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Success Factors of Early-Stage University Spinoffs for Receiving Funding

Sculac, Mario (2021) Success Factors of Early-Stage University Spinoffs for Receiving Funding.

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Abstract:University Spin-offs, also known as USOs, are academic firms that are incubated in universities and other educational institutions with the purpose of commercializing their innovations into the industry. We examined the early development process of USOs and found evidence from academic articles to suggest that financial challenges often hindered further development into later stages. The answer was to acquire governmental funding to overcome these junctures. The purpose of this paper is to understand the relationship of USO characteristics and how they play roles in determining USO funding decisions. This was carried out with an analysis of grant proposals submitted by USOs to the Dutch Research Council (NWO). The dataset contained an evaluation of 242 university spin-offs from Dutch universities. Based on this dataset, a further analysis was undertaken by binary logistic regression analysis. The results showed that entrepreneurial competencies positively influence the outcome of receiving governmental funding, such as individual motivation and business model planning. We also found that commercialization of USO development had a desirable positive impact in receiving funding. Finally, this paper provides insights for academic entrepreneurship in universities and practical implications for upcoming academic entrepreneurs seeking funding.
Item Type:Essay (Bachelor)
Faculty:BMS: Behavioural, Management and Social Sciences
Subject:85 business administration, organizational science
Programme:International Business Administration BSc (50952)
Link to this item:http://purl.utwente.nl/essays/86607
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