The university as a venture capitalist? Gap funding instruments for technology transfer

The limited availability of private funding sources to support technology transfer activities represents a major barrier to the effective commercialization of university technologies. This article analyzes the key determinants of the activation of financial instruments by universities—such as seed funds and proof-of-concept programs—to address such funding gaps. Using data from a survey of technology transfer office managers in European universities, we detail the antecedents of the presence of such instruments at the university level and their perceived effectiveness. The findings, in turn, have notable policy implications.