INITIAL FACTORS’ INFLUENCING THE ROMANIAN ACADEMIC SPIN-OFF’S LONG-TERM SURVIVAL

Lavinia Maria CERNESCU, Luisa DUNGAN, Ilie TAUCEAN, Andra DIACONESCU, Sabina POTRA

Abstract


In emergent economies like Croatia, Czech Republic, Romania, and Bulgaria, academic spin-offs have a slow evolution. These are new firms created by individuals affiliated with research institutes or universities to exploit the scientific results. This paper improves the assessment mechanism of the main initial factors influencing the development of academic spin-offs in the Romanian context following Vohora’s five-stage model. From a resource-based view, the initial factors that influence the venture following four stages of development are outlined: research, opportunity phase, phase of pre-organization, phase of reorientation, and phase of venture sustainability. Using a qualitative research method, the paper highlights the two important key factors in the stages of development: team heterogeneity and university resources. The university’s implication starting from the inception venture phase influences positively the formation of the academic spin-off especially in the reorientation phase.


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