Complements or Substitutes?: An Empirical Analysis of the Role of Universities and Local Context in Supporting the Creation and Growth of Academic Start-Ups

Posted: 20 Sep 2006

See all articles by Rosa Grimaldi

Rosa Grimaldi

University of Bologna - Department of Management

Maurizio Sobrero

University of Bologna - Department of Management

Date Written: December 2005

Abstract

The effects of university-level support mechanisms, implemented within universities to foster the creation of academic start-ups, are discussed in comparison with local-context support mechanisms, available to any new start-ups in a particular territory. Using a sample of 74 US academic start-ups, we show that university-level support mechanisms are considered relevant whenever not replicating other support mechanisms available locally. Academic start-ups benefiting from university-level support mechanisms, ceteris paribus, are 2.6 times more likely to access Venture Capital funding, which in turn allows them to grow in the first years of their activity 22% more than non venture-backed start-ups. Implications on the role and limitations of universities in supporting academic start-ups are presented and discussed.

Suggested Citation

Grimaldi, Rosa and Sobrero, Maurizio, Complements or Substitutes?: An Empirical Analysis of the Role of Universities and Local Context in Supporting the Creation and Growth of Academic Start-Ups (December 2005). Available at SSRN: https://ssrn.com/abstract=931528

Rosa Grimaldi (Contact Author)

University of Bologna - Department of Management ( email )

Piazza Scaravilli 1
Bologna, Bologna 40126
Italy

Maurizio Sobrero

University of Bologna - Department of Management ( email )

Via Capo di Lucca 34
40126 Bologna, Bologna 40126
Italy
+39 051 2098076 (Phone)

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