Towards a techno-industrial classification of spinouts
Background
In HESA’s recent HEBCI review, there was a recognition of the need to gather comprehensive data to better understand the IP supporting spinouts, including their technological domains and intended applications. Existing classification schemes such as SIC codes have proven inadequate for accommodating spinouts. SIC codes classify industries based on their primary economic activities rather than their technological foundations, which poses a significant limitations, especially when dealing with emerging technologies and sectors. These classifications are also updated infrequently, leading to inadequacies in capturing the nuances of rapidly evolving fields.
During the HEBCI review process, there was a consultation on methodologies for capturing information on the nature of IP and, due to there being a lack of appropriately robust existing categorisations available, a free-form text approach was proposed. While stakeholders acknowledged the value of such data, it was concluded that the proposed approach was not currently feasible, potentially compromising data sensitivity and quality. Consequently, this aspect has not been integrated into the first iteration of the Spinout Register.
It was recommended that UCI undertake an experimental project to explore options for developing feasible approaches for classifying spinouts that has potential to be integrated into future waves of the Spinout Register.
A new classification system can provide valuable insights into the technological landscape of spinouts, to inform policy decisions and support for these drivers of innovation in the UK.
Project Aims
The project aims to make progress towards a classification system for spinouts
to be considered for inclusion in the HE-BCI survey:
- Develop a techno-industrial classification framework with fixed categories and a manual classification system.
- Experiment with machine learning techniques to develop an automated techno-industrial classification system for future use.
- Consultation and refinement: Developing the new classification framework involving stakeholders to ensure its effectiveness and feasibility in practice.
Key Research Questions
- What are the different options available for classification frameworks?
- What are the different options available for classifying spinouts?
- What are the different options available for input data?
