Innovation speed: Transferring university technology to market

This study extends innovation speed theory by empirically linking the antecedents and outcomes of technology commercialization at universities. Assessing university technology transfer offices (UTTOs) in the U.S., we found that the faster UTTOs can commercialize patent-protected technologies, the greater their licensing revenues streams and the more new ventures they spin off. Furthermore, using commercialization time as a surrogate for innovation speed, we identify several determinants of speed. That is, UTTO resources and the competency in identifying licensees are related to commercialization time. Also, the participation of faculty-inventors in the licensing process is a critical determinant of commercialization time. Illustrating that innovation speed is an antecedent of performance as well as a desired outcome in and of itself, provides support for innovation speed theory.