A COMPREHENSIVE, MULTI-DIMENSIONAL FRAMEWORK FOR MEASURING INNOVATION INVESTMENT RETURNS IN HIGHER EDUCATION
Authors
Ganjali Jeyhun Tahir
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The problem under discussion is one of the main problems in institutional economics – assessing the actual Return on Investment (ROI) from innovation financing in contemporary research universities. Current models are based on standard approaches and techniques of business accounting, which mainly rely on immediate licensing fees or sale of intellectual property patents.
However, since traditional auditing frameworks analyze technology transfer, venture-backed spin-offs, and industry collaborations as separate and independent pillars of innovation, they overlook the complex cross-fertilization effects and hidden economic multipliers inherent to the academic ecosystem. To remedy this systemic deficiency in analysis, the present article develops a sophisticated composite model that uses multi-criteria mathematics (Integrated University Return on Investment).
In addition to the tangible financial income, our model incorporates qualitative proxies that estimate the attraction of venture capital in the region, cluster formation, ecosystem development, and technology partnerships with corporations.
Our extensive scenarios and detailed mathematical analysis demonstrate how universities can systematically prove their socioeconomic value. Thus, this article offers a concrete set of recommendations for academic administrators, institutional investors, and policy makers to strategically allocate capital, reshape KPIs, and build regional competitiveness. The dissemination of information through teaching and the generation of new knowledge through unbounded and basic scientific investigation were considered two essential functions of universities globally throughout history.
Authors
Ganjali Jeyhun Tahir
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References:
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