Title
What can we learn from academic spin-off failures? Insights from 5 case studies
Author
Faculty/Department
Faculty of Applied Economics
Publication type
conferenceObject
Publication
Manchester , [*]
Subject
Economics
Source (book)
Proceedings of the High Technology Small Firms Conference, Manchester, United Kingdom, 28-29 May 2009
Carrier
E
Target language
English (eng)
Affiliation
University of Antwerp
Abstract
Today's academic literature on new technology-based firms is rather growth and success-oriented (Autio, 1997; Shane, 2004), despite the fact that many valuable lessons can be learned from failures. This study aims at contributing to our understanding of failure processes by documenting five case studies of spin-offs that originated from European universities. Within the framework of the resource-based view of the firm and the social capital theory, the venture‟s resource base is used as central element in explaining the failures through the presence or absence of certain resources or by inappropriate application. The analysis mainly illustrated the negative influence of the lack of a champion, poor market development, the absence of market(ing) experience in the venture team and an unbalanced shareholder structure. The relatively small financial base seems rarely to be the main issues in the failure process
Handle