A Longitudinal Study of the Effects of Innovativeness on Academic Spin-offs Performance

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Academic Spin-Offs are given the mission to bring to society science and technology innovations. Nevertheless, the relative weak financial performance of these firms has recently been a focus of discussion. Prior research has explored factors that might explain the performance diversity, including aspects related to the academic entrepreneur (e.g. human capital), organizational (e.g. team characteristics, board composition, network of partners) and institutional factors (e.g. university context, support mechanisms). An under studied potential source of heterogeneity is the diversity of technologies that these firms are based on. Research has established that academic spin-offs exhibit a wide range of technologies, that novel technologies lead to the creation of new firms and that these firms are more innovative compared to their corporate counterparts. However, there is limited knowledge testing the relationship between innovativeness and firm performance. This study tests the relationship between innovativeness across different industries and future firm performance. This paper uses several market performance indicators to observe the variety of firm sales of academic spin-offs. A longitudinal sample, between 2000 and 2012, of 125 academic spin-offs of Norway provides valuable insights on how the origin of the technology impact differences in market performance. The results show how specific elements related to the ASOs’ product innovativeness contribute to its market performance. The findings provide insights for policy makers and university managers interested in understanding the effects of their policy choices on the underlying technological nature of academic spin-offs.
Publikationsdato5 jun. 2017
StatusUdgivet - 5 jun. 2017
Begivenhed - Bologna, Italien


WorkshopUniversity-Industry Collaborations and Academic Entrepreneurship: East Meets West
LokationBologna Business School