Academic Entrepreneurship in Europe
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Academic Entrepreneurship in Europe

Mike Wright, Bart Clarysse, Philippe Mustar and Andy Lockett

This book advances our understanding of university spin-off creation and development in environments outside the high-tech clusters of the US. While there has been substantial university spin-off activity internationally in recent years, a number of major aspects are little understood. The authors argue that the nature of universities is changing as reduced public funding reflects a public debate on their role in society. An important aspect of this international phenomenon is an increased emphasis on the commercialization of university research and on academic entrepreneurship. These new ventures therefore involve the spinning-off of technology and knowledge generated by universities.
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Chapter 3: Types of Spin-Offs

Mike Wright, Bart Clarysse, Philippe Mustar and Andy Lockett


3. 3.1 Types of spin-offs INTRODUCTION The key to designing approaches to address the challenges in creating and developing spin-offs is understanding their nature. Spin-offs have been studied from different conceptual perspectives. Some authors have taken the link with the parent institute as a point of departure and studied the institutional environment in which spin-offs emerge and they study differences in the link between the spin-off and the parent-research organization. For example, in Chapter 4, we describe different incubation models and the way in which they can impact the starting configuration of a spinoff. A second stream of researchers have used a resource-based lens to study spin-offs. They make distinctions between those spin-offs which have looked after external equity versus those that have not. Others have categorized spin-offs based upon their technological resources and identify technology platform spin-offs versus product or service spin-offs. Still others in this literature stream make a distinction between those spin-offs that are able to attract management experience in a founding team and those that are founded by individual researchers. A third stream of literature has distinguished between different types of spin-offs based upon their business and revenue model. These researchers have made a key distinction between those spin-offs that are exit orientated and envisage a trade sale, and those that are revenue orientated and require time to break even. Based upon the insights generated by the different...

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