Bridging Academia and Industry: How Geographic Hubs Connect University Science and Corporate Technology
OpenBU http://open.bu.edu Questrom School of Business BU Open Access Articles Bridging academia and industry: how geographic hubs connect university science and corpor... This work was made openly accessible by BU Faculty. Please share how this access benefits you. Your story matters. Please scroll down for article-it is on subsequent pages With 12,500 members from nearly 90 countries, INFORMS is the largest international association of operations research (O.R.) and analytics professionals and
... students. INFORMS provides unique networking and learning opportunities for individual professionals, and organizations of all types and sizes, to better understand and use O.R. and analytics tools and methods to transform strategic visions and achieve better outcomes. For more information on INFORMS, its publications, membership, or meetings visit Abstract. Innovative firms rely increasingly on academic science, yet they exploit only a small fraction of all academic discoveries. Which discoveries in academia do firms build upon? We posit that hubs play the role of bridges between academic science and corporate technology. Tracking citations from patents to approximately 10 million academic articles, we find that hubs facilitate the flow of academic science into corporate inventions in two ways. First, hub-based discoveries in academia are of higher quality and are more applied. Second, firms-in particular young, innovative, science-oriented ones-pay disproportionate attention to hub-based discoveries. We address concerns regarding unobserved heterogeneity by confirming the role of firms' attention to hub-based science in a set of 147 simultaneous discoveries. Importantly, hubs not only facilitate localized knowledge flow but also extend the geographic reach of academic science, attracting the attention of distant firms.