In search of the profit-maximizing actor: Motivations and definitions of success from nascent academic entrepreneurs

Scholars have traditionally assumed the establishment and management of university spinoffs are guided by growth and the pursuit of profit. However, few studies have examined the motivations and post-establishment success definitions of entrepreneurs themselves. This paper seeks to contribute to our...

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Bibliographic Details
Published in:The Journal of technology transfer 2011-06, Vol.36 (3), p.340-352
Main Author: Hayter, Christopher S
Format: Article
Language:English
Subjects:
Akademiker
Berufsverlauf
Business and Management
Colleges & universities
Colleges and universities
Commercial Law
Determinante
Economic development
Economic Growth
Empirische Methode
Entrepreneurs
Entrepreneurship
Erfolgsfaktor
Forschung und Entwicklung
funding
Gewinn
Hoch Qualifizierter
Hochschule
Industrial Organization
Initial public offerings
Innovation/Technology Management
Management
Motivation
peers
Profit maximization
Profits
Public services
Scholars
Spinoffs
Studies
Success
Technology
Technology transfer
universities
Unternehmenserfolg
Unternehmensführung
Unternehmensgründung
Unternehmer
USA
Venture capital
Wissenschaftler
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Summary:Scholars have traditionally assumed the establishment and management of university spinoffs are guided by growth and the pursuit of profit. However, few studies have examined the motivations and post-establishment success definitions of entrepreneurs themselves. This paper seeks to contribute to our understanding of the mediating factors of academic entrepreneurship through an in-depth interview-based study of 74 nascent academic entrepreneurs. The results show that academic entrepreneurs define success in a number of complex, interrelated ways including technology diffusion, technology development, financial gain, public service and peer motivations, among others. Furthermore, a large percentage of the respondents have little immediate interest in growth and have instead established their firms to pursue other sources of development funding.
ISSN:1573-7047
0892-9912
0892-9912
1573-7047
DOI:10.1007/s10961-010-9196-1