Imprinting and the progeny of university spin-offs

Journal of Technology Transfer

Volumn 41, Issue 5, 2016, Pages 1113-1134

  Ciuchta, Michael P ^a   Gong, Yan ^b   Miner, Anne S ^c   Letwin, Chaim ^d   Sadler, Anthony ^e  

^a UNIVERSITY OF MASSACHUSETTS LOWELL   (United States)

^b CHINA EUROPE INTERNATIONAL BUSINESS SCHOOL   (China)

^c UNIVERSITY OF WISCONSIN MADISON   (United States)

^d SUFFOLK UNIVERSITY   (United States)

^e BARRY UNIVERSITY   (United States)

Author keywords

Entrepreneurship; Imprinting; Regional development; University spin offs; Venture capital

Indexed keywords

REGIONAL PLANNING;

ENTREPRENEURSHIP; IMPRINTING; REGIONAL DEVELOPMENT; UNIVERSITY SPIN-OFFS; VENTURE CAPITAL;

INVESTMENTS;

EID: 84954532690     PISSN: 08929912     EISSN: 15737047     Source Type: Journal    
DOI: 10.1007/s10961-015-9464-1     Document Type: Article

References (93)

1. Agarwal, R., Echambadi, R., Franco, A. M., & Sarkar, M. (2004). Knowledge transfer through inheritance: spin-out generation, development, and survival. Academy of Management Journal, 47, 501–522.
2. Agrawal, A. (2006). Engaging the inventor: Exploring licensing strategies for university inventions and the role of latent knowledge. Strategic Management Journal, 27, 63–79.
3. Aldrich, H. E., & Ruef, M. (2006). Organizations evolving (2nd ed.). Thousand Oaks, CA: Sage.
4. Amezcua, A. S., Grimes, M. G., Bradley, S. W., & Wiklund, J. (2013). Organizational sponsorship and founding environments: A contingency view on the survival of business-incubated firms, 1994–2007. Academy of Management Journal, 56, 1628–1654.
5. Astebro, T., & Bazzazian, N. (2011). Universities, entrepreneurship and local economic development. In M. Fritsch (Ed.), Handbook of research on entrepreneurship and regional development (pp. 252–333). Cheltenham: Edward Elgar.
6. Avnimelech G., & Feldman M. (2011). The impact of institution quality, cluster strength and TLO licensing capacity on the rate of academic staff spin-offs. In 2011 Atlanta conference on science and innovation policy (pp. 1–1).
7. Baker, T., Miner, A. S., & Eesley, D. T. (2003). Improvising firms: Bricolage, account giving and improvisational competencies in the founding process. Research Policy, 32, 255–276.
8. Baron, J. N., Hannan, M. T., & Burton, M. D. (1999). Building the iron cage: Determinants of managerial intensity in the early years of organizations. American Sociological Review, 64, 527–547.
9. Bathelt, H., Kogler, D. F., & Munro, A. K. (2010). A knowledge-based typology of university spin-offs in the context of regional economic development. Technovation, 30, 519–532.
10. Baum, J. A. C., & Silverman, B. S. (2004). Picking winners or building them? Alliance, intellectual, and human capital as selection criteria in venture financing and performance of biotechnology startups. Journal of Business Venturing, 19, 411–436.
11. Beckman, C. M., & Burton, M. D. (2008). Founding the future: Path dependence in the evolution of top management teams from founding to IPO. Organization Science, 19, 3–24.
12. Blossfeld, H.-P., Golsch, K., & Rohwer, G. (2007). Event history analysis with Stata. Mahwah, NJ: Lawrence Erlbaum Associates.
13. Boeker, W. (1989). Strategic change: The effects of founding and history. Academy of Management Journal, 32, 489–515.
14. Box-Steffensmeier, J. M., & Jones, B. S. (2004). Event history modeling. Cambridge: Cambridge University Press.
15. Bramwell, A., & Wolfe, D. A. (2008). Universities and regional economic development: The entrepreneurial University of Waterloo. Research Policy, 37, 1175–1187.
16. Brinckmann, J., Grichnik, D., & Kapsa, D. (2010). Should entrepreneurs plan or just storm the castle? A meta-analysis on contextual factors impacting the business planning–performance relationship in small firms. Journal of Business Venturing, 25, 24–40.
17. Clarysse, B., Wright, M., Lockett, A., Mustar, P., & Knockaert, M. (2007). Academic spin-offs, formal technology transfer and capital raising. Industrial and Corporate Change, 16, 609.
18. Cohen, J., Cohen, P., West, S. G., & Aiken, L. S. (2003). Applied multiple regression/correlation analysis for the behavioral sciences. Mahway, NJ: Lawrence Erlbaum.
