Innovation has been one of the main determinants of economic growth since the first industrial revolution because it has significantly increased the productivity of capital and labor. One of the relevant aspects when working with innovation data is its multiple definitions; however, the OECD in the Oslo Manual established that an innovation should only be defined as such if it undergoes market validation; that is, consumers make use of the invention through the demand for that innovation. In the process of creating these innovations, the university has an important role, as it is a space for the production of frontier knowledge, development of technologies at a pilot level and the transfer of this knowledge that allows society to advance scientifically, fomenting well-being and quality of life of the population. The purpose of this work is to find the determinants that explain innovation, measured through the licensing of patents, of some of the most renowned universities in the world that allow us to determine the factors that promote these innovation processes. For this research, the following are used as dependent variables: the indicator of the commercial impact of patents and the success rate of patents published by the Reuters ranking. As for the independent variables, some of the indicators of the Times Higher Education (THE) ranking. A multiple linear regression model was carried out that took into account the internal variables that affect the universities. The results of the econometric models found that industry revenue and the level of research of the universities significantly affect the success in the granting of patents and their commercial impact in the universities studied. Concluding that, if universities want patents to drive more innovation in the countries where they operate, it is necessary that they strengthen ties of cooperation with the industry and/or productive sectors with the purpose of satisfying broader needs of the society based on knowledge and technological development.
