Human Capital and Successful Academic Spin-Off

35 Pages Posted: 10 Jan 2007 Last revised: 26 Aug 2008

See all articles by Bettina Mueller

Bettina Mueller

Center for European Economic Research (ZEW)

Date Written: 2006


Academic spin-offs are one way in which employability of university graduates is reflected. Using the ZEW spinoff-survey, this paper studies empirically the impact of human capital on the success of academic spinoffs founding in knowledge and technology intensive sectors. The focus is thereby on the composition of human capital which is described according to whether or not the founders have studied several subjects and whether or not they all come from the same research establishment. Additionally the impact of having founded as a team is analyzed. Success is measured by employment growth. The findings suggest that it is advantageous to found within a team, but that the human capital composition both for single entrepreneurs and team foundations is rather irrelevant.

Keywords: Higher Education, Human Capital, Entrepreneurship, Spin-off

JEL Classification: C12, L25, M13

Suggested Citation

Mueller, Bettina, Human Capital and Successful Academic Spin-Off (2006). ZEW - Centre for European Economic Research Discussion Paper No. 06-081, Available at SSRN: or

Bettina Mueller (Contact Author)

Center for European Economic Research (ZEW) ( email )

P.O. Box 10 34 43
L 7,1 D-68161 Mannheim

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