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    Inherited competence and spin-off performance


    Curran, Declan and Van Egeraat, Chris and O'Gorman, Colm (2016) Inherited competence and spin-off performance. European Planning Studies, 24 (3). pp. 443-461. ISSN 0965-4313

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    Abstract

    In this paper we extend the hereditary theory of spin-off formation, developed by Klepper, by relating the concept of inherited competence to two different types of spin-offs—university and private sector spin-offs—and two different types of inherited competence—R&D competence and innovation competence. We then utilize this extension of Klepper's framework to study the evolution of a science-based industry—the biotech industry. Using the Irish biotech industry as a case-study, we find that differences in pre-entry experience manifest themselves most markedly in terms of the firm's capacity to attract venture capital, with private sector spin-offs considerably outperforming university spin-offs. We argue that the superior performance of the private sector spin-offs is explained by the nature of their inherited competence in that they are characterized by higher levels of innovation competence.

    Item Type: Article
    Keywords: Industrial evolution; inherited competence; spin-off; biotech;
    Academic Unit: Faculty of Social Sciences > Geography
    Item ID: 12259
    Identification Number: https://doi.org/10.1080/09654313.2015.1101055
    Depositing User: Dr. Chris Van Egeraat
    Date Deposited: 22 Jan 2020 17:37
    Journal or Publication Title: European Planning Studies
    Publisher: Taylor & Francis
    Refereed: Yes
    URI:

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