Incubators as enablers for academic entrepreneurship

The key questions that academics are struggling with are: can one teach entrepreneurship and how can it be embedded into a science, technology or engineering curriculum while maintaining high academic standards. Furthermore, prior research has pointed to a mismatch between the competencies of the highest educated and most specialised students of our academic system and the expectations of the (corporate) market (Anseel, 2012; De Grande, De Boyser, Vandevelde et al, 2011). Therefore, this paper investigates the opportunities offered by 'learning-by-doing' in an ecosystem perspective. The organisation iMinds somehow acts as network integrator for research and entrepreneurship in ICT in Flanders. In this role, iMinds collaborates with universities and university colleges and other actors in the ecosystem supporting entrepreneurship. The various mechanisms deployed to support entrepreneurship and the development of entrepreneurial skills amongst (under) graduate students are analysed. These include extra-curricular activities (workshop and coaching series). Additionally, these activities are embedded in and intertwined with the development of entrepreneurial behaviour and skills in the classical curriculum using new learning methods. Some examples can be found at Karel de Grote University College (the so-called 'The Company' minor) and at Ghent University ('student-entrepreneur' status). The enabler to drive this evolution forward is the inclusion of incubators as part of the learning system. Students that want to start a business can spend 2 years on an MBA or join an incubator; the latter generally being accepted as a faster and more effective way of learning. Results can be seen at three levels. Firstly, it results in an increased awareness of entrepreneurship as viable career opportunity. Secondly, these programs increase the number of student start-ups, which additionally are better equipped to grow and prosper. Since the program's start in 2011, iMinds has received eight applications for student start-ups and has supported four. Furthermore, about 25 students have made use of the (physical) incubator space. Thirdly, this ecosystem approach results in an increased cooperation between universities (e.g., at the level of doctoral schools) and with other network actors, leading to spillover effects and more effective use of proceeds. The universities of the future will intertwine academic education with entrepreneurship. The end goal should not be that all students become entrepreneurs, but the development of entrepreneurial skills will be beneficial to all stakeholders. This requires collaboration with these stakeholders in the ecosystem, including incubators as further enablers of entrepreneurial behaviour

Kinetic profiling of novel spirobenzo-oxazinepiperidinone derivatives as equilibrative nucleoside transporter 1 inhibitors

Evaluation of kinetic parameters of drug-target binding, kon, koff, and residence time (RT), in addition to the traditional in vitro parameter of affinity is receiving increasing attention in the early stages of drug discovery. Target binding kinetics emerges as a meaningful concept for the evaluation of a ligand's duration of action and more generally drug efficacy and safety. We report the biological evaluation of a novel series of spirobenzo-oxazinepiperidinone derivatives as inhibitors of the human equilibrative nucleoside transporter 1 (hENT1, SLC29A1). The compounds were evaluated in radioligand binding experiments, i.e., displacement, competition association, and washout assays, to evaluate their affinity and binding kinetic parameters. We also linked these pharmacological parameters to the compounds' chemical characteristics, and learned that separate moieties of the molecules governed target affinity and binding kinetics. Among the 29 compounds tested, 28 stood out with high affinity and a long residence time of 87 min. These findings reveal the importance of supplementing affinity data with binding kinetics at transport proteins such as hENT1.Medicinal Chemistr

Wages in high-tech start-ups - do academic spin-offs pay a wage premium?

Due to their origin from universities, academic spin‐offs operate at the forefront of the technological development. Therefore, spin‐offs exhibit a skill‐biased labour demand, i.e. spin‐offs have a high demand for employees with cutting edge knowledge and technical skills. In order to accommodate this demand, spin‐offs may have to pay a relative wage premium compared to other high‐tech start‐ups. However, neither a comprehensive theoretical assessment nor the empirical literature on wages in start‐ups unambiguously predicts the existence and the direction of wage differentials between spin‐offs and non‐spin‐offs. This paper addresses this research gap and examines empirically whether or not spin‐offs pay their employees a wage premium. Using a unique linked employer‐employee data set of German high‐tech start‐ups, we estimate Mincer‐type wage regressions applying the Hausman‐Taylor panel estimator. Our results show that spin‐offs do not pay a wage premium in general. However, a notable exception from this general result is that spin‐offs that commercialise new scientific results or methods provide higher wages to employees with linkages to the university sector – either as university graduates or as student workers

Rowing against the wind: how do times of austerity shape academic entrepreneurship in unfriendly environments?

