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these results could suggest how policymakers should design public policies for academic- industrial collaborations and forintellectual property including technology transfer from universities and public research institutes to firms. Of course, this paperremains some issues yet. We should re-examine these results further.References- Chesbrough, H.W.; ¡°Open Innovation: The new imperative for creating and profiting from technology.,¡± Harvard BusinessSchool press, Boston Mass, 2003.- Chesbrough, H.W.; ¡°Open Business Models: How to Thrive in the New Innovation Land-scape,¡± Harvard Business SchoolPress, Boston Mass, 2006.- RIETI.; ¡°The Heisei era 14 Investigation Report on status of universities-industry collabora-tion with innovation system inJapan,¡± (in Japanese), 2003.- RIETI.; ¡°The Heisei era 15 Investigation Report on status of universities-industry collabora-tion with innovation system inJapan,¡± (in Japanese), 2004.- Motohashi, K.; ¡°University-industry collaborations in Japan: The role of new technol-ogy-based firms in transforming theNational Innovation System,¡± Research Policy, vol.34, pp.583¨C594, 2005.- Okamuro, H.; Selection of partners for universities-industries collaborations and the effects by small and medium enterprises.Multidisciplinary research on small and medium enterprises, Vol.5, pp.21¨C36 (in Japanese), 2006.- Small and Medium Enterprise Agency.; White paper on small and medium-sized businesses, 2008.Madrid, October 20, 21 & 22 - 2010294