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Exploring the Boundary between Entrepreneurship and Corporate Venturing: From Assisted Spin-outs to Entrepreneurial Spin-offs

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  • E. VAN DE VELDE

    ()

  • B. CLARYSSE

    ()

  • M. WRIGHT
  • G. RAYP
  • J. BRUNEEL

Abstract

Corporate entrepreneurship and corporate spin-offs have gained importance over the last decades. Corporate spin-offs play an increasingly important role in the development and growth of emerging, high-technology industries, thereby contributing to economic growth. While previous studies on corporate spin-offs have taken the established firm as a point of departure, a central issue concerns the locus of entrepreneurs. We adopt a bottom-up approach by considering those spin-offs that are created by employees, based upon an opportunity spotted while working for the parent company. Based upon the knowledge-based theory of the firm and the literature on opportunity identification, we develop a typology of corporate spin-offs. We identified three types of corporate spin-offs: Assisted spin-outs, Restructuring-driven spin-outs and Entrepreneurial Spin-offs. These types of corporate spin-offs differ from each other in terms of nature and formality of knowledge transfer; detection and implementation of opportunity identification; and performance. Based upon an in-depth analysis of 41 corporate spin-offs in Flanders, we found that Entrepreneurial Spin-offs outperform both Assisted and Restructuring-driven spin-outs on all four performance indicators. Our findings imply that parent companies often miss possibilities to capture value from opportunities that were originally developed in the parent company.

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Bibliographic Info

Paper provided by Ghent University, Faculty of Economics and Business Administration in its series Working Papers of Faculty of Economics and Business Administration, Ghent University, Belgium with number 07/472.

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Length: 37 pages
Date of creation: Jun 2007
Date of revision:
Handle: RePEc:rug:rugwps:07/472

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