[EN] Academic spin-offs (ASOs) help universities transfer knowledge or technology through business projects developed by academic staff. This investigation aims at analyzing the critical factors for spin-off creation at universities operating in crisis-raven, entrepreneurship-unfriendly environments. Such factors revolve around four types of resources: environmental, institutional, organizational, and personal. Focusing on a Southern European context, as an example of an unfriendly environment affected by economic crisis, an entrepreneurial university (the Technical University of Valencia in Spain, UPV) is our research setting. Through a case study approach, we examine the potential of UPV as a springboard for ASOs. Our results show an adverse local environment, a rather favorable influence of institutional and organizational drivers, and a mixed role of personal factors. Our findings illustrate that UPV consistently supports spin-off creation due to a greater (rather positive) reflexivity from its institutional, organizational and personal resources than the (negative) imprinting of the unfriendly environment. This helps counter-balance the structural unfriendliness for academic entrepreneurship, and trigger a crisis-led risk-taking attitude by academic staff. Hence, UPV should continue with its current strategy of supporting academic entrepreneurship, and might transfer best practices to other universities also affected by unfavorable environmental conditions. Generally speaking, we would advise universities facing adverse circumstances to develop rules and mechanisms for academic entrepreneurship, carefully revise and improve malfunctions, and become involved throughout the whole process of spin-off development. All in all, our study advances understanding of how the different drivers for ASO creation can be revamped by universities located in unfriendly environments, having in mind the key role that universities play in fostering social and economic development through academic entrepreneurship in such environments.The authors would like to thank the Universitat Politecnica de Valencia (grant PAID-06-12-0916), and the Spanish Ministry of Economy and Competitiveness (grant ECO2011-29863), for their financial support for this research.Seguí-Mas, E.; Oltra, V.; Tormo-Carbó, G.; Sarrión Viñes, F. (2017). Rowing against the wind: how do times of austerity shape academic entrepreneurship in unfriendly environments?. International Entrepreneurship and Management Journal. 1-42. doi:10.1007/s11365-017-0478-zS142Acs, Z. J., Audretsch, D. B., & Lehmann, E. E. (2013). The knowledge spillover theory of entrepreneurship. Small Business Economics, 41, 757–774.Alemany, L. (2011). Libro blanco de la iniciativa emprendedora en España. Resource document. ISEAD. http://idl.isead.edu.es:8080/jspui/bitstream/123456789/859/1/658ALElib.pdf . Accessed 31 October 2015.Algieri, B., Aquino, A., & Succurro, M. (2013). Technology transfer offices and academic spin-off creation: the case of Italy. Journal of Technology Transfer, 38(4), 382–400.ARWU (2017). Academic Ranking of World Universities 2017. Resource document. http://www.shanghairanking.com/ARWU2017.html . Accesed 15 August 2017.Ashcroft, B., Holden, D., & Low, K. (2004). Potential entrepreneurs and the self employment choice decision. In Strathclyde Discussion papers in Economics, 4–16. Glasglow: University of Strathclyde.Autio, E., & Kauranen, I. (1994). Technologist-entrepreneurs versus nonentrepreneurial technologists: Analysis of motivational triggering factors. Entrepreneurship & Regional Development, 6, 315–328.Autio, E., Kenney, M., Mustar, P., Siegel, D., & Wright, M. (2014). Entrepreneurial innovation: The importance of context. Research Policy, 43, 1097–1108.Bonnacorsi, A., Colombo, M. G., Guerini, M., & Rossi-Lamastra, C. (2013). University specialization and new