Academic Research and Regional Innovation

Abstract

According to a large body of research, academic R&D has an important inductive effect on industrial innovation. However, the extent to which the returns to university-induced innovation are captured locally remains poorly understood. This paper introduces and assesses technology transfer at the University of Washington in Seattle, Washington, in the context of the problems associated with appropriating the benefits of academic R&D for the regional economy. The large and growing number of university-related start-up companies in the region and the clustering of firms near the university are among the indicators of success. Areas of concern are also discussed. The paper concludes by suggesting lessons for regional planners and technology transfer managers.