Effects of University Research Exposure on Young Company Behavior and Performance

  • Yannis Caloghirou
  • Aimilia Protogerou
  • Nicholas S. Vonortas
Part of the Science, Technology and Innovation Studies book series (STAIS)


The number of university graduates is continuously raising for many years creating an additional supply of highly qualified labor which doesn’t always meet respective demand thus can’t be absorbed fully. This holds especially true for Ph.Ds of which ever more are entering the labor market although the number of academic positions remains stable and also businesses have limited capacities for Ph.Ds. What follows is that entrepreneurial activities become a serious option for tertiary graduates. Namely Ph.D. graduates engaged in establishing companies by means of using state of the art scientific knowledge which they developed at universities thus generating substantial impact of university produced knowledge on the economy and the broader society. Specifically the cognitive base and the founders’ educational background is an important determinant for the success and impact of knowledge-intensive entrepreneurship in general and academic entrepreneurship in particular. The chapter introduces a broader definition of academic entrepreneurship and investigates whether new ventures founded by Ph.D. holders exhibit different characteristics and/or different behavior patterns compared to the rest of the firms established in the same period in Europe.


Knowledge transfer Spin off companies Entrepreneurship 



The authors acknowledge financial support in the context of “Advancing Knowledge-Intensive Entrepreneurship and Innovation for Economic Growth and Social Well-being in Europe” (AEGIS), a project co-funded by the European Commission under Theme 8 ‘Socio- Economic Sciences and Humanities’ of the 7th Framework Programme. Moreover, Nick Vonortas acknowledges the infrastructural support of the Center for International Science and Technology Policy (CISTP) at the George Washington University, USA. He acknowledges the support of FAPESP through the São Paulo Excellence Chair in technology and innovation policy at the University of Campinas (UNICAMP), Brazil. He also acknowledges support from the Basic Research Program at the National Research University Higher School of Economics (HSE) and support within the framework of a subsidy by the Russian Academic Excellence Project ‘5-100’.


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Copyright information

© Springer International Publishing AG, part of Springer Nature 2018

Authors and Affiliations

  • Yannis Caloghirou
    • 1
  • Aimilia Protogerou
    • 1
  • Nicholas S. Vonortas
    • 2
    • 3
    • 4
  1. 1.Laboratory of Industrial and Energy EconomicsNational Technical University of AthensAthensGreece
  2. 2.Center for International Science and Technology Policy & Department of EconomicsThe George Washington UniversityWashington, DCUSA
  3. 3.São Paulo Excellence ChairUniversity of Campinas (UNICAMP)São PauloBrazil
  4. 4.Leading Research FellowNational Research University Higher School of Economics (HSE)MoscowRussian Federation

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