Abstract

Innovation speed, defined as the pace of progress that a firm displays in innovating and commercializing new products, has become increasingly important for firms that aim to generate revenues from the development and commercialization of new technology. While increased innovation speed can confer benefits such as high market share, quick growth, and high profitability, speeding the time from “invention to commercialization” is a challenge for new firms that have poorly developed initial resources, and particularly so for academic spin-offs (ASOs) that aim to commercialize basic science from universities. New firms can overcome the limitations of a poorly developed internal resource base by getting resource contributions from external actors. Entrepreneurship research has shown that the value of external resources is not limited to technology development. Entrepreneurs need to build an organization around the technology they aim to commercialize and they need to gain trust and legitimacy from external stakeholders. Hence, we pose the following research question: To what extent are external contributions to technology development, organization building, and legitimacy related to innovation speed for ASOs?

Share

COinS