Title: Estimating business value of academic research outcomes: towards a multi-dimensional approach

Authors: Mirjam Leloux, Aard Groen

Addresses: Dutch Institute for Knowledge Intensive Entrepreneurship (NIKOS), School of Management and Governance, University of Twente, Enschede, 7521 PL Enschede, The Netherlands. ' Dutch Institute for Knowledge Intensive Entrepreneurship (NIKOS), School of Management and Governance, University of Twente, Enschede, 7521 PL Enschede, The Netherlands

Abstract: As academic entrepreneurship develops, questions of business valuation of research become more important. Therefore, there is a need to develop methods for value assessment of academic research. Conventional business valuation models for technology are usually financially oriented and will only disclose its economic value. However, this under specifies the value of university-industry transactions. The value of an invention not only depends on economic value but also on strategic, cultural or social value added to the applicant of the invention: usually a company. We introduce gross business value, being a function over time of these four dimensions of value and propose to position this gross business value of an academic technological invention within a three-dimensional model, with the research value creation process on the X-axis, the type of research on the Y-axis and its contribution to the applicant|s four types of capitals at the Z-axis.

Keywords: academic entrepreneurship; technology transfer; business valuation methods; research value chain; business value; academic research outcomes; technological invention; technological innovation.

DOI: 10.1504/IJTTC.2009.023432

International Journal of Technology Transfer and Commercialisation, 2009 Vol.8 No.1, pp.3 - 21

Available online: 23 Feb 2009 *

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