Introduction: commercialization of knowledge in a regional context: new perspectives

Abstract

Knowledge is recognized as the crucial element of economic growth in a knowledgebased economy. Scientific knowledge becomes increasingly important for innovation and new business development, and universities play an enhanced role in knowledge production and innovation both as providers of human capital and as seedbeds for new firms. Academic knowledge commercialization is increasingly seen as a potential economic development driver and model, and an associated pattern of transformation toward an entrepreneurial university is observed in many countries. A substantial increase in university support of commercialization and technology transfer is also observed in general. Despite the increasing importance of knowledge commercialization, the literature provides limited explanation of the relationship between research commercialization and knowledge production and its local and regional diffusion. Although knowledge is understood to be an essential driver of economic growth, the impact of academic entrepreneurial activities including commercialization of academic research is not fully understood. There are severe limitations and research gaps in the literature on knowledge commercialization. In order to bridge these problems, this Symposium aims to discuss the emerging factors in bridging the gap between knowledge and its commercialization, and to highlight the research agenda and the challenges for the academy, industry and government from a regional development perspective.