firm creation across industries. Small Business Economics, 41, 837–863.Bruneel, J., Van de Velde, E., & Clarysse, B. (2013). Impact of the type of corporate spin-off on growth. Entrepreneurship Theory and Practice, 37, 943–959.CampusHabitat5U (2017). International Campus of Excellence. Resource document. UPV. http://campushabitat5u.es/?lang=en . Accessed 5 October 2017.Chiesa, V., & Piccaluga, A. (2000). Exploitation and diffusion of public research: The chase of academic spin-offs companies in Italy. R&D Management, 30, 329–339.Clark, B. R. (1998). Creating entrepreneurial universities: Organizational pathways of transformation. New York: IAU Press.Clarysse, B., & Moray, N. (2004). A process study of entrepreneurial team formation: The case of research-based spin-off. Journal of Business Venturing, 19, 55–79.Cohen, M., Nelson, R., & Walsh, J. (2002). Links and impacts: The influence of public research on industrial R&D. Management Science, 48, 1–23.Creswell, J.W. & Clark, V. (2011). Designing and Conducting Mixed Methods Research. SAGE Publications.De Cleyn, S. H., Braet, J., & Klofsten, M. (2015). How human capital interacts with the early development of academic spin-offs. International Entrepreneurship and Management Journal, 11(3), 599–621.Doutriaux, J., & Peterman, D. (1982). Technology transfer and academic entrepreneurship. Babson Park: Frontiers of Entrepreneurship Research, Babson College Entrepreneurship Research Conference (BCERC).Eisenhardt, K. M. (1989). Building Theories from Case Study Research. Academy of Management Review, 14(4), 532–550.European Commission (2017). Erasmus 2013–14. Top 500 higher education institutions receiving Erasmus students. Resource document. EC. http://ec.europa.eu/dgs/education_culture/repository/education/library/statistics/2014/erasmus-receiving-institutions_en.pdf Accessed 5 October 2017.Eurovoc (2017). Mutilingual Thesaurus of the European Union. Resource document. http://eurovoc.europa.eu Accessed 03 February 2017.Franzoni, C. & Lissoni, F. (2006). Academic entrepreneurship, patents and spinoffs: Critical issues and lessons for Europe. CESPRI, Università Commerciale “Luigi Bocconi”. Working Paper No. 80.Fritsch, M., & Aamoucke, R. (2013). Regional public research, higher education, and innovative start-ups: An empirical investigation. Small Business Economics, 41, 865–885.Gartner, W. B. (1985). A conceptual framework for describing the phenomenon of new venture creation. The Academy of Management Review, 10, 696–706.Gartner, W. B. (1988). Who is an entrepreneur? is the wrong question. American Journal of Small Business, 12, 11–32.Geuna, A., & Nesta, L. J. J. (2006). University Patenting and its Effects on Academic Research: The merging European Evidence. Research Policy, 35, 790–807.Gibbert, M., & Ruigrok, W. (2010). The “What” and “How” of the case Study Rigor: Three Strategies based on Published Work. Organizational Research Methods, 13(4), 710–737.Gómez Gras, J. M., Galiana Lapera, D. R., Mira Solves, I., Verdú Jover, A. J., & Sancho Azuar, J. (2008). An empirical approach to the organisational determinants of spin-off creation in European universities. International Entrepreneurship and Management Journal, 4(2), 187–198.Grandi, A., & Grimaldi, R. (2005). Academics' organizational characteristics and the generation of successful business ideas. Journal of Business Venturing, 20(6), 821–845.Güemes, J.J. (2011), “Global Entrepreneurship Monitor. Informe GEM España 2010”. Resource document. GEM España. http://www.gemconsortium.org/docs/download/616. Accessed 15 January 2015 .Guerrero, M., & Urbano, D. (2012). The development of an entrepreneurial university. Journal of Technology Transfer, 37(1), 43–74.Guerrero, M., Urbano, D., Cunningham, J., & Organ, D. (2014). Entrepreneurial universities in two European regions: a case study comparison. Journal of Technology