The role of the university entrepreneurial ecosystem in entrepreneurial finance: case studies of UK innovation knowledge centres

Owen, Robyn ORCID logoORCID:, Vedanthachari, Lakshmi Narasimhan ORCID logoORCID: and Hussain, Javed (2023) The role of the university entrepreneurial ecosystem in entrepreneurial finance: case studies of UK innovation knowledge centres. Venture Capital: an International Journal of Entrepreneurial Finance . pp. 1-25. ISSN 1369-1066 [Article] (Published online first) (doi:10.1080/13691066.2023.2205606)

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How to commercialize university research and create positive socio-economic impact is a fundamental research question that is under explored. Considerable public funds are invested in universities globally to create knowledge and then to explore its viability to exploit commercial value through supporting entrepreneurship. We explore how publicly funded research and commercialization of projects promote university’s science and technology (S&T) initiatives. Qualitative case studies, involving 45 interviews, examine three UK government-funded Innovation Knowledge Centres’ (IKCs) roles in commercializing three different emerging disruptive technologies: cyber security, digital construction and synthetic biology. An improved entrepreneurial finance (“entfin”) ecosystem is the catalyst to promote innovation, through public funds to empower industry and deliver an effective finance escalator. A “WHO” policy analysis framework examines: the “Why” rationale for public investment; “How” process of translation; and “Outcomes”. This identified how Entrepreneurial Finance combined with Intermediaries, Infrastructure, Training and Leadership impacts scientific research commercialization. We reveal several inter connectors that link maturity of projects, their locality and outcome horizons. Universities play an important intermediary role, regionally and globally to connect the wider entfin ecosystems. The conclusions suggest that government needs to improve the policy mix across university ecosystem actors to improve long horizon investment.

Item Type: Article
Keywords (uncontrolled): Entrepreneurial finance, innovation universities, policy appraisal, science and technology ecosystem, entrepreneurship support
Research Areas: A. > Business School > Centre for Enterprise and Economic Development Research (CEEDR)
Item ID: 37990
Notes on copyright: © 2023 The Author(s). Published by Informa UK Limited, trading as Taylor & Francis Group.
This is an Open Access article distributed under the terms of the Creative Commons Attribution-NonCommercial-NoDerivatives License (, which permits non-commercial re-use, distribution, and reproduction in any medium, provided the original work is properly cited, and is not altered, transformed, or built upon in any way. The terms on which this article has been published allow the posting of the Accepted Manuscript in a repository by the author(s) or with their consent.
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Depositing User: Jisc Publications Router
Date Deposited: 15 May 2023 11:37
Last Modified: 15 May 2023 11:37

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