University patent holders as entrepreneurs: factors that influence spinout activity

Abstract

University patent holders have been encouraged to use their inventions to start technology firms. This has been touted as a major contributor to economic development, value creation, and spillovers. It is theoretically and practically important to understand the antecedents to this activity. In this study, we examine Australian Public Research Organizations (PRO) patent holders and use entrepreneurial attitudes, economic personal situations, as well as the environment in which the patent holders operate to understand the differences between those who chose to follow an entrepreneurial path and those who do not. Using binary logistic regression analysis, we find statistically significant differences between entrepreneur inventors (EIs) and non-entrepreneur inventors (NEIs) across variables that operationalize these frameworks. We also find that attitudes moderate the effect of the personal and macroeconomic situational perceptions, even when the independent effect of the individual variables is not significant. Theory and practice should therefore take a holistic approach in order to unleash the strong synergies across otherwise insignificant factors.