Skip to main content
SpringerLink
Log in

The determinants of the internationalization speed of Portuguese university spin-offs: An empirical investigation

  • Published:
Journal of International Entrepreneurship Aims and scope Submit manuscript

Abstract

The speed of internationalization of firms has attracted considerable research in the last few decades. However, with regard to a particular type of firm, university spin-offs (USOs), this line of research is still incipient. A majority of the studies on USOs highlights their main features but does not focus on internationalization. Based on the responses from 111 Portuguese USOs, of which 78 are exporters, econometric estimations indicate that: (1) the internationalization speed of USOs is critically dependent on support from technology transfer offices; (2) in line with the “learning advantages of newness” perspective, younger Portuguese USOs reveal higher levels of entrepreneurial spirit and entrepreneurial capabilities, being in a better position to internationalize earlier than older USOs; (3) USOs that operate in microelectronics/robotics internationalize faster and earlier than USOs operating in ICT/software/digital media; and (4) in contrast with the literature on born globals/international new ventures, greater involvement in R&D activities slows down the early internationalization process of USOs.

Abstracto

La velocidad de internacionalización de las empresas ha sido considerablemente estudiada en las últimas décadas. Sin embargo, con respecto a un determinado tipo de empresa, las Spin-off Universitarias, esta línea de investigación es aún incipiente. La mayoría de los estudios sobre las Spin-off destaca sus principales características, pero no se centra en la cuestión de la internacionalización. Con base en las respuestas de 111 Spin-off portuguesas, 78 de las cuales son exportadoras, las estimaciones econométricas indican que: 1) La velocidad de internacionalización de las Spin-off es críticamente dependiente del apoyo de las Oficinas de Transferencia de Tecnología;; 2) de acuerdo con la perspectiva de “learning advantages of newness” (ventajas de aprendizaje de lo nuevo), las más jóvenes Spin-off portuguesas revelan mayores niveles de espíritu y capacidad emprendedores, al estar en una mejor posición para una temprana internacionalización en oposición a las Spin-off más antiguas; 3) Las Spin-off que operan en Microelectrónica/Robótica se internacionalizan más rápido y anticipadamente que las Spin-off que operan en TIC/Software/Medios Digitales y 4), en contraste con la literatura sobre las empresas Born Globals/International new ventures, mientras mayor es la participación en las actividades de I&D, más lento es el proceso de internacionalización adelantada de las Spin-off.

This is a preview of subscription content, log in via an institution to check access.

Access this article

Log in via an institution

Price excludes VAT (USA)
Tax calculation will be finalised during checkout.

Instant access to the full article PDF.

Institutional subscriptions

Similar content being viewed by others

Notes

  1. The definition of USOs is far from consensual. Some authors (e.g., Ortín-Ángel and Vendrell-Herrero 2014, p. 101) define USOs as “those new technology-based firms created with the support of a university by some of its members.” We follow Shane (2004) who defines a USO as a new legal entity (company) whose core business is based on the exploitation and commercialization of the results of scientific and technological research generated in the academic parent organization (i.e., university).

  2. For more information, see http://utenportugal.org/, last accessed in September 2012.

  3. International sourcing, international joint ventures, and international cooperation are other less explored dimensions of firm internationalization (Kalinic and Forza 2012).

  4. This study adopts the same focus considering the internationalization of USOs in terms of exports.

  5. Recall that when the dependent variable is binary, conventional estimation techniques (e.g., OLS regressions) are not a valid option. First, the assumptions needed for hypothesis testing in conventional regression analysis are necessarily violated—it is unreasonable to assume, for instance, that the distribution of errors is normal. Second, in conventional regression analysis, predicted values cannot be interpreted as probabilities—they are not constrained to fall in the interval between 0 and 1.

  6. There are fourteen public universities in Portugal, of which twelve are members of the UTEN network, leaving out two relatively small universities: Azores and Trás-os-Montes (UTAD).

  7. Table 4 (in Appendix) presents the means and correlation coefficients of the relevant variables for the respondent USOs that export.

