University spin-off's performance: Capabilities and networks of founding teams at creation phase

T. Huynh, D. Patton, D. Arias-Aranda, L.M. Molina-Fernández

Research output: Contribution to journalArticlepeer-review

51 Citations (Scopus)
93 Downloads (Pure)


The extant literature highlights that environmental conditions, during the creation phase, imprint on a start-up's survival and growth. However, there are few studies that explore the composite nature of a founding team's capabilities and networks, developed within this phase, and the contribution made to future performance. This paper uses the distinctive context of university spin-offs, where early stage ventures are fostered by institutional interventions, to analyse the influence that the capabilities and networks of a founding team, at incorporation, have upon the future performance of the spin-off. Based on data from 181 university spin-offs, this paper empirically demonstrates that the entrepreneurial capabilities of a founding team, augmented during the ‘creation’ phase, have a positive influence on the performance of a spin-off during the ‘growth’ phase, and that the networks of a founding team indirectly affect a spin-off's performance through the enhancement of a team's entrepreneurial capabilities.
Original languageEnglish
Pages (from-to)10-22
Number of pages13
JournalJournal of Business Research
Early online date2 May 2017
Publication statusPublished - 1 Sept 2017
Externally publishedYes


  • University spin-offs
  • Founding teams
  • Entrepreneurial capabilities
  • Networks
  • Incubation


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