The Journal of Technology Transfer

, Volume 30, Issue 1–2, pp 49–56 | Cite as

The University and the Start-Up:Lessons from the Past Two Decades

  • Josh Lerner


This paper explores one of Edwin Mansfield's enduring interests: the interface between academia and industry. It highlights some key lessons regarding the management of university-based spin-outs, drawing on a variety of sources. I highlight the challenges that the spin-off process poses, the impracticality of directly financing firms through internal venture funds, and the ways in which universities can add value to faculty ventures.

spin-off venture capitalist entrepreneurship venture capitals 


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Copyright information

© Springer Science+Business Media, Inc. 2004

Authors and Affiliations

  • Josh Lerner
    • 1
  1. 1.Arthur Rock Center for EntrepreneurshipHarvard Business School, Room 214BostonU.S.A

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