Open Innovation in Universities: The Relationship Between Innovation and Commercialisation

Increasing calls from university stakeholders to optimise innovation capabilities has never been more urgent given the increasing link between industry and universities. However, innovation activities that underpin the commercialisation attempts of universities are seldom translated into commercialisation success. This is mainly attributed to poor management of innovation processes between innovation networks. Empirical evidence indicates that trust relationships between innovation actors are difficult to achieve because of the perceived risk of disclosure, managerial complexity and conflicts of culture. The purpose of this review paper is to examine how open innovation within universities enhances innovation practices that lead to commercialisation success. Other connecting variables that embody trust, motivation to innovate and strategic leadership are equally important. Several hypotheses are developed, and a research model connects the innovation constructs. This paper is expected to make a significant contribution to connecting literatures that inform successful university-led and industry-led partnerships. Copyright © 2014 John Wiley & Sons, Ltd.