Alessandra Micozzi

Fostering entrepreneurship in academic spin-offs

Academic spin-offs are new companies that evolve out from universities as a result of the process of technology transfer from research to commercialisation of new products or services. This paper analyses the experience of Italian spin-offs, from their first introduction in 1999, with specific regard to the following aspects: the early growth, the governance structure and the entrepreneurial orientation. The empirical analysis refers to a sample of 160 spin-offs set up between 2000 and 2005. Quantitative analysis is based on annual reports after two, four and six years from set up. Quantitative data are supplemented with qualitative information collected from direct interview with owners and managers of spin-offs. The paper highlights the difficulties of most spin-offs in transforming the initial idea in a sustainable business. This is the result, among other things, of the lack of entrepreneurial orientation by the researchers promoting and managing the spin-offs.

Entrepreneurship education in Italian universities: trend, situation and opportunities

The aim of this paper is to provide an analysis of the present situation and recent evolution in entrepreneurship courses and curricula in Italian universities. The analysis is based on a census of entrepreneurship courses and curricula run by Italian universities in 2004 and 2010. Entrepreneurship education in Italian universities is in its early development. Up to 2004 only a few universities had courses dedicated to entrepreneurship and the majority of them dealt with the development of the business plan. This situation has only slightly improved in the following years. Courses and curricula are mostly within business schools while very few exist in engineering and science schools. This situation contrasts with the need for entrepreneurship education in the Italian economy. Given the importance of traditional sectors in Italian industry we need to stimulate start-up in high-tech sectors: the development of entrepreneurship courses in engineering and in other science curricula could play an important role in this sense. At the same time we need to favor the growth process of small firms; this requires people who are able to play an entrepreneurial role in established firms.

Fostering Female Entrepreneurship in Academic Spin-Offs

We aim at analyzing female participation in Italian academic spin-offs using publically available data and a unique hand-collected database of all academic spin-offs set up in Italy from 2002 to 2007. We base our study on three complementary levels of analysis: macro, meso, and micro level. We show that the gender gap in academic spin-offs is relevant and that a certain degree of spatial heterogeneity—possibly reflecting cultural and environmental differences between Italian provinces—exists. Furthermore, our findings show a disadvantage of females in the startup funding phase: an unfavorable circumstance that reduces their chances of success and force them to create new businesses mainly in the service sector. Social relationships and empathy among females may help compensate their disadvantages and break down barriers to entrepreneurship.

Territorial Differences in Entrepreneurial Dynamics in Italy

The last gem (Global Entrepreneurship Monitor) report shows that Italy has the lowest rate in new firms formation. Italy is also characterized by large territorial differences in entrepreneurial rates. The main aims of this paper is to provide a better understanding of the factors affecting these differences and their persistence over time. For the empirical analysis, we consider the creation of new firms in Italy from 2001 to 2012 using the Movimprese database provided by the Chambers of Commerce. The empirical analysis shows that the territorial differences in entrepreneurial rates are highly persistent over time. This is especially true for the manufacturing sector given the presence of path dependence effects.

Academic Spin-off Performance: Revealing the Impact of the Core Academic Entrepreneurial Team

Academic spin-offs (ASOs) are particular new technology-based firms (NTBFs) originating from public or university-based research institutions. One of their major challenges is to integrate scientific knowledge with the commercial knowledge in the entrepreneurial team (ET). The effect of ET composition on ASO performance has generally been examined through human capital theory or upper echelons theory. These traditional approaches have their merits and generally conclude to the necessity to add surrogate (external) entrepreneurs to the core team of academics. However, this would create a faultline, i.e. a divide between these two subgroups that negatively impacts team processes, and might explain why these artificially created ETs are not as successful as expected. We argue that a combination of these different lenses on ET composition and its relationship with performance may lead to a better understanding. Drawing on the human capital and upper echelons theories on the one hand and on the faultline theor...

Academic Spin-Offs in Italy: An Analysis of Governance Models and Performance

The paper aims to provide an overview of the phenomenon of university spin-offs in Italy.Academics spin-offs constitute one of the ways in which knowledge developed in universitiesand public research institutions transfer into the productive sector. Differently from othermodes of technology transfer they are characterized by the direct involvement of researchersand the support of the parent institution. The possibility for university and research institutionsto authorize spin-offs was introduced in Italy in 1999. Up to 2012 nearly 750 spin-offs wereset up in Italy. They registered a high survival rate and, overall, a good financial performance.However, the spin- offs that have shown significant growth rates are just a few. Very often thespin-off is used to facilitate the supply of advanced services developed within the universityrather than developing new products and services. The paper also analyse the ownership structureof spin-offs and other factors affecting their growth performance.