Growth’s determinants of academic spin-offs
Academic spin-offs (ASOs) have developed considerably in France since the 2000s. However, despite a strong increase in the number of new ventures, little is known about their ability to experience growth and to sustain it beyond the five first years. Based on a sample of 118 French ASOs from the same generation, this article analyses the factors that determine their growth just after their 5th year. These factors are derived from the resource-based view (RBV) and the dynamic capabilities approach (DCA). The results of our quantitative study show that 5 factors determine growth of ASOs after the 5th year : entrepreneurial orientation (and broader cognitive resources), the acquisition of skills along the entrepreneurial process, the amount of public and private financing, the technological capability and the support program.