprise Development
Volume27
Issue number7
DOIs
Publication statusPublished - 15 Oct 2020
MoE publication typeA1 Journal article-refereed

Keywords

  • Financial resources
  • Finland
  • Intellectual property rights
  • Medical device
  • Sweden
  • University spin-off

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