Transfer, 39(3), 415–434.Hoang, H., & Antoncic, B. (2003). Network-based research in entrepreneurship: A critical review. Journal of Business Venturing, 18(2), 165–187.Hofstede, G. (1980). Culture’s Consequences. International differences in work-related values. Beverly Hills: Sage.Hofstede, G. (2001). Culture’s consequences: Comparing values, behaviours, institutions, and organizations across nations (2nd ed.). Thousand Oaks: Sage.Hülsbeck, M., & Pickavé, E. N. (2014). Regional knowledge production as determinant of high-technology entrepreneurship: Empirical evidence for Germany. International Entrepreneurship and Management Journal, 10, 121–138.INE (2016). INEbase: Operaciones estadísticas. Instituto Nacional de Estadística (National [Spanish] Statistical Institute). Resource document. INE. http://www.ine.es/inebmenu/indice.htm . Accessed 2 July 2016.Kalar, B., & Antoncic, B. (2015). The entrepreneurial university, academic activities and technology and knowledge transfer in four European countries. Technovation, 36-37, 1–11.Kroll, H. (2009). Demonstrating the instrumentality of motivation oriented approaches for the explanation of academic spin-off formation—an application based on the Chinese case. International Entrepreneurship and Management Journal, 5, 97–116.LAEI (2013). Ley 14/2013, de 27 de septiembre, de Apoyo a Emprendedores y su Internacionalización (‘Act of Support to Entrepreneurs and their Internationalization’). Government of Spain, 27 September. Resource document: http://www.boe.es/boe/dias/2013/09/28/pdfs/BOE-A-2013-10074.pdf . Accessed 10 March 2016.Lam, A., & De Campos, A. (2015). Content to be sad’ or ‘runaway apprentice’? The psychological contract and career agency of young scientists in the entrepreneurial university. Human Relations, 68(5), 811–841.LCTI (2011). Ley 14/2011, de 1 de junio, de la Ciencia, la Tecnología y la Innovación (‘Science, Technology and Innovation Act’). Government of Spain, 1 June. Resource document: http://www.boe.es/boe/dias/2011/06/02/pdfs/BOE-A-2011-9617.pdf . Accessed 10 March 2016.León-Darder, F. (2016). La internacionalització de l’empresa valenciana. In E. Seguí-Mas (Ed.), Una nova via per a l’empresa valenciana (pp. 61–80). Catarroja: Editorial Afers & Fundació Nexe.LES (2011). Ley 2/2011, de 4 de marzo, de Economía Sostenible (‘Sustainable Economy Act’). Government of Spain, 4 March, Resource document. http://www.boe.es/boe/dias/2011/03/05/pdfs/BOE-A-2011-4117.pdf. Accessed 10 March 2016 .Leyden, D. P., & Link, A. N. (2013). Knowledge spillovers, collective entrepreneurship, and economic growth: The role of universities. Small Business Economics, 41, 797–817.Lindelöf, P., & Löfsten, H. (2006). Environmental hostility and firm behavior – An empirical examination of new technology-based firms on science parks. Journal of Small Business Management, 44(3), 386–406.Link, N., & Scott, T. (2005). Opening the ivory’s tower door: An analysis of the determinants of the formation of US university spin-off companies. Research Policy, 34, 1106–1112.Lockett, A., & Wright, M. (2005). Resources, capabilities, risk capital and the creation of university spin-out companies. Research Policy, 34, 1043–1057.LOMLOU (2007). Ley Orgánica 4/2007, de 12 de abril, por la que se modifica la Ley Orgánica 6/2011, de 21 de diciembre, de Universidades (‘Act of Modification of the University Act’). Government of Spain, 12 April. Resource document. https://www.boe.es/boe/dias/2007/04/13/pdfs/A16241-16260.pdf (accessed 11 March 2016).LOU (2001). Ley Orgánica 6/2001, de Universidades (‘University Act’). Government of Spain, 21 December. Resource document: https://www.boe.es/boe/dias/2001/12/24/pdfs/A49400-49425.pdf . Accessed 11 March 2016.Martinelli, A., Meyer, M., & Von Tunzelmann, N. (2008). Becoming an entrepreneurial university? A case study of knowledge exchange relationships and