19. Colombo, M. G., & Grilli, L. (2005). Founders’ human capital and the growth of new technology-based firms: A competence-based view. Research Policy, 34, 795–816.
20. Colombo, M. G., & Grilli, L. (2010). On growth drivers of high-tech start-ups: Exploring the role of founders’ human capital and venture capital. Journal of Business Venturing, 25, 610–626.
21. Coviello, N. E., & Jones, M. V. (2004). Methodological issues in international entrepreneurship research. Journal of Business Venturing, 19, 485–508.
22. Croce, A., Martí, J., & Murtinu, S. (2013). The impact of venture capital on the productivity growth of European entrepreneurial firms: ‘Screening’ or ‘value added’ effect? Journal of Business Venturing, 28, 489–510.
23. Curran, D., van Egeraat, C., & O’Gorman, C. (2011). New entrants and inherited competence: The evolution of the Irish biotech sector. Maynooth: National Institute for Regional and Spatial Analysis.
24. Davidsson, P., & Honig, B. (2003). The role of social and human capital among nascent entrepreneurs. Journal of Business Venturing, 18, 301–331.
25. Davila, A., Foster, G., & Gupta, M. (2003). Venture capital financing and the growth of startup firms. Journal of Business Venturing, 18, 689–708.
26. De Clercq, D., Fried, V. H., Lehtonen, O., & Sapienza, H. J. (2006). An entrepreneur’s guide to the venture capital galaxy. The Academy of Management Perspectives, 20, 90–112.
27. Djokovic, D., & Souitaris, V. (2008). Spinouts from academic institutions: A literature review with suggestions for further research. Journal of Technology Transfer, 33, 225–247.
28. Dobrev, S. D., & Barnett, W. P. (2005). Organizational roles and transition to entrepreneurship. Academy of Management Journal, 48, 433–449.
29. Drori, I., Ellis, S., & Shapira, Z. (2013). The evolution of a new industry: A genealogical approach. Stanford, CA: Stanford University Press.
30. Elfenbein, D. W., Hamilton, B. H., & Zenger, T. R. (2010). The small firm effect and the entrepreneurial spawning of scientists and engineers. Management Science, 56, 659–681.
31. Ensley, M. D., & Hmieleski, K. A. (2005). A comparative study of new venture top management team composition, dynamics and performance between university-based and independent start-ups. Research Policy, 34, 1091–1105.
32. Feldman, M. (2000). Where science comes to life: University bioscience, commercial spin-offs, and regional economic development. Journal of Comparative Policy Analysis, 2, 345–361.
33. Fernández-Alles, M., Camelo-Ordaz, C., & Franco-Leal, N. (2015). Key resources and actors for the evolution of academic spin-offs. The Journal of Technology Transfer, 40, 976–1002.
34. Fitzpatrick, A. (2013). How Ex-RIM employees are fueling Ontario’s startup scene. http://news.yahoo.com/ex-rim-employees-fueling-ontarios-startup-scene-112700411.html.
35. Florin, J. (2005). Is venture capital worth it? Effects on firm performance and founder returns. Journal of Business Venturing, 20, 113–135.
36. Fost, D. (2008). Keeping it all in the Google family. New York: New York Times.
37. Funk, R. J. (2014). Making the most of where you are: geography, networks, and innovation in organizations. Academy of Management Journal, 57, 193–222.
38. Gaba, V., & Meyer, A. D. (2008). Crossing the organizational species barrier: How venture capital practices infiltrated the information technology sector. Academy of Management Journal, 51, 976–998.
39. Gittelman, M., & Kogut, B. (2003). Does good science lead to valuable knowledge? Biotechnology firms and the evolutionary logic of citation patterns. Management Science, 49, 366–382.
40. Gompers, P. (1994). The rise and fall of venture capital. Business and Economic History, 23, 1–26.
41. Gompers, P., Lerner, J., & Scharfstein, D. (2005). Entrepreneurial spawning: Public corporations and the genesis of new ventures, 1986 to 1999. Journal of Finance, 60, 577–614.
42. Haller, M. K., & Welch, E. W. (2014). Entrepreneurial behavior of academic scientists: Network and cognitive determinants of commitment to grant submissions and award outcomes. Entrepreneurship Theory and Practice, 38, 807–831.
