Title: University spin-off managers and the 'ideal' funding process

Authors: Olli-Matti Nevalainen; Päivi Eriksson; Tero Montonen

Addresses: UEF Business School, University of Eastern Finland, Kuopio Campus, P.O. Box 1627, 70211 Kuopio, Finland ' UEF Business School, University of Eastern Finland, Kuopio Campus, P.O. Box 1627, 70211 Kuopio, Finland ' UEF Business School, University of Eastern Finland, Kuopio Campus, P.O. Box 1627, 70211 Kuopio, Finland

Abstract: This article explores the university spin-off financing process through the experiences of the managers who act as surrogate entrepreneurs in these companies. Based on narrative interviews, managers' experiences of the financing process were analysed through a meta-micro-narrative approach. The findings highlight how managers' micro-narratives, based on local understandings of the values, roles and contributions of investors during different funding cycles, construct alternatives to the 'ideal' funding process represented by the meta-narrative. The findings contribute to the discussion of entrepreneurial and spin-off finance by illuminating the entrepreneurs' perspective.

Keywords: entrepreneurial finance; university spin-off; surrogate entrepreneur; spin-off manager; meta-narrative; micro-narrative.

DOI: 10.1504/IJEIM.2020.108259

International Journal of Entrepreneurship and Innovation Management, 2020 Vol.24 No.4/5, pp.295 - 307

Received: 12 Sep 2018
Accepted: 04 Jun 2019
Published online: 07 Jul 2020 *

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