Matching technology push to market pull: strategic choices and the academic spinout firm
by D. Jane Bower
International Journal of Entrepreneurship and Innovation Management (IJEIM), Vol. 2, No. 4/5, 2002

Abstract: Most new technology-based firms (NTBFs) have spun out from existing companies, founded by highly educated and industrially experienced individuals with strong market links. Higher education institutions (HEIs) have given rise to a smaller proportion of NTBFs. This second group of founders are often academics aiming to commercialise nascent technologies and they face some different and distinctive challenges. These emerging technologies may have many potential applications. At the outset, founders must make critical strategic choices of applications to develop, if they are to attract the resources needed for the risky development process. It is a difficult challenge for academic founders with little prior market knowledge and linkages to select these applications. Reviewing literature about the early product developments of a number of academic spinout biotechnology companies, this paper analyses key issues that surrounded these decisions and their interactive relationships with the changing business environment. It is concluded that the acceptability of novel technologies and products is mediated by systemic interactions which are ill understood by industry and government.

Online publication date: Wed, 16-Jul-2003

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