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<p>We study a society that underwent a change in its attitude toward entrepreneurship during the most severe crisis of our era, the Greek debt crisis. Focusing on the interaction between state governance, industry, civil society, and academia, we compare the before and after in terms of innovativeness and provide macro-level evidence on the quadruple helix model. Having been involved in the creation of a university technology transfer office in Greece at the beginning of the crisis and another one at its end, we offer an insider’s view triangulated with interviews and stakeholders’ data. The findings indicate that the crisis significantly transformed social perceptions of entrepreneurship and fostered the development of technology-oriented SMEs, including academic spin-offs. Drawing on evidence from the European periphery and beyond the mainstream paradigm of leading innovation regions, we argue that a major financial crisis can operate simultaneously as a constraint and a stimulus for innovation, entrepreneurial behaviour, and knowledge transfer.</p>

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Necessity as a Stimulus for Academic Entrepreneurship and Innovation; A Quadruple Helix Perspective of a Financial Crisis

  • 期刊论文

  • 发表日期：

    2026年4月25日

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  • Eleni Drakaki,
  • Andreas Panagopoulos

摘要

We study a society that underwent a change in its attitude toward entrepreneurship during the most severe crisis of our era, the Greek debt crisis. Focusing on the interaction between state governance, industry, civil society, and academia, we compare the before and after in terms of innovativeness and provide macro-level evidence on the quadruple helix model. Having been involved in the creation of a university technology transfer office in Greece at the beginning of the crisis and another one at its end, we offer an insider’s view triangulated with interviews and stakeholders’ data. The findings indicate that the crisis significantly transformed social perceptions of entrepreneurship and fostered the development of technology-oriented SMEs, including academic spin-offs. Drawing on evidence from the European periphery and beyond the mainstream paradigm of leading innovation regions, we argue that a major financial crisis can operate simultaneously as a constraint and a stimulus for innovation, entrepreneurial behaviour, and knowledge transfer.