References

  • Acedo J, Casillas F (2007) Age at entry in international markets of Spanish SMEs: Entrepreneurial and institutional determinants. Int J Entrepre Behav Res 13(3):130–150

    Article  Google Scholar 

  • Acedo F, Jones M (2007) Speed of internationalization and entrepreneurial cognition: Insights and a comparison between international new ventures, exporters and domestic firms”. J World Bus 42(3):236–252

    Article  Google Scholar 

  • Algieri B, Aquino A, Succurro M (2013) Technology transfer offices and academic spin-off creation: the case of Italy. J Technol Transfer 38(4):382–400

  • Al-Laham A, Souitaris V (2008) Network embeddedness and new-venture internationalisation: Analyzing international linkages in the German Biotech Industry”. J Bus Ventur 23:567–586

    Article  Google Scholar 

  • Altomonte C, Aquilante T, Békés G, Ottaviano GIP (2013) Internationalization and innovation of firms: Evidence and policy. Econ Policy 28(76):663–700

    Article  Google Scholar 

  • Andersson S, Evers N, Griot C (2013) Local and international networks in small firm internationalization: Cases from the Rhône-Alpes medical technology regional cluster. Entrepren Reg Dev: An Int J 25(9–10):867–888

    Article  Google Scholar 

  • Antoncic B, Prodan I (2008) Alliances, corporate technological entrepreneurship and firm performance: Testing a model on manufacturing firms. Technovation 28(5):257–265

    Article  Google Scholar 

  • Arnold JM, Hussinger K (2010) Exports versus FDI in German manufacturing: Firm performance and participation in international markets. Rev Int Econ 18(4):595–606

    Article  Google Scholar 

  • Aspelund A, Moen O (2004) Internationalization of small high-tech firms: The role of information technology. J Eur-Mark 13(2/3):85–105

    Article  Google Scholar 

  • Autio E, Sapienza H, Almeida J (2000) Effects of age at entry, knowledge intensity, and imitability on international growth. Acad Manag J 43(5):909–924

    Article  Google Scholar 

  • Autio E, George G, Alexy O (2011) International entrepreneurship and capability development—qualitative evidence and future research directions. Enterp Theory Pract 35(1):11–38

    Article  Google Scholar 

  • Axinn C, Matthyssens P (2002) Limits of internationalization theories in an unlimited world. Int Mark Rev 19(5):436–449

    Article  Google Scholar 

  • Balconi M, Laboranti A (2006) University-industry interactions in applied research: The case of microelectronics. Res Policy 35(10):1616–1630

    Article  Google Scholar 

  • Beck T, Kunt A, Maksimovic V (2005) Financial and legal constraints to growth: Does firm size matter? J Financ LX(1):137–177

    Article  Google Scholar 

  • Bell J (1995) The internationalization of small computer software firms: A further challenge to ‘stage’ theories”. Eur J Mark 29(8):60–75

    Article  Google Scholar 

  • Bernstein, J.I.; Nadiri, M.I. (1983) Does knowledge intensity matter? A dynamic analysis of research and development, capital utilization and labor requirements. NBER Working Paper No. 1238.

  • Bjørnåli ES, Aspelund A (2012) The role of the entrepreneurial team and the board of directors in the internationalization of academic spin-offs. J Int Entrep 10(4):350–377

    Article  Google Scholar 

  • Boehm DN, Hogan T (2014) ‘A jack of all trades’: The role of PIs in the establishment and management of collaborative networks in scientific knowledge commercialization. J Technol Transfer 39(1):134–149

    Article  Google Scholar 

  • Bourelos E, Magnusson M, McKelvey M (2012) Investigating the complexity facing academic entrepreneurs in science and engineering: The complementarities of research performance, networks and support structures in commercialization. Camb J Econ 36:751–780

    Article  Google Scholar 

  • Bürgel O (2000) The international market entry choices of start-up companies in high-technology industries. J Int Mark 8:33–62

    Article  Google Scholar 

  • Caldera A, Debande O (2010) Performance of Spanish universities in technology transfer: An empirical analysis. Res Policy 39:1160–1173

    Article  Google Scholar 

  • Cannone G, Ughetto E (2014) Born globals: A cross-country survey on high-tech start-ups. Int Bus Rev 23(1):272–283

    Article  Google Scholar 

  • Casillas F, Acedo F (2013) Speed in the internationalization process of the firm. Int J Manag Rev 15:15–29

    Article  Google Scholar 

  • Casillas JC, Moreno-Menéndez AM (2014) Speed of the internationalization process: The role of diversity and depth in experiential learning. J Int Bus Stud 45(1):85–101

