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Opportunity recognition and international new venture creation in university spin-offs—Cases from Denmark and Ireland

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  • Martin Hannibal

    (University of Southern Denmark)

  • Natasha Evers

    (National University of Ireland
    Halmstad University)

  • Per Servais

    (University of Southern Denmark)

Abstract

Extant research suggests that the founder’s activities and interactions are considered pivotal in driving the opportunity recognition process leading to international new venture emergence. This paper aims to explore the opportunity recognition process and international new venture emergence in the context of university high-technology spin-offs that are internationally market driven from inception. University spin-offs (USOs) are defined as ‘new firms created to exploit commercially some knowledge, technology or research results developed within a university’ (Pirnay et al., Small Bus Econ 21:355–369, 2003). To address this inquiry, this study imports theory from the entrepreneurship literature on organizational emergence, opportunity recognition, effectuation and the principle of individual self-efficacy. Drawing on empirical case data from four case USOs from Denmark and Ireland, this paper finds that the inventor-founders are typically engaged in opportunity recognition processes that are characterized as creative, driven by scientific innovations. It is indicated that the process of USO emergence and continuous development involves activities and interactions similar to typical international new ventures. The scientific knowledge that created opportunities for the emergence of INV-USOs across our cases endorses the view that innovation and internationalization are strongly correlated. Insights are provided on inventor-founders’ entrepreneurial intention demonstrated through activities and interactions in the on-going processes of creating the USO. Findings further highlight that self-efficacy of the inventor-founder(s) and access to specific resources (means at hand) are salient determinants for international new ventures to materialize. The study concludes with a proposed conceptual framework for further research on the creation of INV-university spin-offs. Conclusions and implications are drawn at the end of the article.

Suggested Citation

  • Martin Hannibal & Natasha Evers & Per Servais, 2016. "Opportunity recognition and international new venture creation in university spin-offs—Cases from Denmark and Ireland," Journal of International Entrepreneurship, Springer, vol. 14(3), pages 345-372, September.
    • Handle: RePEc:kap:jinten:v:14:y:2016:i:3:d:10.1007_s10843-016-0181-0
    DOI: 10.1007/s10843-016-0181-0
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    Cited by:

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    2. Rhoda Ahoba-Sam & David Charles, 2019. "Building of Academics’ Networks—An analysis based on Causation and Effectuation theory," Review of Regional Research: Jahrbuch für Regionalwissenschaft, Springer;Gesellschaft für Regionalforschung (GfR), vol. 39(2), pages 143-161, October.
    3. Yang, Miles M. & Li, Tianchen & Wang, Yue, 2020. "What explains the degree of internationalization of early-stage entrepreneurial firms? A multilevel study on the joint effects of entrepreneurial self-efficacy, opportunity-motivated entrepreneurship,," Journal of World Business, Elsevier, vol. 55(6).
    4. Martin Hannibal, 2020. "The influence of additive manufacturing on early internationalization: considerations into potential avenues of IE research," Journal of International Entrepreneurship, Springer, vol. 18(4), pages 473-491, December.
    5. Francisco I. Vega-Gómez & Francisco J. Miranda González & Antonio Chamorro Mera & Jesus Pérez-Mayo, 2020. "Antecedents of Entrepreneurial Skills and Their Influence on the Entrepreneurial Intention of Academics," SAGE Open, , vol. 10(2), pages 21582440209, June.
    6. Teemu Tuomisalo, 2019. "Emergence of an entrepreneurial opportunity: A case within a Finnish telecommunication international new venture," Journal of International Entrepreneurship, Springer, vol. 17(3), pages 334-354, September.
    7. Rubina Romanello & Maria Chiarvesio, 2019. "Early internationalizing firms: 2004–2018," Journal of International Entrepreneurship, Springer, vol. 17(2), pages 172-219, June.
    8. Maribel Guerrero & Francisco Liñán & F. Rafael Cáceres-Carrasco, 2021. "The influence of ecosystems on the entrepreneurship process: a comparison across developed and developing economies," Small Business Economics, Springer, vol. 57(4), pages 1733-1759, December.
    9. Alexander McKelvie & Gaylen N. Chandler & Dawn R. DeTienne & Anette Johansson, 2020. "The measurement of effectuation: highlighting research tensions and opportunities for the future," Small Business Economics, Springer, vol. 54(3), pages 689-720, March.
    10. Mariluz Fernández-Alles & Dara Hernández-Roque & Mercedes Villanueva-Flores & Mirta Díaz-Fernández, 2022. "The impact of human, social, and psychological capital on academic spin-off internationalization," Journal of International Entrepreneurship, Springer, vol. 20(3), pages 433-473, September.
    11. Scazziota, Vanessa & Serra, Fernando & Sarkar, Soumodip & Guerrazzi, Luiz, 2023. "The antecedents of entrepreneurial action: A meta-synthesis on effectuation and bricolage," Journal of Business Research, Elsevier, vol. 155(PA).
    12. Alexander Tabares & Yanto Chandra & Claudia Alvarez & Manuela Escobar-Sierra, 2021. "Opportunity-related behaviors in international entrepreneurship research: a multilevel analysis of antecedents, processes, and outcomes," International Entrepreneurship and Management Journal, Springer, vol. 17(1), pages 321-368, March.
    13. Salar Gholizadeh & Reza Mohammadkazemi, 2022. "International entrepreneurial opportunity: A systematic review, meta-synthesis, and future research agenda," Journal of International Entrepreneurship, Springer, vol. 20(2), pages 218-254, June.
    14. Katz, Jerome A. & Renko, Maija & Kundu, Sumit K., 2021. "How do internationalizing firms emerge?," Journal of Business Venturing Insights, Elsevier, vol. 15(C).
    15. Francisco-Isidoro Vega-Gomez & F. Javier Miranda & Antonio Chamorro Mera & Jesús Pérez Mayo, 2018. "The Spin-Off as an Instrument of Sustainable Development: Incentives for Creating an Academic USO," Sustainability, MDPI, vol. 10(11), pages 1-15, November.
    16. Satu Korhonen & Tanja Leppäaho, 2019. "Well-trodden highways and roads less traveled: Entrepreneurial-oriented behavior and identity construction in international entrepreneurship narratives [Las sendas más trotadas y las rutas menos ex," Journal of International Entrepreneurship, Springer, vol. 17(3), pages 355-388, September.
    17. Eduardo Terán-Yépez & David Jiménez-Castillo & Manuel Sánchez-Pérez, 2021. "International opportunity recognition: A comprehensive bibliometric review," Journal of International Entrepreneurship, Springer, vol. 19(1), pages 18-52, March.
    18. Evgueni Vinogradov & Eva Jenny Benedikte Jørgensen, 2017. "Differences in international opportunity identification between native and immigrant entrepreneurs," Journal of International Entrepreneurship, Springer, vol. 15(2), pages 207-228, June.

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