IDEAS home Printed from https://ideas.repec.org/a/wsi/ijitmx/v14y2017i05ns0219877017500262.html
   My bibliography  Save this article

Key Success Factors Positively Affecting Organizational Performance of Academic Spin-Offs

Author

Listed:
  • Stefano Poponi

    (Department of Economics and Entrepreneurship, University of Tuscia, Viterbo, Italy)

  • Alessio Maria Braccini

    (Department of Economics and Entrepreneurship, University of Tuscia, Viterbo, Italy)

  • Alessandro Ruggieri

    (Department of Economics and Entrepreneurship, University of Tuscia, Viterbo, Italy)

Abstract

Universities create academic spin-offs (ASOs) as a strategy to market innovations produced through research. By their nature, ASOs are exposed to risky endeavors and often fail in achieving an adequate level of performance. In this paper, we focus on performance generation in ASOS. By way of a literature review, we contribute with the identification of nine factors associated with positive performance in ASOS: championed start-up, heterogeneity of founders’ skills, access to funding, environmental wealth, networking capital, relative size, trustworthiness, innovativeness and motivation for venturing. The paper describes and discusses the performance factors and suggests implications for research to further study performance in ASOS.

Suggested Citation

  • Stefano Poponi & Alessio Maria Braccini & Alessandro Ruggieri, 2017. "Key Success Factors Positively Affecting Organizational Performance of Academic Spin-Offs," International Journal of Innovation and Technology Management (IJITM), World Scientific Publishing Co. Pte. Ltd., vol. 14(05), pages 1-18, October.
    • Handle: RePEc:wsi:ijitmx:v:14:y:2017:i:05:n:s0219877017500262
    DOI: 10.1142/S0219877017500262
    as

