Entry by research-based spin-offs: the determinants of regional variation

Abstract

Reflecting the increasing number of research based spin-offs (RBSOs) created since the nineties, previous studies focus their analysis on the factors that influence university entrepreneurship. However, empirical studies that investigate the determinants of variation on RBSO creation across regions are scarce. Using a unique self-collected dataset that comprehends the population of RBSOs created in Portugal from 1979 until to 2007 we investigate the intensity of spin-offs creation across regions, by focusing on the characteristics of the universities and the region in which the spin-off is located. Our results suggest that the quality and prestige of the universities located in a municipality, as well as the presence of university-affiliated incubators and/or university research parks have a positive impact on the intensity of RBSO creation. Regarding the regional characteristics, the availability of qualified human capital and the regional demand size seem to exert an important effect on spin-off activity across regions.