43. Hayter, C. S. (2011). In search of the profit-maximizing actor: Motivations and definitions of success from nascent academic entrepreneurs. The Journal of Technology Transfer, 36, 340–352.
44. Hayter, C. (2015). Public or private entrepreneurship? Revisiting motivations and definitions of success among academic entrepreneurs. The Journal of Technology Transfer, 40, 1003–1015.
45. Heblich, S., & Slavtchev, V. (2014). Parent universities and the location of academic startups. Small Business Economics, 42, 1–15.
46. Hellman, T., & Puri, M. (2000). The interaction between product market and financing strategy: The role of venture capital. Review of Financial Studies, 13, 959–984.
47. Hellmann, T., & Puri, M. (2002). Venture capital and the professionalization of start-up firms: Empirical evidence. Journal of Finance, 57, 169–197.
48. Hosmer, D. W., & Lemeshow, S. (1999). Applied survival analysis. New York: Wiley.
49. Hyytinen, A., & Ilmakunnas, P. (2007). What distinguishes a serial entrepreneur. Industrial and Corporate Change, 16, 793–821.
50. Jain, S., George, G., & Maltarich, M. (2009). Academics or entrepreneurs? Investigating role identity modification of university scientists involved in commercialization activity. Research Policy, 38, 922–935.
51. Klein, R., de Haan, U., & Goldberg, A. I. (2010). Overcoming obstacles encountered on the way to commercialize university IP. The Journal of Technology Transfer, 35, 671–679.
52. Klepper, S. (2001). Employee startups in high-tech industries. Industrial and Corporate Change, 10, 639–674.
53. Klepper, S. (2007). Disagreements, spinoffs, and the evolution of Detroit as the capital of the US automobile industry. Management Science, 53, 616.
54. Klepper, S. (2009). Spinoffs: A review and synthesis. European Management Review, 6, 159–171.
55. Klepper, S., & Simons, K. L. (2000). Dominance by birthright: Entry of prior radio producers and competitive ramifications in the US television receiver industry. Strategic Management Journal, 21, 997–1016.
56. Klepper, S., & Sleeper, S. (2005). Entry by spinoffs. Management Science, 51, 1291–1306.
57. Klepper, S., & Thompson, P. (2010). Disagreements and intra-industry spinoffs. International Journal of Industrial Organization, 28, 526–538.
58. Leitch, C. M., & Harrison, R. T. (2005). Maximising the potential of university spin-outs: The development of second-order commercialisation activities. R&D Management, 35, 257–272.
59. Lindelöf, P., & Löfsten, H. (2006). Environmental hostility and firm behavior—an empirical examination of new technology-based firms on science parks. Journal of Small Business Management, 44, 386–406.
60. Lockett, A., & Wright, M. (2005). Resources, capabilities, risk capital and the creation of university spin-out companies. Research Policy, 34, 1043–1057.
61. Mayer, H., & Armstrong, S. (2011). Featured graphic: The visual genealogy of spinoff companies in the technology sector in Seattle, 2008. Environment and Planning A, 43, 763–764.
62. Mian, S. A. (1996). Assessing value-added contributions of university technology business incubators to tenant firms. Research Policy, 25, 325–335.
63. Miner, A. S., Eesley, D. T., DeVaughn, M., & Rura-Polley, T. (2001). The magic beanstalk vision: Commercializing university inventions and research. In C. B. Schoonhoven & E. Romanelli (Eds.), The entrepreneurship dynamic. Stanford, CA: Stanford University Press.
64. Miner, A. S., Gong, Y., Ciuchta, M. P., Sadler, A., & Surdyk, J. (2012). Promoting university startups: International patterns, vicarious learning and policy implications. Journal of Technology Transfer, 37(2):213–233.
65. Neck, H. M., Meyer, G. D., Cohen, B., & Corbett, A. C. (2004). An entrepreneurial system view of new venture creation. Journal of Small Business Management, 42, 190–208.
66. Nicolaou, N., & Birley, S. (2003). Social networks in organizational emergence: The university spinout phenomenon. Management Science, 49, 1702–1725.
67. Niosi, J. (2006). Success factors in Canadian academic spin-offs. The Journal of Technology Transfer, 31, 451–457.
68. Patzelt, H., & Shepherd, D. A. (2009). Strategic entrepreneurship at universities: Academic entrepreneurs’ assessment of policy programs. Entrepreneurship Theory and Practice, 33, 319–340.
