The Role of Entrepreneurial Universities in Enhancing Academic Spin-Off Performance: An Exploratory Study

In the evolving knowledge-based economy, Academic Spin-Offs (ASOs) have become increasingly significant as mechanisms for transferring university-generated research into marketable innovations. Though they represent a relatively small subset of innovation-driven ventures, their importance lies in their potential to drive regional and national economic development through the commercialization of intellectual property. ASOs are typically established by members of academic institutions—professors, researchers, students, alumni, or doctoral candidates—who aim to transform academic knowledge, patents, and technologies into entrepreneurial ventures. The emergence of ASOs aligns with the broader conceptualization of the "Entrepreneurial University," which expands the university's traditional missions of teaching and research to include active engagement in innovation and economic development. This thesis explores the evolving role of universities in supporting the development and growth of ASOs, drawing on a multi-theoretical framework to address the complexity of this institutional transformation. While prior literature has extensively analyzed the conditions for ASO creation, there remains a critical gap in understanding how universities can support ASOs beyond their inception. This study aims to fill that gap by identifying the strategies, policies, and support mechanisms employed by entrepreneurial universities to enhance ASO performance and sustainability. Organized across five chapters, the thesis begins by tracing the evolution from traditional to entrepreneurial universities, highlighting the structural, cultural, and policy changes that have enabled this transition. The second chapter delves into the ASO phenomenon, detailing their defining characteristics, performance metrics, and the challenges they face in sustaining growth, including limited scalability, resource constraints, and market readiness. The third chapter adopts a systematic literature review to identify six key drivers of university support that influence ASO performance: organizational structure, policy and strategy, networks, resources and capabilities, and infrastructure. Chapter four synthesizes major theoretical frameworks—such as the Resource-Based View, Institutional Theory, and the Triple Helix Model—to explain how entrepreneurial universities shape ASO development. By applying a multi-theoretical lens, the thesis demonstrates that university influence on ASOs is multifaceted and context-dependent. Chapter five integrates qualitative findings from in-depth interviews and case studies to propose a conceptual framework outlining how internal university mechanisms and external support structures—such as incubators, accelerators, and innovation centers—can be strategically aligned to foster ASO success. The study offers several contributions. First, it provides a holistic view of university support that extends beyond initial venture creation to long-term development. Second, it introduces an exploratory framework that maps how European universities deploy combinations of formal and informal support to enhance ASO performance. Finally, the research identifies challenges—such as balancing academic integrity with commercial objectives—and outlines strategies for overcoming them through strategic planning, resource allocation, and stakeholder engagement. Despite its limitations, including potential biases in the literature review and qualitative analysis, the thesis offers valuable insights for academics, policymakers, and university administrators seeking to strengthen the role of ASOs in innovation ecosystems.