Final published version
Research output: Contribution to Journal/Magazine › Journal article › peer-review
Research output: Contribution to Journal/Magazine › Journal article › peer-review
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TY - JOUR
T1 - Getting the right balance
T2 - university networks' influence on spin-offs' attraction of funding for innovation
AU - Soetanto, Danny
AU - van Geenhuizen, Marina
PY - 2015/2
Y1 - 2015/2
N2 - Little research has been done on how the relationships of academic spin-off firms with their parent university influence their ability to attract funding for innovation activities. University is undoubtedly important for young spin-offs, not only because it provides knowledge and research facilities, but also because it enables access to financial capital. We drew on a sample of 100 firms in clarifying whether and how the relationship with the university increases the ability of the spin-offs in attracting funding for research and development and to what extent this depends on different network characteristics, such as size, density, strength of ties, and multiplexity. In this study we adopted the model of curvelinearity, derived from ideas on increasing and decreasing returns. We found that all four university network characteristics have a positive relationship with the spin-offs' ability to attract funding. Interestingly, diminishing returns were only identified when it comes to strength of ties and network multiplexity. Accordingly, a relationship tended to be beneficial as long as it was not too strong or too complex. Moreover, the ability to acquire funding tended to increase if the spin-offs develop a well-connected network of university and non-university contacts. The article concludes with some theoretical and practical implications and with suggestions for future research. (C) 2014 Elsevier Ltd. All rights reserved.
AB - Little research has been done on how the relationships of academic spin-off firms with their parent university influence their ability to attract funding for innovation activities. University is undoubtedly important for young spin-offs, not only because it provides knowledge and research facilities, but also because it enables access to financial capital. We drew on a sample of 100 firms in clarifying whether and how the relationship with the university increases the ability of the spin-offs in attracting funding for research and development and to what extent this depends on different network characteristics, such as size, density, strength of ties, and multiplexity. In this study we adopted the model of curvelinearity, derived from ideas on increasing and decreasing returns. We found that all four university network characteristics have a positive relationship with the spin-offs' ability to attract funding. Interestingly, diminishing returns were only identified when it comes to strength of ties and network multiplexity. Accordingly, a relationship tended to be beneficial as long as it was not too strong or too complex. Moreover, the ability to acquire funding tended to increase if the spin-offs develop a well-connected network of university and non-university contacts. The article concludes with some theoretical and practical implications and with suggestions for future research. (C) 2014 Elsevier Ltd. All rights reserved.
KW - Academic spin-off firms
KW - University
KW - Networks
KW - Funding for innovation
KW - Linear and curvelinear trends
KW - EMPIRICAL-ANALYSIS
KW - SECTORAL PATTERNS
KW - TECHNOLOGY FIRMS
KW - SOCIAL NETWORKS
KW - OUT COMPANIES
KW - SCIENCE PARKS
KW - START-UPS
KW - PERFORMANCE
KW - KNOWLEDGE
KW - ORGANIZATIONS
U2 - 10.1016/j.technovation.2014.10.008
DO - 10.1016/j.technovation.2014.10.008
M3 - Journal article
VL - 36-37
SP - 26
EP - 38
JO - Technovation
JF - Technovation
SN - 0166-4972
ER -