69. Phan, P. H., Siegel, D. S., & Wright, M. (2005). Science parks and incubators: Observations, synthesis and future research. Journal of Business Venturing, 20, 165–182.
70. Pirnay, F., Surlemont, B., & Nlemvo, F. (2003). Toward a typology of university spin-offs. Small Business Economics, 21, 355–369.
71. Rasmussen, E., Mosey, S., & Wright, M. (2011). The evolution of entrepreneurial competencies: A longitudinal study of university spin-off venture emergence. Journal of Management Studies, 48, 1314–1345.
72. Rosenbusch, N., Brinckmann, J., & Müller, V. (2013). Does acquiring venture capital pay off for the funded firms? A meta-analysis on the relationship between venture capital investment and funded firm financial performance. Journal of Business Venturing, 28, 335–353.
73. Rothaermel, F. T., Agung, S. D., & Jiang, L. (2007). University entrepreneurship: A taxonomy of the literature. Industrial and Corporate Change, 16, 691–791.
74. Sauermann, H., & Stephan, P. (2013). Conflicting logics? A multidimensional view of industrial and academic science. Organization Science, 24, 889–909.
75. Shane, S. (2004). Academic entrepreneurship: University spinoffs and wealth creation. Cheltenham: Edward Elgar.
76. Shane, S., & Stuart, T. E. (2002). Organizational endowments and the performance of university start-ups. Management Science, 48, 154–170.
77. Siegel, D. S., & Wessner, C. W. (2009). Universities and the success of entrepreneurial ventures: Evidence from the small business innovation research program. Jerusalem: Jerusalem Institute for Market Studies.
78. Siegel, D. S., & Wessner, C. (2012). Universities and the success of entrepreneurial ventures: Evidence from the small business innovation research program. The Journal of Technology Transfer, 37, 404–415.
79. Simsek, Z., Fox, B. C., & Heavey, C. (2015). “What’s past is prologue”: A framework, review, and future directions for organizational research on imprinting. Journal of Management, 41, 288–317.
80. Smilor, R. W., Gibson, D. V., & Dietrich, G. B. (1990). University spin-out companies: Technology start-ups from Austin. Journal of Business Venturing, 5, 63–76.
81. Sorensen, J. B. (2007). Bureaucracy and entrepreneurship: Workplace effects on entrepreneurial entry. Administrative Science Quarterly, 52, 387–412.
82. Steffensen, M., Rogers, E. M., & Speakman, K. (2000). Spin-offs from research centers at a research university. Journal of Business Venturing, 15, 93–111.
83. Stinchcombe, A. L. (1965). Social structure and organizations. In J. G. March (Ed.), Handbook of organizations. Chicago: Rand McNally.
84. Stuart, T. E., & Ding, W. W. (2006). When do scientists become entrepreneurs? The social structural antecedents of commercial activity in the academic life sciences. American Journal of Sociology, 112, 97–144.
85. Thomson Reuters. (2012). National Venture Capital Association Yearbook.
86. Toole, A. A., & Czarnitzki, D. (2009). Exploring the relationship between scientist human capital and firm performance: The case of biomedical academic entrepreneurs in the SBIR program. Management Science, 55, 101–114.
87. Ucbasaran, D., Westhead, P., & Wright, M. (2009). The extent and nature of opportunity identification by experienced entrepreneurs. Journal of Business Venturing, 24, 99–115.
88. Vohora, A., Wright, M., & Lockett, A. (2004). Critical junctures in the development of university high-tech spinout companies. Research Policy, 33, 147–175.
89. Wennberg, K., Wiklund, J., & Wright, M. (2011). The effectiveness of university knowledge spillovers: Performance differences between university spinoffs and corporate spinoffs. Research Policy, 40, 1128–1143.
90. Westhead, P., Ucbasaran, D., & Wright, M. (2005). Decisions, actions, and performance: Do novice, serial, and portfolio entrepreneurs differ? Journal of Small Business Management, 43, 393–417.
91. Wright, M., Robbie, K., & Ennew, C. (1997). Venture capitalists and serial entrepreneurs. Journal of Business Venturing, 12, 227–249.
92. Yamaguchi, K. (1991). Event history analysis. Newbury Park: Sage.
93. Zerbinati, S., Souitaris, V., & Moray, N. (2012). Nurture or nature? The growth paradox of research-based spin-offs. Technology Analysis & Strategic Management, 24, 21–35.