The Entrepreneurial Ecosystem: Actors and Performance in Different Stages of Evolution of Academic Spinoffs

Franco-Leal Noelia (), Camelo-Ordaz Carmen (), Fernandez-Alles Mariluz () and Sousa-Ginel Elena ()
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Franco-Leal Noelia: Business Administration, The University of Cadiz, Cadiz, Spain
Camelo-Ordaz Carmen: Business Administration, The University of Cadiz, Cadiz, Spain
Fernandez-Alles Mariluz: Business Administration, The University of Cadiz, Cadiz, Spain
Sousa-Ginel Elena: Business Administration and Marketing, Universidad Pablo de Olavide, Sevilla, Spain

Entrepreneurship Research Journal, 2020, vol. 10, issue 2, 20

Abstract: The importance of entrepreneurial ecosystems is accentuated in the academic entrepreneurship context since academic spinoffs (ASOs) must rely on actors from the ecosystem to access resources they lack in order to improve their performance. This study analyzes the impact that actors from social and institutional (university and nonuniversity) contexts in the entrepreneurial ecosystem have on ASO performance in the stage of creation and initial development and in the stage of consolidation. From a sample of 118 ASOs in the initial stage and 47 ASOs in the consolidation stage, the results indicate that social and institutional contexts improve the performance of ASOs in both phases of development, although the relevance of each context varies with the stage. In the creation and initial development stage, the institutional context affects the ASOs’ performance to a greater extent, while the influence of the social context is less strong. Science parks from the institutional context are the most relevant actors in this phase. In the consolidation phase, social context is the most relevant for improving the performance of ASOs, with the venture capitalist being the actor that exerts more influence. With respect to the institutional context, performance is only affected by the nonuniversity context in this stage.

Keywords: academic spinoffs; performance; entrepreneurial ecosystem; stages of development (search for similar items in EconPapers)
JEL-codes: I23 M13 O30 (search for similar items in EconPapers)
Date: 2020
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DOI: 10.1515/erj-2018-0228

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