Success of university spin-offs

University spin-offs contribute effectively to economic prosperity and job creation. These independent entities are formed to commercialize technologies originating from publicly funded research institutions and fulfill several functions. University spin-offs increase the technological effectiveness of an economy and contribute to the competitiveness of a nation. They foster regional development by establishing themselves in close proximity to their incubator organizations thereby attracting other high-technology companies to the region. They achieve abo- average growth rates and promote higher innovation efficiency. In a discussion on the function of publicly financed research and regional economic development, sp- offs are regarded as instruments to support their incubators and therefore legitimize further support for academic institutions. However, only limited research providing further insight on the phenomena of university spin-offs is available. Empirical evidence on the factors influencing the success of spin-offs is scarce. The Institute for Innovation Research of the Kiel University has been working towards improving the current fragmented findings through its own research efforts. Manoj Gupte contributes to the research field with an in-depth study providing empirical results on the influence of internal management activities on the growth of university spin-offs. He explicitly incorporates contextual factors into his framework.