A framework to foster innovation-driven enterprises creation in the university: the case of the Monterrey region in Mexico.

Abstract

Emerging countries face a series of challenges on their agenda, one of them being the socio-economic development of their region. One well-known way to create a competitive economy is by introducing innovative technologies, products, or services. Entrepreneurship can be classified into small and medium enterprises and innovation-driven enterprises (IDE). Both types of entrepreneurship are required for an economy; however, the second leads to high-quality job creation and economic prosperity. Three main actors can boost IDE's creation by looking at the triple helix model: industry, government, and the university. In this research, the university plays the leading role in promoting the creation of these companies due to a transformation towards the entrepreneurial university where teaching and research are not the sole objectives. Conceiving a new company by transferring technology from an academic institution is known as a university spin-off. Notwithstanding, this practice has not been studied in emerging countries. Therefore, this research focuses on shedding some light on how the entrepreneurial university can foster the creation of these companies. The steps in this process were (i) identifying the significant elements for the creation of university spin-offs with a literature review and a validation of the elements with the Fuzzy Delphi method, (ii) modeling the current process of spin-off creation in two universities in the Monterrey region using the Total Interpretive Structural Modeling tool, (iii) and identifying the current and potentials drivers of the system employing the MICMAC method. Consequently, a framework was obtained outlining seven key points to support university decision-makers in fostering the creation of these companies. The results show ten significant elements for creating university spin-offs. Subsequently, the following recommendations were obtained by analyzing how these elements interacted in two universities in the Monterrey region and identifying their current and future influence on the system. The findings show that focusing on adding the innovation dimension to the entrepreneurial vision of the university and creating specific policies regarding innovation-driven enterprises were the initial aspects that decision-makers should consider. Subsequently, planning a process for accessing profit-seeking capital and engaging the university's applied research capacity was critical. Next, improve the support mechanisms for spin-offs without overlooking the fact that they depend on the previous elements, followed by working to close the gap in the culture regarding the commercialization of technology. Lastly, do not ignore the strategic management, and that regional context can be a support during this process.