Do internationalized universities generate export-oriented spin-offs?

Universities are avenues of internationalization as research is by definition international in nature. This might benefit the entrepreneurial activity of affiliated scientists, whose spin-off companies are presumably better... [ view full abstract ]

Universities are avenues of internationalization as research is by definition international in nature. This might benefit the entrepreneurial activity of affiliated scientists, whose spin-off companies are presumably better equipped to face the challenge of a globalized markets than non-affiliated startups. The degree and the scope of internationalization, however, varies across universities. In this paper, we investigate whether universities with higher degree of internationalization in the three missions (i.e., research, teaching, and outreach) create spin-offs that are (1) more robust, and (2) more export-oriented. Our empirical analysis is based on a survival analysis of 1,190 spin-offs from 85 Italian universities from 1999 and 2015, with a control sample of unaffiliated startups. We find that the average academic spinoff is more export-oriented than other firms, and that those spinoffs affiliated with more internationalized universities have higher foreign sales and survive longer.