The Evolution of Spin-Off Ventures: An Integrated Model

The article aims to give an overview of the main models in the spin-off research field. The main evolution models known in literature will be analyzed. The evolution models will be discussed in increasing order of complexity. However, the existing models will prove to be inadequate to reflect the real-life situation. Therefore, a new integrative model will be discussed in detail, illustrated by using 17 case studies of Belgian academic spin-offs. The model incorporates the dynamic nature of academic spin-off evolution and the major peripheral aspects. It can be used by practitioners and academics to enhance reproducibility and decision making.

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