Abstract

The creation of university spin-off firms is seen as an important mechanism for generating economic and societal impacts from universities and for transferring university knowledge into application in society. Spin-offs are often localized near their parent university, but their importance for regional development is debated. This Chapter discuss research-based evidence on how university spin-offs may lead to regional impacts at several levels of analysis, both directly and indirectly. University spin-offs rarely grow into firms with significant regional impacts. Rather, the impacts of university spin-offs are more subtle, by indirect contributions to businesses and society. Rather than asking ‘what is the direct economic impacts of university spin-offs?’, it is more relevant to ask ‘how does spin-offs contribute to regional stakeholders, such as the university, regional businesses and industry, and the society more generally’. The Chapter outlines research opportunities and implications for how policy can harness the regional impacts of spin-offs.