The economic impacts of academic spin-off companies, and their implications for public policy

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Rethinking the Commercialization of Public Science: From Entrepreneurial Outcomes to Societal Impacts (2018, background): “Because of research intensity and high uncertainty, university spin-offs may spend a decade or more before they take off and start growing (Lawton Smith & Ho, 2006) and long-term studies spanning several decades find remarkable economic and innovation impacts (Vincett, 2010; Wallmark & McQueen, 1991”
Institutional determinants of university spin-off quantity and quality: a longitudinal, multilevel, cross-country study (2016, background): “The creation of new ventures to commercialize university research is an example of potentially highgrowth firms that could have significant economic impact at national and regional levels (Garnsey and Heffernan 2005; Lawton Smith and Ho 2006; Vincett 2010).”
The development, growth, and performance of university spin-offs: a critical review (2019, background): “Studies analyzing portfolios of USOs (e.g., estimates of economic impact) were removed because they did not focus on individual firms (see e.g., Benneworth and Charles, 2005; Garnsey and Heffernan, 2005; Smith and Ho, 2006; Vincett, 2010).”