    Article  Google Scholar 

  • Cesinger B, Fink M, Madsen TK, Kraus S (2012) Rapidly internationalizing ventures: how definitions can bridge the gap across contexts. Manag Decis 50(10):1816–1842

  • Chang S, Rhee J (2011) Rapid FDI expansion and firm performance. J Int Bus Stud 42:979–994

    Article  Google Scholar 

  • Chetty S, Johanson M, Martín O (2014) Speed of internationalization: conceptualization, measurement and validation. World Development, article in press

  • Clarysse B, Moray N (2004) A process study of entrepreneurial team formation: The case of a research-based spin-off. J Bus Ventur 19:55–79

    Article  Google Scholar 

  • Clarysse B, Wright M, Lockett A, Mustar P, Knockaert M (2007) Academic spin-offs, formal technology transfer and capital raisin. Ind Corp Chang 16(4):609–640

    Article  Google Scholar 

  • Coeurderroy R, Murray G (2008) Regulatory environments and the location decision: Evidence from the early foreign market entries of new-technology-based firms. J Int Bus Stud 39(4):670–687

    Article  Google Scholar 

  • Colombo M, Piva E, Rentocchini F (2012) The effects of incubation on academic and non-academic high-tech start-ups: Evidence from Italy. Econ Innov New Technol 21(5–6):505–527

    Article  Google Scholar 

  • Conceição O, Fontes M, Calapez T (2012) The commercialisation decisions of research-based spin-off: targeting the market for technologies. Technovation 32:43–56

  • Cooper A, Dunkelberg W (1986) Entrepreneurship and paths to business ownership. Strateg Manag J 7:53–68

    Article  Google Scholar 

  • Covin JG, Slevin DP, Covin TJ (1990) Content and performance of growth-seeking strategies: A comparison of small firms in high- and low technology industries. J Bus Ventur 5(6):391–412

    Article  Google Scholar 

  • Cyert RM, March JG (1963) A behavioral theory of the firm. Prentice Hall, Englewood Cliffs

    Google Scholar 

  • D’Este P, Mahdib S, Neelyc A, Rentocchini F (2012) Inventors and entrepreneurs in academia: What types of skills and experience matter? Technovation 32(5):293–303

    Article  Google Scholar 

  • Dahl M, Reichstein T (2007) Are you experienced? Prior experience and the survival of new organizations. Ind Innov 14(5):497–511

    Article  Google Scholar 

  • Dahlstrand A (1997a) Growth and inventiveness in technology-based spin-off firms. Res Policy 26(3):331–344

    Article  Google Scholar 

  • Dahlstrand A (1997b) Entrepreneurial spin‐off enterprises in Göteborg, Sweden. Eur Plan Stud 55(5):659–673

    Article  Google Scholar 

  • Demirbas D, Patnaik I, Shah A (2013) Graduating to globalisation: A study of southern multinationals. Indian Growth Dev Review 6(2):242–259

    Article  Google Scholar 

  • Di Gregorio D, Shane S (2003) Why do some universities generate more start-ups than others? Res Policy 32(2):209–227

    Article  Google Scholar 

  • Etzkowitz H (1998) The norms of entrepreneurial science: Cognitive effects of the new university-industry linkages. Res Policy 27:823

    Article  Google Scholar 

  • Feldman M (2001) The entrepreneurial event revisited: Firm formation in a regional context. Ind Corp Chang 10(4):861–891

    Article  Google Scholar 

  • Fini R, Grimaldi R, Santoni S, Sobrero M (2011) Complements or substitutes? The role of universities and local context in supporting the creation of academic spin-offs. Res Policy 40:1113–1127

    Article  Google Scholar 

  • Freeman S, Reid I (2006) Constraints facing small western firms in transitional markets. Eur Bus Rev 18(3):187–213

    Article  Google Scholar 

  • Gassmann O, Keupp M (2007) The competitive advantage of early and rapidly internationalizing SMEs in the biotechnology industry: A knowledge-based view. J World Bus 42:350–366

    Article  Google Scholar 

  • Genua A, Nesta L (2006) University patenting and its effects on academic research: The emerging european evidence. Res Policy 35:790–807

    Article  Google Scholar 

  • Giblin M, Ryan P (2012) Tight clusters or loose networks? The critical role of inward foreign direct investment in cluster creation. Reg Stud 46(2):245–258

