Navigating the Path from Innovation to Commercialization: A Review of Technology-Based Academic Entrepreneurship

Abstract

Universities play a crucial role in initiating innovation. What needs to be clarified, however, is the pathway(s) innovation seminated from universities take to commercialization. This paper systematically reviews the areas that the literature has looked at and highlights the critical knowledge gaps. It parcels the literature into four main areas: (1) university technology transfer, (2) business-science faculty interface, (3) venture capital, and (4) complementary assets. The paper presents a new model of technology-based entrepreneurship and establishes a research agenda for technology-driven entrepreneurship to follow.