AN ENTREPRENEURIAL ECOSYSTEM FOR SUCCESSFUL ACADEMIC SPIN-OFFS

Academic spin-offs are a powerful channel for transferring the results of academic research to industry and society, thus providing significant contributions to economic development and generating skilled employment. The knowledge generated in universities and public research centers, however, is much greater than that which is actually transferred. Not many researchers have an entrepreneurial mindset and, when they do, they often lack the key skills to run a business successfully. Moreover, academia is not necessarily a breeding ground for start-ups. Based on case studies from academically diverse spin-offs, this paper aims to analyze the characteristics of an entrepreneurial ecosystem that favors the creation and the sustainable and successful development of academic spin-offs. Our results suggest that the political, cultural, financial, support, human capital and market dimensions require specific content and actors to complement the conventional start-up ecosystem and make it suitable for academic spin-offs.