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Policies and structures for spinning off new companies from research and development organizations#
Author(s) -
Roberts Edward B.,
Malonet Denis E.
Publication year - 1996
Publication title -
randd management
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.253
H-Index - 102
eISSN - 1467-9310
pISSN - 0033-6807
DOI - 10.1111/j.1467-9310.1996.tb00927.x
Subject(s) - business , spinning , process management , materials science , composite material
This paper develops five alternative structural ‘models’ for formal efforts aimed at spinning off new companies from universities, government laboratories, and other research and development organizations. In various ways the models combine the roles of the technology originator, the entrepreneur, the R&D organization itself, and the venture investor. The paper also presents the policies and structures of technology commercialization operations from investigations at eight R&D organizations in the United States and the United Kingdom. The data indicate that a R&D organization operating in an environment where venture capital and entrepreneurs are readily available (e.g., MIT and Stanford) can appropriately: (1) exercise a low degree of selectivity in choosing technologies for spin‐off creation, and (2) provide a low level of support during the spin‐off process. The spin‐off process is more difficult in environments where venture capital and entrepreneurs are scarce (e.g., ARCH) and mechanisms for high‐selectivity and a high level of support must be in place by the R&D organization to compensate for this scarcity.