Abstract
This paper contributes to the understanding of university spinoff (USO) development by analysing structural properties of their shareholder networks over time and across different regions. Theoretically, we propose a new stage-based typology of USO development across regions. Empirically, the study utilises a sample of 1033 academic spinoffs founded by 87 universities across 12 unitary regions in the UK considering the diversity of spatial contexts in the USO development. We undertake a social network analysis of relations USOs form with their parent universities and shareholders by adopting ‘betweenness centrality’ and ‘structural holes’ as two key measures. By employing this novel network-based view of firm development across regions, this study builds on the development model of USOs by identifying three key phases of USO development: (1) organisation phase, (2) exploitation phase, and (3) maturity and reorganisation phase. Second, we observe differences in USOs in terms of shareholder network development across diverse regional contexts. We propose a novel typology of entrepreneurial regions to better understand the diverse spatiality of USOs: peripheral lock-in, entrepreneurial periphery, rigid core, and entrepreneurial core. We call for further research to capture the long-term development and variable growth paths of USOs.
Original language | English |
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Pages (from-to) | 2101-2116 |
Number of pages | 16 |
Journal | Studies in Higher Education |
Volume | 47 |
Issue number | 10 |
Early online date | 13 Sept 2022 |
DOIs | |
Publication status | Published - 3 Oct 2022 |
Bibliographical note
Funding:The research behind this paper was funded by the Economic and Social Research Council, ref: 1231191.
Keywords
- Academic spinoffs
- universities
- networks
- network evolution
- firm growth
- regional economic development