Huynh, T., 2016. Early-stage Fundraising of University Spin-offs: A Study through Demand-site Perspectives. Venture Capital: an international journal of entrepreneurial finance, 18 (4), pp. 345-367.
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University spin-offs have increasingly received attention from academia, governments and policy-makers. However, there are only a limited number of studies which fully understand the contribution made by the founding team to fundraising, specifically how they use their social networks and capabilities, especially within the university spin-off context. Employing a resource-based view theory and social networks approach, this paper examines whether a founding team exploits its social networks and capabilities to signal the value of a university spin-off. Capabilities are analysed through a set of constructs - technology, strategy, human capital, organizational viability and commercial resource - that have been derived from previous literature. The contribution made by social networks is evaluated using three dimensions - structure, governance and content - which form the construct of relationships within a network. Based on data from 181 university spin-offs in Spain, this paper empirically demonstrates that by exploiting social networks a founding team can improve its capabilities which, in turn, enhance its fundraising ability.
|Uncontrolled Keywords:||University spin-offs ; Fundraising ; Founding teams ; Resource-based view ; Social networks|
|Group:||Faculty of Management|
|Deposited By:||Unnamed user with email symplectic@symplectic|
|Deposited On:||19 Sep 2016 14:53|
|Last Modified:||05 Oct 2016 11:56|
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