    Article  Google Scholar 

  • Girma S, Kneller R, Pisu M (2005) Exports versus FDI: An empirical test. Rev World Econ 141(2):193–218

    Article  Google Scholar 

  • Goldfarb B, Henrekson M (2003) Bottom-up versus top-down policies towards the commercialization of university intellectual property. Res Policy 32:639–658

    Article  Google Scholar 

  • Hamel G, Prahalad CK (1994) Competing for the future: breakthrough strategies for seizing control of your industry and creating the markets of tomorrow. Harvard Business School Press, Harvard

    Google Scholar 

  • Hauser C, Moog P, Werner A (2012) Internationalization in new ventures—what role do team dynamics play? Int J Entrep Small Bus 15(1):23–38

    Google Scholar 

  • He X, Cui L (2012) Can strong home country institutions foster the internationalization of MNEs? Multinatl Bus Rev 20(4):352–375

    Article  Google Scholar 

  • Helpman E, Melitz MJ, Yeaple SR (2004) Export versus FDI with heterogeneous firms. Am Econ Rev 94(1):300–316

    Article  Google Scholar 

  • Ibeh K, Kasem L (2011) The network perspective and the internationalization of small and medium sized software firms from Syria. Ind Mark Manag 40:358–367

    Article  Google Scholar 

  • Johanson J, Vahlne J-E (1977) The internationalization process of the firm: A model of knowledge development and increasing foreign commitments. J Int Bus Stud 8(1):23–32

    Article  Google Scholar 

  • Johanson J, Vahlne JE (1990) The mechanism of internationalization. International. Mark Rev 7(4):11–24

    Google Scholar 

  • Johnson W-H-A (2008) Roles, resources and benefits of intermediate organizations supporting triple helix collaborative R&D: The case of Precarn. Technovation 28(8):495–505

    Article  Google Scholar 

  • Jones C, Coviello N (2005) Internationalisation: Conceptualising anentrepreneurial process of behaviour in time. J Int Bus Stud 36:284–303

    Article  Google Scholar 

  • Kahiya ET (2013) Export barriers and path to internationalization: A comparison of conventional enterprises and international new ventures. J Int Entrep 11:3–29

    Article  Google Scholar 

  • Kalinic I, Forza C (2012) Rapid internationalization of traditional SMEs: Between gradualist models and born globals. Int Bus Rev 21(4):694–707

    Article  Google Scholar 

  • Knight GA, Cavusgil ST (2004) Innovation, organizational capabilities, and the born-global firm. J Int Bus Stud 35(2):124–141

    Article  Google Scholar 

  • Knockaert M, Lockett B, Clarysse B, Wright M (2006) Do human capital and fund characteristics drive follow-up behaviour of early stage high-tech venture capitalists. Int J Technol Manag 34(1):7–27

    Article  Google Scholar 

  • Krabel S, Siegel D, Slavtchev V (2012) The internationalization of science and its influence on academic entrepreneurship. J Technol Transfer 37:192–212

    Article  Google Scholar 

  • Li L, Qian G, Qian Z (2012) Early internationalization and performance of small high-tech “born-globals”. Int Mark Rev 29(5):536–561

    Article  Google Scholar 

  • Lim, D.; Morse, E.; Mitchell, R.; Seawright, K. (2010) Institutional environment and entrepreneurial cognitions: A comparative business systems perspective. Entrepreneurship: Theory and Practice, pp. 491–516.

  • Lu JW, Beamish PW (2001) The internationalization and performance of SMEs. Strateg Manag J 22(6–7):565–586

    Article  Google Scholar 

  • Luo Y, Zhao J, Du J (2005) The internationalization speed of e-commerce companies: An empirical analysis. Int Mark Rev 22(6):693–709

    Article  Google Scholar 

  • Madsen TK (2013) Early and rapidly internationalizing ventures: Similarities and differences between classifications based on the original international new venture and born global literatures. J Int Entrep 11(1):65–79

    Article  Google Scholar 

  • Markman GD, Gianiodis PT, Phan PH, Balkin DB (2005) Innovation speed: Transferring university technology to market. Res Policy 34(7):1058–1075

    Article  Google Scholar 

  • Martín-Rojas R, García-Morales VJ, Bolívar-Ramos MT (2013) Influence of technological support, skills and competencies, and learning on corporate entrepreneurship in European technology firms. Technovation 33(12):417–430

