Origins and outcomes: Success of technology spin-offs from universities, firms, and government research centers and laboratories

Spin-off firms originate from several sources such as universities, existing firms, and government research centers. Thus far, work on spin-off activity has focused on factors that influence the creation and performance of corporate spin-offs, with recent attention concentrating on those from universities. Spin-offs from government laboratories and research centers have largely been overlooked. Thus, little is known about the comparative success of the different spin-off types. Using a database of all nanotechnology firms founded between 1981 and 2001, this study examines academic, corporate and government spin-offs and de novo start-ups in terms of firm cessation, acquisition, liquidation, bankruptcy, and funding. The data show that lineage does influence outcomes; however, each type of firm origin has provocative distinctions. Implications for technology transfer and entrepreneurship are discussed.