Public or private entrepreneurship? Revisiting motivations and definitions of success among academic entrepreneurs

Research output: Contribution to journalArticle

28 Citations (Scopus)

Abstract

The choice of university faculty to engage in academic entrepreneurship—the establishment and management of a university spinoff company—is a critical component of university economic development efforts. Replicating Hayter (J Technol Transf 36:340–352, 2011), this study investigates motivations and definitions of success among academic entrepreneurs, how they evolve, and why. The results show that academic entrepreneurs are motivated by a number of distinct, yet interrelated reasons and that spinoffs are viewed as a vehicle to pursue SBIR awards and consulting opportunities that can, in turn, enhance their traditional academic teaching and research responsibilities. Several academic entrepreneurs have enjoyed commercialization success yet, as a group, near-term commercialization goals and financial motivations have become relatively less important. While these findings have important implications for policy, they also signal a new conceptualization of university spinoffs as a low-growth contract research firm and provide empirical support for the emerging theory of public entrepreneurship.

Original languageEnglish (US)
Pages (from-to)1003-1015
Number of pages13
JournalJournal of Technology Transfer
Volume40
Issue number6
DOIs
StatePublished - Dec 1 2015

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Teaching
Economics
Entrepreneurs
Entrepreneurship
Commercialization
Spin-off
Consulting
Spin-offs
Economic development
Conceptualization
University spin-offs
Responsibility

Keywords

  • Economic development
  • Entrepreneurial motivations
  • Entrepreneurship
  • Technology transfer

ASJC Scopus subject areas

  • Business and International Management
  • Accounting
  • Engineering(all)

Cite this

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abstract = "The choice of university faculty to engage in academic entrepreneurship—the establishment and management of a university spinoff company—is a critical component of university economic development efforts. Replicating Hayter (J Technol Transf 36:340–352, 2011), this study investigates motivations and definitions of success among academic entrepreneurs, how they evolve, and why. The results show that academic entrepreneurs are motivated by a number of distinct, yet interrelated reasons and that spinoffs are viewed as a vehicle to pursue SBIR awards and consulting opportunities that can, in turn, enhance their traditional academic teaching and research responsibilities. Several academic entrepreneurs have enjoyed commercialization success yet, as a group, near-term commercialization goals and financial motivations have become relatively less important. While these findings have important implications for policy, they also signal a new conceptualization of university spinoffs as a low-growth contract research firm and provide empirical support for the emerging theory of public entrepreneurship.",
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