Academic Spin-Offs, Formal Technology Transfer and Capital Raising

Posted: 30 Jun 2008

See all articles by Bart Clarysse

Bart Clarysse

ETH Zürich

Mike Wright

Nottingham University Business School

Andy Lockett

Nottingham University Business School (NUBS)

Philippe Mustar

École Nationale Supérieure des Mines de Paris - Centre de Sociologie de l'Innovation (CSI)

Mirjam Knockaert

Vlerick Business School

Date Written: August 2007

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.

Suggested Citation

Clarysse, Bart and Wright, Mike and Lockett, Andy and Mustar, Philippe and Knockaert, Mirjam, Academic Spin-Offs, Formal Technology Transfer and Capital Raising (August 2007). Industrial and Corporate Change, Vol. 16, Issue 4, pp. 609-640, 2007. Available at SSRN: https://ssrn.com/abstract=1153265 or http://dx.doi.org/10.1093/icc/dtm019

Bart Clarysse (Contact Author)

ETH Zürich ( email )

Zürichbergstrasse 18
8092 Zurich, CH-1015
Switzerland

Mike Wright

Nottingham University Business School ( email )

Jubilee Campus
Wollaton Road
Nottingham, NG8 1BB
United Kingdom
+44 115 951 5257 (Phone)
+44 115 951 5204 (Fax)

Andy Lockett

Nottingham University Business School (NUBS) ( email )

Jubilee Campus
Wollaton Road
Nottingham, NG8 1BB
United Kingdom

Philippe Mustar

École Nationale Supérieure des Mines de Paris - Centre de Sociologie de l'Innovation (CSI) ( email )

60 Boulevard Saint Michel
Paris cedex 06, 75272
France

HOME PAGE: http://www.csi.ensmp.fr/en/equipe/chercheurs/philippe-mustar

Mirjam Knockaert

Vlerick Business School ( email )

Library
REEP 1
Gent, BE-9000
Belgium

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