Abstract
Given the importance in recent years of the phenomenon of academic entrepreneurship in European universities, knowledge about determinants and performance of this technology transfer mechanism may have important managerial and policy implications. Applying the resource-based view at universities, we have tested the influence of five bundles of resources and capabilities on spin-off activity rates as well as on the performance of new spin-offs in a sample of seven European universities. These five bundles are: technology transfer policies and strategies; human capital; stock of technology; resources and capabilities of technology transfer offices; and support measures for academic entrepreneurship. Our results show that excellence of human capital and the presence of university-based financial support measures are strongly associated with both spin-off activity and performance. Another interesting finding is related to the availability of university-based non-economic support measures (training, counselling, etc.), which have no influence on spin-off activity but are significantly associated with performance of new spin-offs. We also discuss some interesting relationships between explanatory variables.
This is a preview of subscription content, log in via an institution to check access.
Similar content being viewed by others
References
Amit, R., & Schoemaker, P. (1993). Strategic assets and organizational rent. Strategic Management Journal, 14, 33–46.
Autio, E. (1994). New technology-based firms as agents of R&D and innovation: an empirical study. Technovation, 14, 259–273.
Autio, E. (1997). New technology-based firms in innovation networks symplectic and generative impacts. Research Policy, 26, 263–281.
Barney, J. B. (1991). Firm resources and sustained competitive advantage. Journal of Management, 17(1), 99–120.
Bray, M. J., & Lee, J. N. (2000). University revenues from technology transfer: Licensing Fees versus Equity Positions. Journal of Business Venturing, 15(5–6), 385–392.
Chandler, G. N., & Hanks, S. H. (1994). Market attractiveness, resource-based capabilities, venture strategies, and venture performance. Journal of Business Venturing, 9, 331–349.
Deeds, D. L., DeCarolis, D., & Coombs, J. E. (1998). Firm-specific resources and wealth creation in high-technology ventures: Evidence from newly public biotechnology firms. Entrepreneurship Theory and Practice, 22(3), 55–73.
Degroof, J. J., & Roberts, E. B. (2004). Overcoming weak entrepreneurial infrastructures for academic spin-off ventures. The Journal of Technology Transfer, 29, 327–352.
Di Gregorio, D., & Shane, S. (2003). Why do some universities generate more start-ups than others?. Research Policy, 32, 209–227.
Drucker, P. F. (1985). Innovation and entrepreneurship. Oxford: Butterworth Heinemann.
Etzkowitz, H. (1998). The norms of entrepreneurial science: Cognitive effects of the new university-industry linkages. Research Policy, 27, 823–833.
Feldman, M., Feller, I., Bercovitz, J., & Burton, R. (2002). Equity and the technology transfer strategies of American research universities. Management Science, 48, 105–121.
Finkle, T. A. (1998). The relationship between boards of directors and initial public offerings in the biotechnology industry. Entrepreneurship Theory and Practice, 22(3), 5–29.
Gómez, J. M., Pastor, J. T., Galiana, D., & Mira, I. (2002). Embryo firms: A new concept for the promotion of academic entrepreneurship. Elche: Universidad Miguel Hernández.
Grant, R. M. (1991). The resource-based theory of competitive advantage: implications for strategy formulation. California Management Review, Spring, 114–134.
Griliches, Z. (1990). Patent statistics as economic indicators: a survey. Journal of Economic Literature,28, 1661–1707.
Lockett, A., & Wright, M. (2005). Resources, capabilities, risk capital and the creation of university spin-out companies. Research Policy, 34, 1043–1057.
Markman, G. D., Phan, P. H., Balkin, D. B., & Gianiodis, P. T. (2005). Entrepreneurship and university-based technology transfer. Journal of Business Venturing, 20, 241–263.
Michalisin, M., Smith, R., & Kline, D. (1997). In search of strategic assets. International Journal of Organisational Analysis, 5, 360–387.
OECD (2003). Turning science into business: Patenting and licensing in public research organizations, Paris: OECD.
O’Shea, R. P., Allen, T. J., Chevalier, A., & Roche, F. (2005). Entrepreneurial orientation, technology transfer and spin off performance of U.S. universities. Research Policy, 34, 994–1009.
Penrose, E. T. (1959). The theory of the growth of the firm. New York: John Wiley.
Powers, J. B., & McDougall, P. P. (2005). University start-up formation and technology licensing with firms that go public: a resource-based view of academic entrepreneurship. Journal of Business Venturing, 20, 291–311.
Roberts, E. B. (1991). Entrepreneurs in high technology: Lessons from MIT and beyond. Oxford: Oxford University Press.
Schumpeter, J. A. (1934). The theory of economic development. New Brunswick, NJ: Transaction Books.
Teece, D. J. (1986). Profiting from technological innovation: implications for integration, collaboration, licensing and public policy. Research Policy, 15, 285–305.
Van der Sijde, P. C., Ridder, A., van Benthem J., & Groen A. (2002). Entrepreneurship and entrepreneurship stimulation at the University of Twente. In P. C. van der Sijde, A. Ridder, J. M. Gómez, J. T. Pastor, D. Galiana & I. Mira (Eds.), Infrastructures for academic spin-off companies (pp. 167–193). Elche: Universidad Miguel Hernández.
Zucker, L., Darby, M., & Brewer, M. (1998). Intellectual human capital and the birth of US biotechnology enterprises. American Economic Review, 88(1), 290–305.
Author information
Authors and Affiliations
Corresponding author
Rights and permissions
About this article
Cite this article
Gómez Gras, J.M., Galiana Lapera, D.R., Mira Solves, I. et al. An empirical approach to the organisational determinants of spin-off creation in European universities. Int Entrep Manag J 4, 187–198 (2008). https://doi.org/10.1007/s11365-007-0061-0
Published:
Issue Date:
DOI: https://doi.org/10.1007/s11365-007-0061-0