From research to revenue: the journey of University of Helsinki spin-off companies
Reigada Ocaña, Inés (2024)
2024
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Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:amk-2024112630274
https://urn.fi/URN:NBN:fi:amk-2024112630274
Tiivistelmä
The capacity to innovate is what make our species unique and our societies always dynamic and susceptible of improvement. Universities are the perfect hub for innovation, but unfortunately, academic creativity often leads only to theoretical achievements that lack practical applicability. Promoting the transformation of academic discoveries and innovations into tangible applications would significantly contribute to economic growth and societal development. However, to be able to encourage academic entrepreneurship, it would be essential to understand what are the key challenges and drivers that hinder or thrive this process.
This study aimed at exploring the factors that influence the commercialization of academic discoveries and innovations done at the University of Helsinki (UH). To do so, a dual approach was followed, where a review of UH and Finnish government support systems was done, alongside qualitative interviews with relevant stakeholders.
The findings revealed that promoters of this process include funding instruments offered by the Finnish government, support from UH’s Technology Transfer Offices, engagement with business advisors at early stages of the process and counting with motivated and trained human capital. On the other hand, many barriers were identified such as limited business knowledge of academics, complex bureaucratic requirements, lack of alignment with the market demand and decrease of UH support after commercialization. This gathered information was then used to develop a tailored strategy to improve this process. From the researchers’ perspective this included to enhance their business training and shift their purely academic mindset toward a more commercially driven one. From the university’s perspective, the strategy included integrating business training into UH’s academic programs, encouraging industry partnerships, and establishing post-spinout support systems. Lastly, from the governmental perspective, the Finnish government could play a crucial role by increasing funding flexibility, reducing administrative burdens, and introducing tax incentives for startups.
Overall, this study provides an overview of the current challenges and key drivers for the commercialization of academic innovation, offering a practical set of strategies to improve this process and strengthen Finland’s position in the global innovation landscape.
This study aimed at exploring the factors that influence the commercialization of academic discoveries and innovations done at the University of Helsinki (UH). To do so, a dual approach was followed, where a review of UH and Finnish government support systems was done, alongside qualitative interviews with relevant stakeholders.
The findings revealed that promoters of this process include funding instruments offered by the Finnish government, support from UH’s Technology Transfer Offices, engagement with business advisors at early stages of the process and counting with motivated and trained human capital. On the other hand, many barriers were identified such as limited business knowledge of academics, complex bureaucratic requirements, lack of alignment with the market demand and decrease of UH support after commercialization. This gathered information was then used to develop a tailored strategy to improve this process. From the researchers’ perspective this included to enhance their business training and shift their purely academic mindset toward a more commercially driven one. From the university’s perspective, the strategy included integrating business training into UH’s academic programs, encouraging industry partnerships, and establishing post-spinout support systems. Lastly, from the governmental perspective, the Finnish government could play a crucial role by increasing funding flexibility, reducing administrative burdens, and introducing tax incentives for startups.
Overall, this study provides an overview of the current challenges and key drivers for the commercialization of academic innovation, offering a practical set of strategies to improve this process and strengthen Finland’s position in the global innovation landscape.