The impact of university patenting on the technological specialization of European regions: a technology-level analysis

This study investigates the relationship between the entry of universities into a new technology field and the innovative activities of firms located in the same geographical area. We aim to assess the presence of a significant correlation between academic research and technological specialization. The empirical setting is based on a dataset of 846,440 patent families, the output of 256 European regions and 428 local universities. The results of the fixed-effect models indicate a robust and positive relationship between the technological entry of academic institutions and the specialization of the region in the same domain. Furthermore, the technological distance between the portfolio of inventions filed by universities and that of co-localized firms is negatively correlated with the subsequent specialization of the hosting region, and this relationship is amplified by the entry of local academies. Several robustness checks have been performed. In particular, the results are tested on sub-samples that distinguish technology fields with lower and higher complexity and geographical regions with lower and higher innovative performance. The technological entry of universities has an additional positive effect for the strong and leading innovators whereas no significant premium or penalty was found for high and low-tech areas. This suggests that the entry of academic institutions into new technology fields occurring in a highly developed innovation ecosystem is more conducive to subsequent industrial specialization thanks to existing collaborations and transmission channels.