    Article  Google Scholar 

  • McDougall PP, Oviatt BM (1996) New venture internationalization, strategic change, and performance: A follow-up study. J Bus Ventur 11(1):23–40

    Article  Google Scholar 

  • McDougall P, Oviatt B, Shrader R (2003) A comparison of international and domestic new ventures. J Int Entrep 1:59–82

    Article  Google Scholar 

  • Mukherjee D, Gaur AS, Gaur SS, Schmid F (2013) External and internal influences on R&D alliance formation: Evidence from German SMEs. J Bus Res 66(11):2178–2185

    Article  Google Scholar 

  • Müller K (2010) Academic spin-off’s transfer speed—analyzing the time from leaving university to venture. Res Policy 39(2):189–199

    Article  Google Scholar 

  • Musteen M, Francis J, Datta D (2010) The influence of international networks on internationalization speed and performance: A study of Czech SMEs. J World Bus 45(3):197–205

    Article  Google Scholar 

  • O’Shea R, Allen T, Chevalier A, Roche F (2005) Entrepreneurial orientation, technology transfer and spinoff performance of U.S. universities. Res Policy 34:994–1009

    Article  Google Scholar 

  • O’Shea R, Chug H, Allen E (2008) Determinants and consequences of university spinoff activity: A conceptual framework. J Technol Transfer 33:653–666

    Article  Google Scholar 

  • Oberhofer H, Pfaffermayr M (2012) FDI versus exports: Multiple host countries and empirical evidence. World Econ 35(3):316–330

    Article  Google Scholar 

  • Ortín-Ángel P, Vendrell-Herrero F (2014) University spin-offs vs. other NTBFs: Total factor productivity differences at outset and evolution. Technovation 34(2):101–112

    Article  Google Scholar 

  • Osarenkhoe A (2009) An integrated framework for understanding the driving forces behind non-sequential process of internationalization among firms. Bus Process Manag J 15(2):286–316

    Article  Google Scholar 

  • Oviatt BM, McDougall PP (1994) Toward a theory of international new ventures. J Int Bus Stud 25(1):45–64

  • Oviatt B, McDougall P (2005) Defining international entrepreneurship and modeling the speed of internationalization. Enterp Theory Pract 29(5):537–553

    Article  Google Scholar 

  • Owen-Smith J, Powell W (2003) The expanding role of university patenting in the life sciences: Assessing the importance of experience and connectivity. Res Policy 32:1695–1711

    Article  Google Scholar 

  • Pazos D, López S, González L, Sandiás A (2012) A resource-based view of university spin-off activity: New evidence from the Spanish case. Rev Eur Dirección Econ Empresa 21:255–265

    Google Scholar 

  • Peiris IK, Akoorie M, Sinha P (2012) International entrepreneurship: a critical analysis of studies in the past two decades and future directions for research. J Int Entrep 10:279–324

  • Pettersen I, Tobiassen A (2012) Are born globals really born globals? The case of academic spin-offs with long development periods. J Int Entrep 10(2):117–141

    Article  Google Scholar 

  • Pinkwart A, Proksch D (2014) The internationalization behavior of German high-tech start-ups: An empirical analysis of key resources. Thunderbird Int Bus Rev 56(1):43–53

    Article  Google Scholar 

  • Pla-Barber J, Escribá-Esteve A (2006) Accelerated internationalization: evidence from a late investor country. Int Mark Rev 23(3):255–78

    Article  Google Scholar 

  • Politis D, Gabrielsson J, Shveykina O (2012) Early-stage finance and the role of external entrepreneurs in the commercialization of university-generated knowledge. Ventur Cap: An Int J Entrep Finan 14(2–3):175–198

    Article  Google Scholar 

  • Prashantham S, Young S (2011) Post-entry speed of international new ventures. Enterp Theory Pract 35(2):275–293

    Article  Google Scholar 

  • Ramos E, Acedo F, Gonzalez R (2011) Internationalization speed and technological patterns: A panel data study on Spanish SMEs. Technovation 31(10–11):560–572

    Article  Google Scholar 

  • Rasmussen E (2005) The process of new venture creation in a university setting. Proceeding from the conference: accompanying measures & survival of new firms: between Darwinism & Assistance, Montpellier, France

