The creation of university spin-off firms is seen as an important mechanism for generating economic and societal impacts from universities and for transferring university knowledge into application in society. Spin-offs are often localized near their parent university, but their importance for regional development is debated. This Chapter discuss research-based evidence on how university spin-offs may lead to regional impacts at several levels of analysis, both directly and indirectly. University spin-offs rarely grow into firms with significant regional impacts. Rather, the impacts of university spin-offs are more subtle, by indirect contributions to businesses and society. Rather than asking ‘what is the direct economic impacts of university spin-offs?’, it is more relevant to ask ‘how does spin-offs contribute to regional stakeholders, such as the university, regional businesses and industry, and the society more generally’. The Chapter outlines research opportunities and implications for how policy can harness the regional impacts of spin-offs.
Einar Rasmussen and Tommy Høyvarde Clausen
Einar Rasmussen and Mark P. Rice
Ingebjørg Vestrum and Einar Rasmussen
Einar Rasmussen, Paul Benneworth and Magnus Gulbrandsen
Some universities and departments constitute supportive environments for the creation of successful university spin-off firms (USOs). How universities support USOs has been frequently studied, but in this chapter we argue that it is difficult to transfer successful blueprints from one context to another without understanding why universities support USOs and what these firms need. We discuss the entrepreneurial competencies needed by USOs and the universities’ motivation to spend scarce resources on supporting USOs. We arrive at an understanding of a wider start-up incubation ecosystem (SUPIE) for USOs where universities provide complex services influenced by a variety of stakeholders. We outline the scope for future research and policy where USOs are understood as a stakeholder for the university, with relationships to a wider network of stakeholders, that together form a SUPIE.
Eva J.B. Jørgensen and Einar Rasmussen
The international entrepreneurship literature has identified different kinds of international new ventures (INVs) such as Born Global firms, multinational traders, export–import ventures and geographically focused ventures. While some of these firms have attracted much attention during recent years (e.g., Born Globals), other types have remained comparatively unexplored. Despite their prevalence and importance, there is still scant knowledge related to geographically focused INVs. In this study we explore the creation and internationalization of a special type of geographically focused INVs that we label border firms. Border firms develop opportunities across the border to only one adjacent foreign country. To understand more about the unique internationalization processes of these firms, we build on the existing insights in relation to new venture creation and development processes from the entrepreneurship literature which emphasizes entrepreneurial opportunities and contexts of venture location. We also make use of a theory building approach and data from various sources in seven Norwegian case companies operating across the border between Norway and Russia. This study contributes to the extension of international entrepreneurship theory, both by identifying a new type of geographically focused INV, the border firms, and by exploring what opportunities they develop. In addition, we offer propositions explaining how the opportunity development processes of border firms are related to different contexts of venture location. This chapter sheds light on some important aspects of the creation processes of firms that internationalize in only one foreign country.
Edited by Adam Novotny, Einar Rasmussen, Tommy H. Clausen and Johan Wiklund
Adam Novotny, Einar Rasmussen, Tommy H. Clausen and Johan Wiklund
The establishment and growth of innovative firms are generally viewed as central to a country's or region's economic viability. However, prior research has provided limited evidence as to why some regions and countries are more successful in this regard than others. Introducing the notion of Start-up Incubation Ecosystem (SUPIE), the handbook draws attention to the importance of the environments in which these firms are started, and the support they receive along the way. In putting together this handbook, we provide a concerted effort to provide empirical evidence and conceptual considerations about how innovative new firms interact with and are influenced by their environments, and why some firms and SUPIEs are more successful than others.