How does tacit knowledge transfer influence innovation speed? The case of science based entrepreneurial firms
The increased pressure put on public research institutes to commercialize their research results has given rise to an increased academic interest in technology transfer in general and science based entrepreneurial firms specifically. By building on innovation speed and knowledge literatures, this paper aims to improve understanding of how tacit knowledge can be effectively transferred from the research institute to the science based entrepreneurial firm. More specifically, we assess under which conditions tacit knowledge contributes to the generation of innovation speed, which is a crucial success parameter for technology based ventures. Using an inductive case study approach, we show that tacit knowledge can only be transferred effectively when a substantial part of the original research team joins the new venture as founders. Our analysis also reveals that the mere transfer of tacit knowledge is insufficient to ensure the successful commercialization of technology. Commercial expertise is also required on the condition that the cognitive distance between the scientific researchers and the person responsible for market interaction is not too large. Our findings have implications for science based entrepreneurs, technology transfer officers, venture capitalists, policy makers and the academic community.
|Date of creation:||04 Apr 2009|
|Date of revision:|
|Contact details of provider:|| Postal: Reep 1, 9000 Gent|
Phone: +32 9 210 98 99
Fax: +32 9 210 97 00
Web page: http://www.vlerick.com
More information through EDIRC
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Lynne G. Zucker & Michael R. Darby & Jeff S. Armstrong, 2003.
"Commercializing knowledge: university science, knowledge capture and firm performance in biotechnology,"
Federal Reserve Bank of Dallas, issue Sep, pages 149-170.
- Lynne G. Zucker & Michael R. Darby & Jeff S. Armstrong, 2002. "Commercializing Knowledge: University Science, Knowledge Capture, and Firm Performance in Biotechnology," Management Science, INFORMS, vol. 48(1), pages 138-153, January.
- Lynne G. Zucker & Michael R. Darby & Jeff S. Armstrong, 2001. "Commercializing Knowledge: University Science, Knowledge Capture, and Firm Performance in Biotechnology," NBER Working Papers 8499, National Bureau of Economic Research, Inc.
- Lockett, Andy & Murray, Gordon & Wright, Mike, 2002. "Do UK venture capitalists still have a bias against investment in new technology firms," Research Policy, Elsevier, vol. 31(6), pages 1009-1030, August.
- Moray, Nathalie & Clarysse, Bart, 2005. "Institutional change and resource endowments to science-based entrepreneurial firms," Research Policy, Elsevier, vol. 34(7), pages 1010-1027, September.
- Donald S. Siegel & Mike Wright, 2007. "Intellectual property: the assessment," Oxford Review of Economic Policy, Oxford University Press, vol. 23(4), pages 529-540, Winter.
- Debackere, Koenraad & Veugelers, Reinhilde, 2005. "The role of academic technology transfer organizations in improving industry science links," Research Policy, Elsevier, vol. 34(3), pages 321-342, April.
- Lockett, Andy & Siegel, Donald & Wright, Mike & Ensley, Michael D., 2005. "The creation of spin-off firms at public research institutions: Managerial and policy implications," Research Policy, Elsevier, vol. 34(7), pages 981-993, September.
- Bray, Michael J. & Lee, James N., 2000. "University revenues from technology transfer: Licensing fees vs. equity positions," Journal of Business Venturing, Elsevier, vol. 15(5-6), pages 385-392.
- Richard Jensen & Marie Thursby, 1998. "Proofs and Prototypes for Sale: The Tale of University Licensing," NBER Working Papers 6698, National Bureau of Economic Research, Inc.
- Kwaku Atuahene-Gima & Felicitas Evangelista, 2000. "Cross-Functional Influence in New Product Development: An Exploratory Study of Marketing and R...D Perspectives," Management Science, INFORMS, vol. 46(10), pages 1269-1284, October.
- Siegel, Donald S. & Waldman, David & Link, Albert, 2003. "Assessing the impact of organizational practices on the relative productivity of university technology transfer offices: an exploratory study," Research Policy, Elsevier, vol. 32(1), pages 27-48, January.
- Scott Shane & Toby Stuart, 2002. "Organizational Endowments and the Performance of University Start-ups," Management Science, INFORMS, vol. 48(1), pages 154-170, January.
- Henderson, Rebecca. & Cockburn, Iain., 1994. "Measuring competence? : exploring firm effects in pharmaceutical research," Working papers 3712-94., Massachusetts Institute of Technology (MIT), Sloan School of Management.