faculty attitudes in a medium-sized, research-oriented university. Journal of Technology Transfer, 33, 259–283.Martínez Carrascal, C. & Mulino Ríos, M. (2014). La evolución del crédito bancario a las empresas españolas según su tamaño. Un análisis basado en la explotación conjunta de la información de la CIR y de la CBI, Boletín Económico - Banco de España, Enero (January), pp. 117–125.Mathias, B. D., Williams, D. W., & Smith, A. R. (2015). Entrepreneurial inception: The role of imprinting in entrepreneurial action. Journal of Business Venturing, 30(1), 11–28.MIET (Spanish Ministry of Industry, Energy and Tourism) (2012). Estadísticas Pyme. Evolución e indicadores. No. 10″, Resource document. http://www.ipyme.org/Publicaciones/ESTADISTICAS_PYME_N10_2011.pdf. Accessed 2 May 2016 .Miles, M.B. & Huberman, A.M. (2008). Qualitative Data Analysis: an expanded sourcebook. Sage Publications.Morales-Gualdrón, S. Y., Gutiérrez-Gracias, & Roig Dobón, S. (2009). The entrepreneurial motivation in academia: A multidimensional construct. International Entrepreneurship and Management Journal, 6, 301–317.Mosey, S., & Wright, M. (2007). From human capital to social capital: A longitudinal study of technology-based academic entrepreneurs. Entrepreneur, 31, 909–936.Mosey, S., Lockett, A., & Westhead, P. (2006). Creating network bridges for university technology transfer: The Medici fellowship programme. Technology Analysis and Strategic Management, 18, 71–91.Mosey, S., Wright, M., & Clarysse, B. (2012a). Transforming traditional university structures for the knowledge economy through multidisciplinary institutes. Cambridge Journal of Economics, 36, 587–607.Mosey, S., Noke, H., & Binks, M. (2012b). The influence of human and social capital upon the entrepreneurial intentions and destinations of academics. Technology Analysis and Strategic Management, 24, 893–910.Moutinho, R., Au-Yong-Oliveira, M., Coelho, A., & Manso, J. P. (2016). Determinants of knowledge-based entrepreneurship: an exploratory approach. International Entrepreneurship and Management Journal, 12(1), 171–197.Mowery, D. C., Nelson, R. R., Sampat, B. N., & Ziedonis, A. A. (2001a). The growth of patenting and licensing by US universities: an assessment of the effects of Bayle-Dole Act of 1980. Research Policy, 30(1), 99–119.Mowery, D. C., Sampat, B. N., & Ziedonis, A. A. (2001b). Learning to patent: institutional experience, learning, and the characyeristics of US university Patents after the Bayle-Dole Act, 1981-1992. Management Science, 48(1), 73–89.O’Shea, R., Allen, J., Chevalier, A., & Roche, F. (2005). Entrepreneurial orientation, technology transfer and spinoff performance of US universities. Research Policy, 34, 994–1009.O’Shea, R., Allen, T., Morse, K., O’Gorman, C., & Roche, F. (2007). Delineating the anatomy of an entrepreneurial university: the Massachusetts Institute of Technology Experience. R&D Management, 37(1), 1–16.O’Shea, R., Chugh, H., & Allen, T. (2008). Determinants and consequences of university spinoff activity: A conceptual framework. Journal of Technology Transfer, 33, 653–666.Ortín, P., Salas, V., Trujillo, M.V., & Vendrell, F. (2007). El spin-off universitario en España como modelo de creación de empresas intensivas en tecnología. Ministerio de Industria, Turismo y Comercio. Secretaría General de Industria. Dirección General de Política de la Pyme. Resource document. http://www.ipyme.org/Publicaciones/Informe spinnoff.pdf . Accessed 2 October 2016.Papaoikonomou, E., Segarra, P., & Li, X. (2012). Entrepreneurship in the context of crisis: Identifying barriers and proposing strategies. International Advances in Economic Research, 18, 111–119.Piperopoulos, P., & Piperopoulos, G. (2010). Is Greece finally on the right path toward entrepreneurship, innovation, and business clusters? International Journal of Public Administration, 33(1), 