    Download full text from publisher

    File URL: http://www.worldscientific.com/doi/abs/10.1142/S0219877017500262
    Download Restriction: Access to full text is restricted to subscribers
    File URL: https://libkey.io/10.1142/S0219877017500262?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Vohora, Ajay & Wright, Mike & Lockett, Andy, 2004. "Critical junctures in the development of university high-tech spinout companies," Research Policy, Elsevier, vol. 33(1), pages 147-175, January.
    2. Mike Wright & Bart Clarysse & Philippe Mustar & Andy Lockett, 2007. "Academic Entrepreneurship in Europe," Books, Edward Elgar Publishing, number 4041.
    3. Einar Rasmussen & Simon Mosey & Mike Wright, 2011. "The Evolution of Entrepreneurial Competencies: A Longitudinal Study of University Spin‐Off Venture Emergence," Journal of Management Studies, Wiley Blackwell, vol. 48, pages 1314-1345, September.
    4. Philippe Debroux, 2008. "Innovation in Japan: What Role for University Spin-offs?," Asia Pacific Business Review, Taylor & Francis Journals, vol. 14(3), pages 443-460, July.
    5. Bart Clarysse & Mike Wright & Els Van de Velde, 2011. "Entrepreneurial Origin, Technological Knowledge, and the Growth of Spin‐Off Companies," Journal of Management Studies, Wiley Blackwell, vol. 48, pages 1420-1442, September.
    6. Masanobu Tsukagoshi, 2008. "The Expected Roles of Business Angels in Seed/Early Stage University Spin-offs in Japan: Can Business Angels act as Saviours?," Asia Pacific Business Review, Taylor & Francis Journals, vol. 14(3), pages 425-442, July.
    7. Anna Lejpras & Andreas Stephan, 2011. "Locational conditions, cooperation, and innovativeness: evidence from research and company spin-offs," The Annals of Regional Science, Springer;Western Regional Science Association, vol. 46(3), pages 543-575, June.
    8. A. Heirman & B. Clarysse, 2004. "Do Intangible Assets and Pre-founding R&D Efforts Matter for Innovation Speed in Start-Ups?," Working Papers of Faculty of Economics and Business Administration, Ghent University, Belgium 04/238, Ghent University, Faculty of Economics and Business Administration.
    9. Eriksson, Tor & Moritz Kuhn, Johan, 2006. "Firm spin-offs in Denmark 1981-2000 -- patterns of entry and exit," International Journal of Industrial Organization, Elsevier, vol. 24(5), pages 1021-1040, September.
    10. Einar Rasmussen & Simon Mosey & Mike Wright, 2015. "The transformation of network ties to develop entrepreneurial competencies for university spin-offs," Entrepreneurship & Regional Development, Taylor & Francis Journals, vol. 27(7-8), pages 430-457, September.
    11. Giudici, Giancarlo & Paleari, Stefano, 2000. "The Provision of Finance to Innovation: A Survey Conducted among Italian Technology-Based Small Firms," Small Business Economics, Springer, vol. 14(1), pages 37-53, February.
    12. Clive Trebilcock, 1969. "“Spin-Off” in British Economic History: Armaments and Industry, 1760-1914," Economic History Review, Economic History Society, vol. 22(3), pages 474-490, December.
    13. Link, Albert N. & Scott, John T., 2005. "Opening the ivory tower's door: An analysis of the determinants of the formation of U.S. university spin-off companies," Research Policy, Elsevier, vol. 34(7), pages 1106-1112, September.
    14. Mozhdeh Taheri & Marina van Geenhuizen, 2011. "How human capital and social networks may influence the patterns of international learning among academic spin‐off firms," Papers in Regional Science, Wiley Blackwell, vol. 90(2), pages 287-311, June.
    15. Rasmussen, Einar & Mosey, Simon & Wright, Mike, 2014. "The influence of university departments on the evolution of entrepreneurial competencies in spin-off ventures," Research Policy, Elsevier, vol. 43(1), pages 92-106.
    16. Pierre-Jean Benghozi & Elisa Salvador, 2014. "Are traditional industrial partnerships so strategic for research spin-off development? Some evidence from the Italian case," Entrepreneurship & Regional Development, Taylor & Francis Journals, vol. 26(1-2), pages 47-79, April.
    17. Steven Pinch & Peter Sunley, 2009. "Understanding the role of venture capitalists in knowledge dissemination in high-technology agglomerations: a case study of the University of Southampton spin-off cluster," Venture Capital, Taylor & Francis Journals, vol. 11(4), pages 311-333, March.
    18. Scott Shane & Daniel Cable, 2002. "Network Ties, Reputation, and the Financing of New Ventures," Management Science, INFORMS, vol. 48(3), pages 364-381, March.