- Robert Lowe, 2006. "Who Develops a University Invention? The Impact of Tacit Knowledge and Licensing Policies," The Journal of Technology Transfer, Springer, vol. 31(4), pages 415-429, 07.
- Phan, Phillip H. & Siegel, Donald S. & Wright, Mike, 2005. "Science parks and incubators: observations, synthesis and future research," Journal of Business Venturing, Elsevier, vol. 20(2), pages 165-182, March.
- Joanna Poyago-Theotoky & John Beath & Donald S. Siegel, 2002.
"Universities and Fundamental Research: Reflections on the Growth of University--Industry Partnerships,"
Oxford Review of Economic Policy,
Oxford University Press, vol. 18(1), pages 10-21, Spring.
- Joanna Poyago-Theotoky & John Beath & Donald S. Siegel, 2002. "Universities and Fundamental Research: Reflections on the Growth of University-Industry Partnership," Discussion Paper Series, Department of Economics 200201, Department of Economics, University of St. Andrews.
- Gideon D. Markman & Donald S. Siegel & Mike Wright, 2008. "Research and Technology Commercialization," Journal of Management Studies, Wiley Blackwell, vol. 45(8), pages 1401-1423, December.
- Bart Clarysse & Mike Wright & Andy Lockett & Philippe Mustar & Mirjam Knockaert, 2007. "Academic spin-offs, formal technology transfer and capital raising," Industrial and Corporate Change, Oxford University Press, vol. 16(4), pages 609-640, August.
- Lawton Smith, H. & Ho, K., 2006. "Measuring the performance of Oxford University, Oxford Brookes University and the government laboratories' spin-off companies," Research Policy, Elsevier, vol. 35(10), pages 1554-1568, December.
- Jerry G. Thursby & Marie C. Thursby, 2002.
"Who Is Selling the Ivory Tower? Sources of Growth in University Licensing,"
INFORMS, vol. 48(1), pages 90-104, January.
- Jerry G. Thursby & Marie C. Thursby, 2000. "Who is Selling the Ivory Tower? Sources of Growth in University Licensing," NBER Working Papers 7718, National Bureau of Economic Research, Inc.
- Bart Clarysse & Mirjam Knockaert & Andy Lockett, 2007. "Outside Board Members in High Tech Start-ups," Small Business Economics, Springer, vol. 29(3), pages 243-259, October.
- Ingolf Dittmann & Ernst Maug & Johannes Kemper, 2004. "How Fundamental are Fundamental Values? Valuation Methods and their Impact on the Performance of German Venture Capitalists," European Financial Management, European Financial Management Association, vol. 10(4), pages 609-638.
- Colombo, Massimo G. & Grilli, Luca, 2005. "Founders' human capital and the growth of new technology-based firms: A competence-based view," Research Policy, Elsevier, vol. 34(6), pages 795-816, August.
- Cowan, Robin & Foray, Dominique, 1997. "The Economics of Codification and the Diffusion of Knowledge," Industrial and Corporate Change, Oxford University Press, vol. 6(3), pages 595-622, September.
- Lockett, Andy & Wright, Mike, 2005. "Resources, capabilities, risk capital and the creation of university spin-out companies," Research Policy, Elsevier, vol. 34(7), pages 1043-1057, September.
- 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.
- Audretsch, David B & Stephan, Paula E, 1996. "Company-Scientist Locational Links: The Case of Biotechnology," American Economic Review, American Economic Association, vol. 86(3), pages 641-52, June.
- Markman, Gideon D. & Gianiodis, Peter T. & Phan, Phillip H. & Balkin, David B., 2005. "Innovation speed: Transferring university technology to market," Research Policy, Elsevier, vol. 34(7), pages 1058-1075, September.
- Wright, Mike & Lockett, Andy & Clarysse, Bart & Binks, Martin, 2006. "University spin-out companies and venture capital," Research Policy, Elsevier, vol. 35(4), pages 481-501, May.
- Zucker, Lynne G & Darby, Michael R & Armstrong, Jeff, 1998. "Geographically Localized Knowledge: Spillovers or Markets?," Economic Inquiry, Western Economic Association International, vol. 36(1), pages 65-86, January.
- Donald S. Siegel & Reinhilde Veugelers & Mike Wright, 2007. "Technology transfer offices and commercialization of university intellectual property: performance and policy implications," Oxford Review of Economic Policy, Oxford University Press, vol. 23(4), pages 640-660, Winter.
When requesting a correction, please mention this item's handle: RePEc:vlg:vlgwps:2009-07. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Isabelle Vandenbroere)
If references are entirely missing, you can add them using this form.