  • Rialp A, Rialp J, Knight G (2005a) The phenomenon of early internationalizing firms: What do we know after a decade (1993–2003) of scientific inquiry? Int Bus Rev 14:147–166

    Article  Google Scholar 

  • Rialp A, Rialp J, Urbano D, Vaillant Y (2005b) The born-global phenomenon: A comparative case study research. J Int Entrep 3(2):133–171

    Article  Google Scholar 

  • Ribeiro F, Oliveira M, Borini F (2012) Accelerated internationalization of technology-based firms: The case of Brazilian born-globals. Rev Adm Contemp 16(6):866–888

    Article  Google Scholar 

  • Ripollés-Meliá M, Menguzzato-Boulard M, Sánchez-Peinado L (2007) Business motivation and informational needs in internationalization. J Int Entrep 9(3):195–212

    Google Scholar 

  • Salvador E (2010) Are science parks and incubators good “brand names” for spin-offs? The case study of Turin. J Technol Transfer 36:203–232

    Article  Google Scholar 

  • Sapienza H, Autio E, George G, Zahra S (2006) A capabilities perspective on the effects of early internationalization on firm survival and growth. Acad Manag Rev 31(4):214–233

  • Shane S (2004) Academic entrepreneurship: University spin-offs and wealth creation. Edward Elgar, Cheltenham

    Book  Google Scholar 

  • Shane S, Stuart T (2002) Organizational endowments and performance of university start-ups. Manag Sci 48:154–170

    Article  Google Scholar 

  • Shrader, R.; Siegel, D. (2007) Assessing the relationship between human capital and firm performance: Evidence from technology-based new ventures. Entrepreneurship: Theory and Practice, pp. 893–908.

  • Singh D, Gaur A, Schmid F (2010) Corporate diversification, TMT experience, and performance: evidence from German SMEs. Manag Int Rev 50(1):35–56

  • Sleuwaegen L, Onkelinx J (2014) International commitment, post-entry growth and survival of international new ventures. J Bus Ventur 29(1):106–120

    Article  Google Scholar 

  • Smolarski J, Kut C (2011) The impact of venture capital financing method on SME performance and internationalization. Int Entrep Manag J 7:39–55

    Article  Google Scholar 

  • Stephen P, Gurmu S, Sumell A, Black G (2007) Who’s patenting in the university? Evidence from the survey of doctorate recipients. Econ Innov N Technol 16(2):71–99

    Article  Google Scholar 

  • Sternberg R (2014) Success factors of university-spin-offs: Regional government support programs versus regional environment. Technovation 34(3):137–148

    Article  Google Scholar 

  • Styles C, Genua T (2008) The rapid internationalization of high technology firms created through the commercialization of academic research. J World Bus 43:146–157

    Article  Google Scholar 

  • Taylor M, Jack R (2013) Understanding the pace, scale and pattern of firm internationalization: An extension of the ‘born global’ concept. Int Small Bus J 31(6):701–721

    Article  Google Scholar 

  • Teixeira AAC, Barros MJ (2014) Decentralization of public policies for the promotion of SMEs’ internationalization. a theoretical account. Rev Port Estud Regionais 35(1):15–27

    Google Scholar 

  • Tödtling F, Lengauer L, Trippl M (2008) Start-ups and innovation in the Vienna ICT sector: How important is the local cluster? Int J Serv, Technol Manag 10(2–4):299–317

    Article  Google Scholar 

  • van Burg E, van Oorschot KE (2013) Cooperating to commercialize technology: A dynamic model of fairness perceptions, experience, and cooperation. Prod Oper Manag 22(6):1336–1355

    Article  Google Scholar 

  • Vermeulen F, Barkema H (2002) Pace, rhythm and scope: process dependence in building a profitable multinational corporation. Strateg Manag J 23:637–653

    Article  Google Scholar 

  • Visintin F, Pittino D (2014) Founding team composition and early performance of university-based spin-off companies. Technovation 34(1):31–43

    Article  Google Scholar 

  • Vohora A, Wright M, Lockett A (2004) Critical junctures in the development of university high-tech spinout companies. Res Policy 33(1):147–175

    Article  Google Scholar 

  • Wagner H (2004) Internationalization speed and cost efficiency: Evidence from Germany. Int Bus Rev 13(4):447–463

    Article  Google Scholar 

  • Westhead P, Wright M, Ucbasaran D (2001) The internationalization of new and small firms: A resource-based view. J Bus Ventur 16:333–358

    Article  Google Scholar 

  • Williams, B.; Figueiredo, J. (2011) Strategy and technology management: An innovation-leader case study. Technology Management Conference (ITMC), CEG-IST Lisbon.

