How can university technology holding companies bridge the Valley of Death? Evidence from Korea.

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Date: Jan. 2022
From: Technovation(Vol. 109)
Publisher: Elsevier Science Publishers
Document Type: Report; Brief article
Length: 339 words

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Abstract :

Keywords Technology holding company; Valley of death; Technology commercialisation; University incubation; Spin-off Highlights * This paper addresses how a technology holding company (THC) affects university inventions crossing the Valley of Death. * The THC decreases incubation efficiencies of universities in the invention stage by playing the role of a gatekeeper. * The THC increases incubation efficiencies of universities in the commercialisation stage by playing the role of a sponsor. * The different roles of the THC at each stage positively affect university inventions crossing the Valley of Death. Abstract This paper addresses how a technology holding company (THC) affects university inventions crossing the Valley of Death (VoD). A THC, which is a new incubation model, is a specialised organisation for establishing spin-offs as subsidiaries and commercialising university inventions. This study verifies the effects of THCs on the incubation productivity of universities by conducting a propensity-score matching and two-stage data envelopment analysis. The results show that, in the university group with high entrepreneurial orientation, universities with a THC are less productive in the invention stage but more productive in the commercialisation stage than universities without a THC. This demonstrates that THCs decrease productivity in the invention stage by playing the role of a gatekeeper but, in the commercialisation stage, increase productivity by playing the role of a sponsor. In addition, this study finds that the effects of a THC are more significant in universities with high entrepreneurial orientation than in universities with low entrepreneurial orientation. This paper shows that a THC positively affects university spin-offs crossing the VoD by playing different roles in the invention and commercialisation stages. Author Affiliation: (a) Department of Big Data and AI, College of AI Convergence, Hoseo university, 20, Hoseo-ro79beon-gil, Baebang-eup, Asan-si, Chungcheongnam-do, Republic of Korea (b) School of Business and Technology Management, College of Business, KAIST, Gwahak-ro 335, Yuseong-gu, Daejeon, 34141, Republic of Korea * Corresponding author. Article History: Received 10 August 2018; Revised 26 May 2020; Accepted 24 June 2020 Byline: Hosung Son [hs_son@kaist.ac.kr] (a), Yanghon Chung [coach@kaist.ac.kr] (b), Sangpil Yoon [etona@kaist.ac.kr] (b,*)

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Gale Document Number: GALE|A684964838