    19. Delmar, Frederic & Davidsson, Per & Gartner, William B., 2003. "Arriving at the high-growth firm," Journal of Business Venturing, Elsevier, vol. 18(2), pages 189-216, March.
    20. Walter, Achim & Auer, Michael & Ritter, Thomas, 2006. "The impact of network capabilities and entrepreneurial orientation on university spin-off performance," Journal of Business Venturing, Elsevier, vol. 21(4), pages 541-567, July.
    21. Jens Eschenbaecher & Falk Graser, 2011. "Managing And Optimizing Innovation Processes In Collaborative And Value Creating Networks," International Journal of Innovation and Technology Management (IJITM), World Scientific Publishing Co. Pte. Ltd., vol. 8(03), pages 373-391.
    22. Scott Shane & Toby Stuart, 2002. "Organizational Endowments and the Performance of University Start-ups," Management Science, INFORMS, vol. 48(1), pages 154-170, January.
    23. Sven H. De Cleyn & Johan Braet, 2010. "The Evolution Of Spin-Off Ventures: An Integrated Model," International Journal of Innovation and Technology Management (IJITM), World Scientific Publishing Co. Pte. Ltd., vol. 7(01), pages 53-70.
    24. van Burg, E. & Gilsing, V.A. & Reymen, I.M.M.J. & Romme, A.G.L., 2008. "Creating university spin-offs : A science-based design perspective," Other publications TiSEM ed13609d-fde4-43dc-ba8a-d, Tilburg University, School of Economics and Management.
    25. InÉs Macho‐Stadler & David Pérez‐Castrillo & Reinhilde Veugelers, 2008. "Designing Contracts for University Spin‐offs," Journal of Economics & Management Strategy, Wiley Blackwell, vol. 17(1), pages 185-218, March.
    26. Christian Henning & Volker Saggau, 2013. "Networks, Knowledge Spillovers And Technological Progress Of Firms: Simulations In An Evolutionary Framework," International Journal of Innovation and Technology Management (IJITM), World Scientific Publishing Co. Pte. Ltd., vol. 10(05), pages 1-32.
    27. Davila, Antonio & Foster, George & Gupta, Mahendra, 2003. "Venture capital financing and the growth of startup firms," Journal of Business Venturing, Elsevier, vol. 18(6), pages 689-708, November.
    28. Jonathan Michael Feldman & Magnus Klofsten, 2000. "Medium-Sized Firms and the Limits to Growth: A Case Study in the Evolution of a Spin-Off Firm," European Planning Studies, Taylor & Francis Journals, vol. 8(5), pages 631-650, October.
    29. Jeffrey G. Covin & Dennis P. Slevin, 1991. "A Conceptual Model of Entrepreneurship as Firm Behavior," Entrepreneurship Theory and Practice, , vol. 16(1), pages 7-26, October.
    30. Christopher S. Hayter, 2015. "Social Networks and the Success of University Spin-offs," Economic Development Quarterly, , vol. 29(1), pages 3-13, February.
    31. Robert A. Burgelman, 1983. "Corporate Entrepreneurship and Strategic Management: Insights from a Process Study," Management Science, INFORMS, vol. 29(12), pages 1349-1364, December.
    32. Richard Harrison & Claire Leitch, 2010. "Voodoo Institution or Entrepreneurial University? Spin-off Companies, the Entrepreneurial System and Regional Development in the UK," Regional Studies, Taylor & Francis Journals, vol. 44(9), pages 1241-1262.
    33. Howell, Jane M. & Shea, Christine M. & Higgins, Christopher A., 2005. "Champions of product innovations: defining, developing, and validating a measure of champion behavior," Journal of Business Venturing, Elsevier, vol. 20(5), pages 641-661, September.
    34. Y. Zhou & T. Minshall & C. Hampden-Turner, 2010. "Building Innovation Capabilities: An Inquiry Into The Dynamic Growth Process Of University Spin-Outs In China," International Journal of Innovation and Technology Management (IJITM), World Scientific Publishing Co. Pte. Ltd., vol. 7(03), pages 273-302.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Marius Tuft Mathisen & Einar Rasmussen, 2019. "The development, growth, and performance of university spin-offs: a critical review," The Journal of Technology Transfer, Springer, vol. 44(6), pages 1891-1938, December.
    2. Christopher S. Hayter & Andrew J. Nelson & Stephanie Zayed & Alan C. O’Connor, 2018. "Conceptualizing academic entrepreneurship ecosystems: a review, analysis and extension of the literature," The Journal of Technology Transfer, Springer, vol. 43(4), pages 1039-1082, August.
    3. Einar Rasmussen & Mike Wright, 2015. "How can universities facilitate academic spin-offs? An entrepreneurial competency perspective," The Journal of Technology Transfer, Springer, vol. 40(5), pages 782-799, October.
    4. Christian Sandström & Karl Wennberg & Martin W. Wallin & Yulia Zherlygina, 2018. "Public policy for academic entrepreneurship initiatives: a review and critical discussion," The Journal of Technology Transfer, Springer, vol. 43(5), pages 1232-1256, October.
