Academic Entrepreneurship


Academic Entrepreneurship

University Spinoffs and Wealth Creation

9781843764540 Edward Elgar Publishing
Scott Shane, SBC Professor of Economics, Weatherhead School of Management, Case Western Reserve University, US
Publication Date: 2004 ISBN: 978 1 84376 454 0 Extent: 352 pp
In this unique and timely volume, Scott Shane systematically explains the formation of university spinoff companies and their role in the commercialization of university technology and wealth creation in the United States and elsewhere. The importance of university spinoff activity is discussed and the historical development of university spinoff ventures is traced over time.

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In this unique and timely volume, Scott Shane systematically explains the formation of university spinoff companies and their role in the commercialization of university technology and wealth creation in the United States and elsewhere. The importance of university spinoff activity is discussed and the historical development of university spinoff ventures is traced over time.

Scott Shane provides in-depth analysis of the four major factors that jointly influence spinoff activity: the university and societal environment, the technology developed at universities, the industries in which spinoffs operate, and the people involved. He documents the process of company creation, focusing on the formation of spinoffs, the transformation of the spinoff’s technology into new products and services, the identification and exploitation of a market for these new products and services and the acquisition of financial resources. Also detailed are the factors that enhance and inhibit the performance of university spinoffs, as well as the effect that they have on the institutions that spawn them.

Authoritative and highly readable, this volume will appeal to scholars researching the spinoff phenomenon, university technology transfer officers, inventors, policymakers, external entrepreneurs and investors.
Critical Acclaim
‘I would recommend this text as a good starting point for any serious researcher seeking to understand more about university spinoff companies.’
– Joanne Duberley, Prometheus

‘Academic Entrepreneurship is well structured and lives up to Shane’s ambition to create a coherent picture of the spin-off phenomenon. The introduction demonstrates the importance and relevance of the subject, and provides historical anchoring. . . The broad and all-embracing content of the book is in the highest degree relevant for practitioners who want a deepened understanding and concrete tips about the spin-off phenomenon. Shane’s book fills a need for innovators, entrepreneurs, investors and, not least, civil servants in both public and private institutions who work to support companies coming from the academic environment. Scott Shane’s book has the potential to become one of the standard works in academic entrepreneurship. . . the book is unambiguously positive.’
– Magnus Klofsten and Johan Scheele, International Small Business Journal

‘. . . likely to prove exceptionally valuable for researchers in this area and as a reference for those briefing policymakers. . . essential reading for those joining technology transfer offices, particularly in the USA, and for many who are there already. It will clearly give would-be academic entrepreneurs a feel for the terrain and some clue to the causes of success or failure.’
– Robert Handscombe, R&D Management

‘. . . this book is very strong and is an essential read for practitioners and researchers in this subject area. The various parts of the book are well researched, being based on a good understanding of the published work on the subject and on Shane’s own extensive fieldwork. . . What is particularly valuable about this book is that it appears to bring together a detailed understanding of the subject for the first time, covering all the elements that are important. . . the book is well written providing sound practical points and some extremely valuable insights for technology commercialisation managers.’
– Luke Pittaway, Education Economics

‘. . . I do not see how any business library can justify not holding it. It will be an essential resource for the increasing number of academic researchers and MBA students looking at this field, since it provides them with an overview and bibliography in one easily accessible format. . . I thoroughly recommend this book to academics researching the subject or thinking of spinning out a company; to university technology transfer managers and senior administrators whose institutions would benefit from spinoffs; to investors who, by acquiring a deeper understanding, could enhance their returns; and to local and national politicians who, by understanding the contribution spinoffs could make to their economies, would see the value of encouraging them.’
– Tim Cook, Materialstoday

‘This is really a must read compendium of research on academic entrepreneurship. It should be on the reading list for any course in the area and [it] also provides an interesting perspective [for] other researchers. . .’
– Marie C. Thursby, Hal and John Smith Chair of Entrepreneurship, Georgia Institute of Technology, US

‘Shane provides, with an insider’s perspective, an accurate and comprehensive profile of university spinoffs – what they are, how and where they are likely to happen, and their true economic and social impact.’
– Mark E. Coticchia, Vice President of Research, Case Western Reserve University, and co-founder of Lycos, Inc, US

‘What is particularly admirable about the book is that it would equally appeal to scholars from a wide range of disciplinary backgrounds researching the phenomenon as it would to technology transfer officers, to the inventors involved or thinking of becoming involved in university spinouts, to policymakers, to surrogate entrepreneurs and to investors.’
– Sue Birley, Director of the Entrepreneurship Centre, Imperial College, UK

‘This book will be read by university administrators and government economic planners worldwide, who are looking to transfer the technology arising from university research into their economies. Scott Shane’s detailed analysis of how one university has done so, coupled with a broader study of the factors needed to create an entrepreneurial climate around university research, provides a roadmap for this process.’
– Lita Nelsen, Director, Technology Licensing Office, Massachusetts Institute of Technology, US
Contents: Foreword by Lita Nelson 1. Introduction 2. Why Do University Spinoffs Matter? 3. University Spinoffs in Historical Perspective 4. Variation in Spinoff Activities Across Institutions 5. Environmental Influences on Spinoff Activity 6. The Types of Technology that Lead to University Spinoffs 7. The Industries Where Spinoffs Occur 8. The Role of People in University Spinoffs 9. The Process of Spinoff Company Creation 10. The Process of Spinoff Development 11. The Financing of University Spinoffs 12. The Performance of University Spinoffs 13. The Problems with University Spinoffs 14. Conclusions References Index
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