Towards a Classification of Instruments for Valorisation of Academic & Industrial Knowledge: an exploratory analysis of eight European incubators in the life sciences

There are numerous instruments for knowledge valorisation creating economic value from academic and industrial knowledge, including incubators, spin-offs, contract research and post-graduate training. Their performance is unpredictable and enormously variable. In the absence of a theory as to how, why, and when these instruments work, universities, research institutions and companies are formulating their own policies for knowledge valorisation. Drawing on ideas from economics and social sciences, a definition and a model of knowledge valorisation are created. From that model, a typology of knowledge valorisation instruments is defined, as well as the operating principles underlying these instruments. An exploratory in-depth analysis of 8 European incubators in the life science academic area is used to illustrate both soundness and applicability of the typology. So the ultimate question may be answered: when and where does a specific knowledge valorisation instrument work best? The paper tries to fill a void by providing a systematic interpretation of knowledge valorisation instruments.