Abstract
The creation of knowledge-based firms has become particularly important in recent decades, bringing with it a proliferation of university support programs for setting up spin-offs. Nonetheless, there is no single model of support program for the creation of spin-offs. Indeed, what characterizes these programs is precisely that heterogeneity, and it is therefore difficult to establish criteria for classification. There may be different ways of doing so, all valid, but difficult to group. Using a review of the literature, this paper identifies a number of variables that determine the characteristics of support programs for setting up academic spin-offs: the origin of the initiative; area of activity; objectives; funding for the program; type of spin-off to which support is provided; organization of the support activities; degree of integration and degree of autonomy. It goes on to establish the conditions under which it appears that they should go in one direction or other and identifies four basic models: programs established at low-quality universities with unfavorable environments; programs established in high-quality universities with unfavorable environments; programs established at low-quality universities with favorable environments and programs established in high-quality universities with favorable environments. The results of the study may provide a good guide for academic authorities involved in implementing support programs for creating spin-offs or for improving the efficiency of existing programs.
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Notes
- 1.
Seed capital funds finance the development stage of a project, when it is necessary to design a prototype, study the market and form the entrepreneurial team.
- 2.
Growth spin-offs are academic spin-offs that seek a global market for the technology. They tend to be strongly capitalised with capital being held by external institutions. They have highly professionalised management teams, strong growth orientation and their ultimate aim is to obtain profit from dividends or surpluses.
- 3.
Lifestyle spin-offs look for a market large enough to give the founder and his/her family a comfortable life, support job creation and retain employment in the new company’s local area. They tend to have low capitalisation, be owned by people with links to the founder, have low management capacity, little or no growth orientation and their ultimate aim is survival.
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Beraza-Garmendia, J.M., Rodríguez-Castellanos, A. (2017). Title Variables that Determine the Characteristics of University Spin-Off Support Programs. In: Peris-Ortiz, M., Gómez, J., Merigó-Lindahl, J., Rueda-Armengot, C. (eds) Entrepreneurial Universities. Innovation, Technology, and Knowledge Management. Springer, Cham. https://doi.org/10.1007/978-3-319-47949-1_9
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