Academic Entrepreneurship: University Spinoffs and Wealth Creation

The formation of university spinoff companies is described, and their role in the commercialization of university technology and wealth creation in the United States and else where is investigated. Why university spinoffs are a subject of importance in scholarly investigation is explained, as well as the historical development of university spin off activity. The factors of the university and societal environment, the nature of technology, the industries in which spinoffs occur, and the people involved inthe spinoff process that influence those activities are described. Also, thespinoff creation process and the development of university technology into new products and services, the identification and exploitation of markets for new products and services, and the acquisition of financial resources for the new organizations that exploit these new technologies are described. Factors that enhance the performance of university spinoffs are also examined in the hope of differentiating successful and unsuccessful companies. Finally, the effects of the spinoffs on the universities that created the mare examined. All these goals are achieved in this investigation by providing conceptual arguments, reviewing existing work by academic researchers and informed observers, and offering primary data collected from original studies of spinoffs from U.S. academic institutions. (JSD)