Endowing university spin-offs pre-formation: Entrepreneurial capabilities for scientist-entrepreneurs.
TECHNOVATION 2020;
96:102153. [PMCID:
PMC7196419 DOI:
10.1016/j.technovation.2020.102153]
[Citation(s) in RCA: 4] [Impact Index Per Article: 1.0] [Reference Citation Analysis] [Abstract] [Key Words] [Track Full Text] [Subscribe] [Scholar Register] [Received: 10/20/2018] [Revised: 04/21/2020] [Accepted: 04/30/2020] [Indexed: 06/14/2023]
Abstract
University spin-offs are important mechanisms for creating and capturing value from scientific inventions. Academic scientists are uniquely positioned to shape such opportunities long before the university spin-off is founded. To better understand how science-based university spin-offs can be endowed for success, the pre-formation stage of 30 ventures co-founded over a 40 year period by a star-scientist-entrepreneur is analysed by matching his 363 co-invented US patents granted to 1476 co-authored publications and these 30 ventures. Employing the extended case method, including the analysis of extensive archival data, iterative interviews, and this unique, longitudinal, multi-level dataset, existing dynamic capabilities theory is confronted and extended with evidence as to how a star-scientist-entrepreneur senses and shapes and seizes opportunities to endow university spin-offs pre-formation. A process model is developed depicting four pre-formation entrepreneurial capabilities with which these science-based university spin-offs are endowed for success. Recommendations are made for scientist-entrepreneurs, investors, university leadership, and for innovation policymakers.
The pre-formation stage of 30 ventures co-founded by a star-scientist-entrepreneur is analysed.
363 co-invented US patents granted are matched to 1476 co-authored publications and to these 30 ventures.
Dynamic capabilities theory is extended to show how a star-scientist-entrepreneur senses, shapes, and seizes opportunities.
A process model is developed depicting four pre-formation entrepreneurial capabilities.
Collapse