Academic spin-offs (ASO) are firms created to exploit the results of research conducted in academia. They are considered important for economic growth. Policies focused on the creation of ASOs, often resulting in companies with below-average size and slow growth. There is a lack of systematic analysis of the factors contributing to the creation and growth of high performing ASO. We aim to filling this gap.

Theoretically the paper combines the Institutional Logics Framework (Thornton & Ocasio 1999, 2008) from Institutional Theory with the Resource Based View (Connor, 1991). We contend that Universities willing to create academic spinoffs face conflicting institutional logics: Open science for University and market based for the ASOs. We claim that solving this conflict is beneficial for firm performance.