Abstract
The aim of this research is to understand the key influencing factors in spin-off development. Whilst there is a growing stream of spin-off literature, greater attention is needed to understand what inhibits and enables spin-off development. This research begins to address this gap by exploring the key influencing factors of spin-off development at the institutional, firm and individual level.
This research conducts 25 in-depth, semi-structured interviews with stakeholders in the spin-off eco-system. Interviews were conducted with scientists/academic entrepreneurs, university technology transfer office (TTO) managers, commercialisation managers and government actors. These interviews were complemented with two full-day direct observations of KiwiNet Investment Committee Meetings. The benefit of these various data sources allowed for rich insight into the key influences of spin-off development, at a range of levels. Data was analysed using pattern matching and a coding process.
The findings show that academics are encouraged to partake in commercialisation activities by university management, government and commercialisation actors, and there are established support mechanisms to create spin-off ventures. Importantly, the findings imply there are limitations with these mechanisms as university culture, misaligned expectations and opinions, and entrepreneurial inexperience cause barriers for spin-off development. Thus these findings indicate that the development of spin-offs is complicated and involves a multitude of stakeholders. This suggests that while the involvement of these stakeholders are necessary in supplementing capability and resource deficiencies, their effectiveness may depend on the ability to align various interests and communicate differences. Overall, this research contributes to existing literature by exploring the key influences in spin-off development. Several theoretical and managerial implications are highlighted.