Small Steps, Big Impact: Understanding University and Micro, Small and Medium Firms Collaborations for Future Growth

Frame of the research. The collaboration between universities and companies is widely regarded as mutually advantageous. Although Micro, Small, and Medium Enterprises (M&SMEs) are increasingly engaging with academic institutions, the majority of existing literature primarily focuses on large firms. Companies can achieve a competitive advantage through innovation, while universities can capitalize on research outcomes and refine their academic programs. Purpose of the paper. This paper provides a systematic literature review on university-company collaborations, with a special focus on M&SMEs. Methodology. The study adopts an integrated interpretative framework that examines four key perspectives: 1) who (the involved actors); 2) what (the inputs and outputs of the collaboration); 3) how (the modes of collaboration); and 4) why (the drivers, enabling factors, and barriers). Results. A total of 69 Scopus-indexed journal articles published between 1987 and 2022 were selected and analyzed. Our analysis reveals a lack of a unified conceptualization of university-company collaboration, with limited use of theoretical frameworks. Originality of the paper. The analysis identified a wide range of barriers and enabling factors, though their interdependencies are seldom explored. To guide future research, we propose 12 research avenues and discuss implications for academic managers, entrepreneurs, and policymakers.