Academic spin-offs, formal technology transfer and capital raising
Clarysse, Bart Wright, Mike Lockett, Andy Mustar, P. Knockaert, Mirjam
Clarysse, Bart
Wright, Mike
Lockett, Andy
Mustar, P.
Knockaert, Mirjam
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Publication Type
Journal article with impact factor
Editor
Supervisor
Publication Year
2007
Journal
Industrial and Corporate Change
Book
Publication Volume
16
Publication Issue
4
Publication Begin page
609
Publication End page
640
Publication Number of pages
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Abstract
In this article we examine the influence of formal technology transfer from a public research organization (PRO) on the amount of capital a spin-off raises at start-up and the increase in capital post start-up. We examine these relationships using a unique sample of 135 spin-offs from PROs across five European countries. Our findings suggest that spin-offs with formal technology transfer start with a larger amount of capital but subsequently do not raise more capital than spin-offs without formal technology transfer.
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Keywords
Entrepreneurship