Factors associated with the success in patent grants and commercial impact in universities recognized as globally innovative
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Abstract
One of the key challenges in working with innovation data lies in its multifaceted definitions. While the OECD's Oslo Manual defines innovation as requiring market validation, this study focuses on identifying determinants of innovation among leading global universities, measured by patent licensing. A multiple linear regression model was employed to analyze the impact of internal university variables. Data was collected through non-probabilistic convenience sampling, utilizing the commercial impact indicator of patents and the patent success rate (from the Reuters ranking) as dependent variables. Independent variables were drawn from the Times Higher Education (THE) ranking. Econometric model results revealed that income from industry and the level of university research significantly influence patent success and commercial impact. These findings suggest that universities seeking to enhance their contribution to innovation through patents must strengthen industry collaborations. This approach fosters stronger ties with the productive sector, enabling universities to better address societal needs through knowledge and technological advancements.
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