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Research-based spin-offs as agents in the entrepreneurial ecosystem

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  • R. Sandra Schillo

    (University of Ottawa
    University of Ottawa)

Abstract

This study investigates research-based spin-off companies (RBSOs) as agents in entrepreneurial ecosystems. Academic and policy research has established that entrepreneurial companies show relatively low growth ambitions and high failure rates, which is a considerable concern to public policy that sees RSBOs as agents of economic development. However, it has also been established that RSBOs fulfill additional functions within entrepreneurial ecosystems, including those leading to knowledge spillover effects. This study uses patterns of growth ambitions among RBSOs to identify types of RSBOs and to define their place in the entrepreneurial ecosystem, linking the types to company characteristics and 7-year survival. The study presents an original data set based on a survey of RBSOs and follow-up investigations establishing the 7-year survival status of the companies. It investigates first the prevalence of growth objectives, secondly their association with strategic choices, and thirdly the relationship of growth objectives and strategic choices with medium-term survival. The findings show that only approximately half of the companies indicate sales growth objectives. However, they also show that most of the companies not indicating immediate growth objectives are aiming to position themselves for future growth or acquisition. Growth ambitions are associated with strategic choices of RBSOs, yet strategic choices are more important in predicting survival, acquisition or exit after 7 years. The diversity of growth ambitions, strategic choices, and long-term trajectories suggests that RBSOs are not a homogenous group of agents, and represent several pathways to the creation of economic growth and knowledge utilization.

Suggested Citation

  • R. Sandra Schillo, 2018. "Research-based spin-offs as agents in the entrepreneurial ecosystem," The Journal of Technology Transfer, Springer, vol. 43(1), pages 222-239, February.
    • Handle: RePEc:kap:jtecht:v:43:y:2018:i:1:d:10.1007_s10961-016-9484-5
    DOI: 10.1007/s10961-016-9484-5
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    Cited by:

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    2. Noelia Franco-Leal & Carmen Camelo-Ordaz & Juan Pablo Dianez-Gonzalez & Elena Sousa-Ginel, 2020. "The Role of Social and Institutional Contexts in Social Innovations of Spanish Academic Spinoffs," Sustainability, MDPI, vol. 12(3), pages 1-24, January.
    3. Alice Civera & Michele Meoli & Silvio Vismara, 2019. "Do academic spinoffs internationalize?," The Journal of Technology Transfer, Springer, vol. 44(2), pages 381-403, April.
    4. Franco-Leal Noelia & Camelo-Ordaz Carmen & Fernandez-Alles Mariluz & Sousa-Ginel Elena, 2020. "The Entrepreneurial Ecosystem: Actors and Performance in Different Stages of Evolution of Academic Spinoffs," Entrepreneurship Research Journal, De Gruyter, vol. 10(2), pages 1-20, April.
    5. Veronica Scuotto & Manlio Del Giudice & Alexeis Garcia-Perez & Beatrice Orlando & Francesco Ciampi, 2020. "A spill over effect of entrepreneurial orientation on technological innovativeness: an outlook of universities and research based spin offs," The Journal of Technology Transfer, Springer, vol. 45(6), pages 1634-1654, December.
    6. Lavinia Maria Mihali & Sabina Potra & Luisa Izabel Dungan & Romeo Negrea & Adrian Cioabla, 2022. "Key Factors of AS Performance in Emerging Central and Eastern European Countries: Evidence from Romania," Sustainability, MDPI, vol. 14(14), pages 1-24, July.

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    More about this item

    Keywords

    Research-based spin-offs; Entrepreneurial Ecosystems; Academic spin-offs; Types;
    All these keywords.

    JEL classification:

    • O31 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives
    • O32 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Management of Technological Innovation and R&D
    • O38 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Government Policy
    • L21 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Business Objectives of the Firm
    • L26 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Entrepreneurship
    • M13 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - New Firms; Startups

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