  • Wright M, Clarysse B, Lockett A, Knockaert M (2008) Mid-range universities’ linkages with industry: Knowledge types and the role of intermediaries. Res Policy 37:1205–1223

    Article  Google Scholar 

  • Yli-Renko HK, Autio E, Tontti V (2002) Social capital, knowledge, and the international growth of technology-based new firms. Int Bus Rev 11:279–304

    Article  Google Scholar 

  • York AS, Ahn MJ (2012) University technology transfer office success factors: A comparative case study. Int J Technol Transf Commer 11(1/2):26–50

    Google Scholar 

  • Zahra SA, Garvis DM (2000) International corporate entrepreneurship and firm performance: The moderating effect of international environmental hostility. J Bus Ventur 15(5/6):469–492

    Article  Google Scholar 

  • Zahra SA, George G (2002) International entrepreneurship: The current status of the field and future research agenda. In: Hitt MA, Ireland RD, Camp SM, Sexton DL (eds) Strategic entrepreneurship: Creating a new mindset. Blackwell, Oxford, pp 255–288

    Google Scholar 

  • Zhou L, Wu A (2014) Earliness of internationalization and performance outcomes: Exploring the moderating effects of venture age and international commitment. J World Bus 49(1):132–142

    Article  Google Scholar 

  • Zucchella A, Siano A (2014) Internationalization and innovation as resources for SME growth in foreign markets: A focus on textile and clothing firms in the Campania region. Int Stud Manag Organ 44(1):21–41

    Article  Google Scholar 

  • Zucchella A, Palamara G, Denicolai S (2007) The drivers of the early internationalization of the firm. J World Bus 42:268–280

    Article  Google Scholar 

Download references

Acknowledgments

We sincerely acknowledge the four referees and the editor who provided insightful comments and valuable suggestions that helped to substantially improve the structure and content of the paper. We are also indebted to technology transfer officers and USO founders for their valuable collaboration. The first author acknowledges the support of the University Technology Enterprise Network (UTEN), a component of the UT Austin|Portugal Program founded by the Portuguese Foundation for Science and Technology (FCT).

Author information

Authors and Affiliations

  1. Faculdade de Economia, Universidade do Porto, R. Dr. Roberto Frias, 4200-464, Porto, Portugal

    Aurora A.C. Teixeira & Cátia Coimbra

Authors
  1. Aurora A.C. Teixeira
    View author publications

    You can also search for this author in PubMed Google Scholar

  2. Cátia Coimbra
    View author publications

    You can also search for this author in PubMed Google Scholar

Corresponding author

Correspondence to Aurora A.C. Teixeira.

Additional information

Summary Highlights

Contributions: This study adds empirical evidence to the research on the determinants of internationalization speed of university spin-offs (USOs).

Research questions/purpose: To provide a quantitative assessment of the determinants of the internationalization speed of USOs.

Results/findings: (1) The internationalization speed of USOs is critically dependent on the support of technology transfer offices (TTOs); (2) younger USOs tend to be in a better position to internationalize earlier than older USOs; and (3) high R&D intensive USOs are generally laggards in terms of internationalization.

Theoretical implications and recommendations: This study extends the arguments from a broad-based international entrepreneurship perspective to emphasize the role that TTOs play on early internationalization.

Practical implications and recommendations: Entrepreneurs should consider the potential that TTOs have for an earlier internationalization of USOs. Public authorities should stimulate the contact between USOs and the available S&T infrastructure, by promoting events and activities that put these two groups interacting with each other.

Appendix

Appendix

Table 4 Means and correlations
Full size table

Rights and permissions

Reprints and permissions

About this article

Check for updates. Verify currency and authenticity via CrossMark

Cite this article

Teixeira, A.A., Coimbra, C. The determinants of the internationalization speed of Portuguese university spin-offs: An empirical investigation. J Int Entrep 12, 270–308 (2014). https://doi.org/10.1007/s10843-014-0132-6

Download citation

  • Published:

  • Issue Date:

  • DOI: https://doi.org/10.1007/s10843-014-0132-6

Keywords

JEL Classification

Search

Navigation