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Institutional Change and the Resource Flows going to Spin off Projects: The case of IMEC

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  • N. MORAY

    ()

  • B. CLARYSSE

    ()

Abstract

This study takes an institutional perspective on spinning off ventures as a venue for commercialising research. The central question dealt with is the following: are the resource endowments of spin-outs at time of founding influenced by the way in which the overall technology transfer process is organised at the parent organisation? We have selected a research institute known for its international research excellence and with a track record in spinning off ventures: IMEC (Leuven, Belgium). We questioned all senior managers involved in technology transfer and the founders of the academic ventures set up between 1987 – 2002. The basic argument of the research is that changes in the internal institutional environment -- and the spin out policy in particular -- co-evolve with a changing overall tendency in the amount of resources endowed to the academic ventures. More specifically, we identify three generations of academic ventures displaying the main organisational changes in technology transfer policies pertaining to spin off companies.

Suggested Citation

  • N. Moray & B. Clarysse, 2004. "Institutional Change and the Resource Flows going to Spin off Projects: The case of IMEC," Working Papers of Faculty of Economics and Business Administration, Ghent University, Belgium 04/241, Ghent University, Faculty of Economics and Business Administration.
  • Handle: RePEc:rug:rugwps:04/241
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    1. Manigart, Sophie & De Waele, Koen & Wright, Mike & Robbie, Ken & Desbrieres, Philippe & Sapienza, Harry J. & Beekman, Amy, 2002. "Determinants of required return in venture capital investments: a five-country study," Journal of Business Venturing, Elsevier, vol. 17(4), pages 291-312, July.
    2. Mansfield, Edwin, 1998. "Academic research and industrial innovation: An update of empirical findings1," Research Policy, Elsevier, vol. 26(7-8), pages 773-776, April.
    3. Di Gregorio, Dante & Shane, Scott, 2003. "Why do some universities generate more start-ups than others?," Research Policy, Elsevier, vol. 32(2), pages 209-227, February.
    4. Scott Shane & Toby Stuart, 2002. "Organizational Endowments and the Performance of University Start-ups," Management Science, INFORMS, vol. 48(1), pages 154-170, January.
    5. Goldfarb, Brent & Henrekson, Magnus, 2003. "Bottom-up versus top-down policies towards the commercialization of university intellectual property," Research Policy, Elsevier, vol. 32(4), pages 639-658, April.
    6. Jacob, Merle & Lundqvist, Mats & Hellsmark, Hans, 2003. "Entrepreneurial transformations in the Swedish University system: the case of Chalmers University of Technology," Research Policy, Elsevier, vol. 32(9), pages 1555-1568, October.
    7. Clarysse, Bart & Moray, Nathalie, 2004. "A process study of entrepreneurial team formation: the case of a research-based spin-off," Journal of Business Venturing, Elsevier, vol. 19(1), pages 55-79, January.
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