Two Sides of the Same Coin. University-Industry Collaboration and Open Innovation as Enhancers of Firm Performance

Abstract

Open innovation is proved to be determinant in the rationalization of sustainable innovation ecosystems. Firms, universities, governments, user communities and the overall environment are called to contribute to this dynamic process. This study aims to contribute to a better understanding of the impact of open innovation on firms’ performance and to empirically assess whether university-industry collaborations are complementary or substitutes for this activity. Primary data were collected from a survey encompassing 908 firms, and then combined with performance indicators from SABI (Spanish and Portuguese business information). Econometric estimations were run to evaluate the role of open innovation and university-industry collaboration in the firm innovative propensity and performance. Results highlight the importance of diversity in collaborations with the academia and inbound open innovation strategy as enhancers of firm performance. The two activities reinforce each other. By testing the impact of open innovation practices on company performance, the need for heterogeneity in terms of contact type and university is also demonstrated. Findings cast light on the need to reformulate existing policy packages, reinforcing the ties with academia as well as the promotion of open innovation strategies. The connection to the innovation ecosystem needs to be further encouraged as well as the promotion of persistent connections with the knowledge sources in an open and multilateral framework.

The Impact of Open Innovation Preparation on Organizational Performance: A Systematic Literature Review

“…The example of outbound open innovation is presented in Table VII. [13], [26], [32], [49], [55] Spin-off [13], [26], [32], [50], [53] Open sourcing [13], [26], [45], [48],…”

“…Reference Inbound Open Innovation [13], [26] [27], [28], [33], [34], [37], [38], [39], [40], [41], [42], [44]. [46], [47], [48], [49], [50],…”

“…[51], [52], [54], [55], [56] Coupled Open Innovation [17], [26], [38], [37], [43], [45] Outbound Open Innovation [26], [27], [37], [38], [34], [33] [37], [42], [44], [48], [49], [50],…”

“…[51], [55] Open Innovation Practice [26], [29], [44] Open Innovation Process [31], [30], [33], [38] Open Innovation Proclivity [35] Open Innovation Adoption [14] Open Innovation [15], [30], [31], [34], [35], [36] [14], [15], [27], [31], [32], [34], [37], [39], [40], [41], [42], [43], [48], [49], [50] [29], [30], [31], [33], [35], [38], [45], [47] Financial Performance [26], [38], [44], [46] This research offers several references from reputable journals explaining the relationship between open innovation and organizational performance. Table II and III also shows that the relationship between open innovation and organizational performance could also occur specifically within the organizational performance dimension itself, i.e., financial performance, operational performance, and technological performance.…”

Exploring the role of R&D collaborations and non-patent IP policies in government technology transfer performance: Evidence from U.S. federal agencies (1999–2016)

“…Companies operating in the same sector can benefit from knowledge spillovers within a geographic location, and university-industry collaborations can solidify such geographic industrial clusters [ 129 ]. CRADAs are inherently collaborative, and collaborations based on clear shared goals and honest, open dialogue enhance university-firm performance [ 130 , 131 ]. Evidence from comparative case studies reported in the literature and our quantitative analyses in this study suggests that the same is likely true for government-firm collaborations [ 55 , 132 , 133 ].…”