Table 1. Redefinition of the Valley of... | Emerald Publishing

Table 1.

Redefinition of the Valley of Death for intellectual property rights (IPR) commercialisation by university startups

Context	Existing context-based definition	Our proposed definition for the Valley of Death encountered when university-generated IPR are commercialised by university startups
University	• “The gap between federally-funded basic research and industry-funded applied research and development” (Sensenbrenner, 1998) • “Existed in the availability of capital from “basic research” to “commercial operation” in the phase of development and scale-up” (Evans, 2002) • “A gap between the formal roles, activities, and resources poured into research and the existing formal new product development roles, activities, processes, and resources that lead toward commercialization” (Markham et al., 2010)	“A transitional period during which university-generated intellectual property rights (IPR) acquired by a resource-constrained startup progress from invention to innovation”
Startup	• “Represents the period during which early-stage firms endure a cash deficit before their new products or services begin generating revenue from actual clients” (Zwilling, 2013) • “The gap between product launch and when the business becomes successful” (Osawa and Miyazaki, 2006)

Context	Existing context-based definition	Our proposed definition for the Valley of Death encountered when university-generated IPR are commercialised by university startups
University	• “The gap between federally-funded basic research and industry-funded applied research and development” (Sensenbrenner, 1998)• “Existed in the availability of capital from “basic research” to “commercial operation” in the phase of development and scale-up” (Evans, 2002)• “A gap between the formal roles, activities, and resources poured into research and the existing formal new product development roles, activities, processes, and resources that lead toward commercialization” (Markham et al., 2010)	“A transitional period during which university-generated intellectual property rights (IPR) acquired by a resource-constrained startup progress from invention to innovation”
Startup	• “Represents the period during which early-stage firms endure a cash deficit before their new products or services begin generating revenue from actual clients” (Zwilling, 2013)• “The gap between product launch and when the business becomes successful” (Osawa and Miyazaki, 2006)

Source: Authors’ own work