55–59.Powers, B., & McDougall, P. (2005). University startup formation and technology licensing with firms that go public: A resource-based view of academic entrepreneurship. Journal of Business Venturing, 20, 291–311.Red OTRI (2016). Informe de la Encuesta de Investigación y Transferencia 2014 de las universidades españolas. Resource document. http://www.redotriuniversidades.net/index.php/informa-encuesta/6-encuesta-redotri/informa-encuesta-2014/download . Accessed 22 June 2016.Redero San-Román, M. (2002). Origen y desarrollo de la universidad franquista. Studia Zamorensia, 6, 337–352.Rodríguez-Gulías, M. J., Rodeiro-Pazos, D., & Fernández-López, S. (2017). The effect of university and regional knowledge spillovers on firms’ performance: an analysis of the Spanish USOs. International Entrepreneurship and Management Journal, 13(1), 191–209.Rodríguez-San Pedro, L.E. (2014). Las universidades españolas en su contexto historic. Resource document. Universia. http://universidades.universia.es/universidades-de-pais/historia-de-universidades/historia-universidad-espanola/pasado-reciente/pasado-reciente-multiplicidad-regimen-autonomico.html . Accessed 28 July 2015.Samsom, K., & Gurdon, M. (1990). Entrepreneurial scientist: Organizational performance in scientist-started high technology firms. Forest Park: Frontiers of Entrepreneurship Research, Babson College Entrepreneurship Research Conference (BCERC).Schmitz, A., Urbano, D., Dandolini, G. A., de Souza, J. A., & Guerrero, M. (2017). Innovation and entrepreneurship in the academic setting: A systematic literature review. International Entrepreneurship and Management Journal, 13(2), 369–395.Shane, S., & Khurana, R. (2003). Bringing individuals back in: The effects of career experience on new firm founding. Industrial and Corporate Change, 12, 519–543.Shapero, A., & Sokol, L. (1982). The social dimensions of entrepreneurship. In C. A. Kent, D. L. Sexton, & K. H. Vesper (Eds.), Encyclopaedia of entrepreneurship (pp. 72–90). Englewood Cliffs: Prentice Hall.Smilor, R. W., Gibson, D. V., & Dietrich, G. B. (1990). University spin-out companies: technology start-ups from UT-Austin. Journal of Business Venturing, 5(1), 63–76.Soler i Marco, V. (2009). Creixement i canvi estructural. In V. Soler (Ed.), Economia espanyola i del País Valencià. Valencia: Publicacions de la Universitat de València.Suddaby, R., Bruton, G. D., & Si, S. X. (2015). Entrepreneurship through a qualitative lens: Insights on the construction and/or discovery of entrepreneurial opportunity. Journal of Business Venturing, 30(1), 1–10.Tech Transfer UPV FCR (2016). Air Nostrum, Caixa Popular e IVI entran en el fondo de la UPV. Resource document. TTUPV FCR. http://www.techtransferupv.com/noticias/air-nostrum-caixa-popular-e-ivi-entran-en-el-fondo-de-la-upv/ (4 April) Accessed 10 July 2016.The Times Higher Education (2017). 100 Under 50 Ranking 2017. Resource document. THE. https://www.timeshighereducation.com/world-university-rankings/2017/young-university-rankings#!/page/0/length/-1/sort_by/rank/sort_order/asc/cols/stats . Accessed 15 august 2017.UPV (2007). Instituto IDEAS 15 aniversario (1992–2007). Resource document. UPV. http://www.upv.es/entidades/IDEAS/menu_urlv.html?http://www.upv.es/entidades/IDEAS/info/memoria15a%F1os.pdf . Accessed 10 April 2016.UPV (2011). Corporación empresarial. Resource document. UPV. http://www.upv.es/noticias-upv/noticia-4904-corporacion-emp-es.html . Accessed 10 April 2016.UPV (2014). Plan de emprendimiento global. Resource document. UPV. https://www.upv.es/noticias-upv/noticia-6846-plan-de-emprend-es.html . Accessed 10 April 2016.UPV (2015). Jornadas de Puertas Abiertas 2015–16. Resource document. UPV. www.upv.es/contenidos/ORIENTA/info/jpa_ciclos_2015-16.ppt . Accessed 10 April 2016.UPV (2017a). Spin-Off UPV. Resource document. UPV. http://www.upv.es/entidades/I2T/info/891434normalc.html . Accessed 5 October 2017.UPV (2017b). Ciudad Politécnica de la Innovación. Parque Científico en Red de la Universidad Politécnica de Valencia. Quienes Somos. Presentación. Resource document. UPV. http://cpi.upv.es/quienes-somos/presentacion . Accessed 5 October 2017.UPV (2017c). Servicio de Promoción y Apoyo a la Investigación, la Innovación y la Transferencia. Presentación. Resource document. UPV. http://i2t.webs.upv.es/i2t/presentacion.php. Accessed 5 October 2017 .UPV. (2017d). Tech Transfer UPV. UPV: Resource document http://www.upv.es/noticias-upv/noticia-8355-tech-transfer-u-es.html. Accessed 5 October 2017 .UPV (2017e). Mission statement, vision and values. Resource document. UPV. https://www.upv.es/organizacion/la-institucion/misionvisionvalores-plan-upv-en.html Accessed 17 October 2017.Vargas Vasserot, C. (2012). Las spin-offs académicas y su posible configuración como empresas de economía social. REVESCO. Revista de Estudios Cooperativos, 107, 186–205.VLC/Campus (2017). VLC/Campus. Valencia, International Campus of Excellence. Resource document. UPV. http://www.vlc-campus.com/en . Accessed 5 October 2017.Walter, A., Auer, M., & Ritter, T. (2006). The impact of network capabilities and entrepreneurial orientation on university spin-off performance. Journal of Business Venturing, 21(4), 541–567.Weatherston, J. (1995). Academic Entrepreneurs: Is a spin-off Company too risky. Proceedings of the 40th International Council on Small Business, Sydney, 18–21.Willoughby, M., Talon, J., Millet, J., & Ayats, C. (2013). University services for fostering creativity in hi-tech firms. The Service Industries Journal, 33, 1103–1116.Wright, M., & Mosey, S. (2012). Strategic entrepreneurship, resource orchestration and growing spin-offs from universities. Technology Analysis and Strategic Management, 24, 911–927.Wright, M., Clarysse, B., Mustar, P., & Lockett, A. (2007). Academic Entrepreneurship in Europe. Cheltenham: Edward Elgar.Yin, R. K. (1994). Case study research: Design and methods (2nd ed.). Sage: Thousand Oaks.Yusof, M., & Jain, K. J. (2010). Categories of university-level entrepreneurship: A literature survey. International Entrepreneurship and Management Journal, 6(1), 81–86

Activating researchers for entrepreneurship: bridging the gap between research and transfer to society

C

An economic evaluation of photovoltaic grid connected systems (PVGCS) in Flanders for companies: a generic model

Energy efficiency in buildings has become a key goal of any energy policy. Europe relies on the Energy Performance of Buildings Directive (EPBD), which has been converted by Flanders into the ‘Energy Performance and Interior Climate’ (EPB). Taking into account this Flemish EPB-standard (in terms of maximum U-values, E-level and K-value), this study seeks the economically most profitable combination of insulation - facade, roof, floor and glazing - for the Flemish citizen. For this purpose, a scenario-analysis is conducted using the EPB-software Flanders and a self-designed Excel file. Based on some important profitability criteria, the most profitable combination is determined for three representative types of dwellings studied. The scenario-analysis generates some well-founded guidelines for the Flemish citizen when building a house. It shows that in order to ensure the maximum profitability from investment in insulation, the key factor for the semi-detached dwelling is the insulation of roof and floor, whereas for a detached dwelling the key factor is the insulation of facade and floor. As a subsidiary consideration, the study also indicates that the U-values resulting from the more stringent E-level are still not sufficiently stringent because the U-values obtained for the most profitable combination are far below their maximum value. The same consideration applies in the case of the K-value.status: publishe