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Why innovative firms do not rely on universities as innovation sources

The science and technology (S&T) binomial is often considered in the literature as an innovation system per se. Different theoretical frameworks, such as the 'national innovation systems', 'regional innovation systems' and the 'triple helix', were put forward in order to conceptualising the role of a diversity of agents in innovation processes underpinning knowledge-driven economies. More recently, the conceptual framework of smart specialisation has reinforced the importance of innovation and its diffusion in the entrepreneurial sector. Universities are still deemed as having a potentially pivotal role to play, not only in knowledge production but also in innovation delivery. The goal of this research is to discuss the importance of universities as sources of knowledge for innovative activities in Portugal. A panel comprising three waves of the CIS was built to estimate a hurdle model, the discussion of the estimation results attempt to provide some policy recommendations on the role of universities in knowledge production and diffusion and its connection to innovative firms.