    5. Christopher S. Hayter, 2016. "A trajectory of early-stage spinoff success: the role of knowledge intermediaries within an entrepreneurial university ecosystem," Small Business Economics, Springer, vol. 47(3), pages 633-656, October.
    6. Riccardo Fini & Kun Fu & Marius Tuft Mathisen & Einar Rasmussen & Mike Wright, 2017. "Institutional determinants of university spin-off quantity and quality: a longitudinal, multilevel, cross-country study," Small Business Economics, Springer, vol. 48(2), pages 361-391, February.
    7. Giuliano Sansone & Daniele Battaglia & Paolo Landoni & Emilio Paolucci, 2021. "Academic spinoffs: the role of entrepreneurship education," International Entrepreneurship and Management Journal, Springer, vol. 17(1), pages 369-399, March.
    8. Mariluz Fernández-Alles & Carmen Camelo-Ordaz & Noelia Franco-Leal, 2015. "Key resources and actors for the evolution of academic spin-offs," The Journal of Technology Transfer, Springer, vol. 40(6), pages 976-1002, December.
    9. Petra Moog & Christian Soost, 2022. "Does team diversity really matter? The connection between networks, access to financial resources, and performance in the context of university spin-offs," Small Business Economics, Springer, vol. 58(1), pages 323-351, January.
    10. Aurora A.C. Teixeira & Marlene Grande, 2013. "Determinants of the economic performance of Portuguese Academic Spin-offs: do Science & Technology infrastructures and support matter?," FEP Working Papers 502, Universidade do Porto, Faculdade de Economia do Porto.
    11. Hayter, Christopher S., 2016. "Constraining entrepreneurial development: A knowledge-based view of social networks among academic entrepreneurs," Research Policy, Elsevier, vol. 45(2), pages 475-490.
    12. Fischer, Bruno Brandão & Moraes, Gustavo Hermínio Salati Marcondes de & Schaeffer, Paola Rücker, 2019. "Universities' institutional settings and academic entrepreneurship: Notes from a developing country," Technological Forecasting and Social Change, Elsevier, vol. 147(C), pages 243-252.
    13. Elisa Salvador & Cristina Marullo & Andrea Piccaluga, 2019. "Determinants of growth in research spin-offs: a resource-based perspective," Post-Print hal-02336465, HAL.
    14. Civera, Alice & Meoli, Michele & Vismara, Silvio, 2020. "Engagement of academics in university technology transfer: Opportunity and necessity academic entrepreneurship," European Economic Review, Elsevier, vol. 123(C).
    15. repec:wsi:acsxxx:v:21:y:2019:i:08:n:s1363919619500105 is not listed on IDEAS
    16. Einar Rasmussen & Paul Benneworth & Magnus Gulbrandsen, 2013. "Scoping paper: Developing University Innovation Capacity: How can innovation policy effectively harness universities’ capability to promote high-growth technology businesses?," Working Papers on Innovation Studies 20131007, Centre for Technology, Innovation and Culture, University of Oslo.
    17. Prencipe, Antonio & Corsi, Christian & Rodríguez-Gulías, María Jesús & Fernández-López, Sara & Rodeiro-Pazos, David, 2020. "Influence of the regional entrepreneurial ecosystem and its knowledge spillovers in developing successful university spin-offs," Socio-Economic Planning Sciences, Elsevier, vol. 72(C).
    18. María Jesús Rodríguez-Gulías & David Rodeiro-Pazos & Sara Fernández-López & Christian Corsi & Antonio Prencipe, 2018. "The role of venture capitalist to enhance the growth of Spanish and Italian university spin-offs," International Entrepreneurship and Management Journal, Springer, vol. 14(4), pages 1111-1130, December.
    19. Elisa Salvador & Pierre-Jean Benghozi, 2015. "Research spin-off firms: does the university involvement really matter?," Post-Print hal-02091015, HAL.
    20. Marina Van Geenhuizen & Qing Ye & Manuel Au-Yong-Oliveira, 2015. "University spin-off firms? internationalization: Importance of skills," ERSA conference papers ersa15p644, European Regional Science Association.
    21. Marco Ferretti & Salvatore Ferri & Raffaele Fiorentino & Adele Parmentola & Alessandro Sapio, 2019. "Neither absent nor too present: the effects of the engagement of parent universities on the performance of academic spin-offs," Small Business Economics, Springer, vol. 52(1), pages 153-173, January.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:wsi:ijitmx:v:14:y:2017:i:05:n:s0219877017500262. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Tai Tone Lim (email available below). General contact details of provider: http://www.worldscinet.com/ijitm/ijitm.shtml .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.