This study builds theory on how the failure to raise venture capital affects the development of new firms. Our context is a unique type of new firms, university spinouts, which are formed to commercialize intellectual property developed within universities (Shane, 2004). Although university spinouts have provided a strong source of deal flow for venture capitalists (Franklin et al., 2007), most spinouts find it difficult to raise such funding (Binks et al., 2004).
Chugh, Harveen; Nicolaou, Nicos; Gabriel, Yiannis; and Barnes, Simon
"WHAT HAPPENS TO NEW FIRMS THAT TRY, BUT FAIL TO RAISE VENTURE CAPITAL? A UNIVERSITY SPINOUT PERSPECTIVE (SUMMARY),"
Frontiers of Entrepreneurship Research: Vol. 29
, Article 3.
Available at: http://digitalknowledge.babson.edu/fer/vol29/iss3/3