A Knowledge-based Categorization of Research-based Spin-off Creation

In this paper we argue for the need of sector contextualization to achieve a better understanding of new venture activities aimed at commercializing university generated knowledge. From this perspective, we contend that an analysis of the creation of research-based spin-offs (RBSOs) must take place within a context of the specific knowledge base around which the new venture is formed. Two distinct knowledge bases are identified: analytical (science-based) knowledge and synthetic (engineering-based) knowledge. Propositions related to the processes governing the creation of RBSOs are developed, depending on whether the opportunity around which the new venture is formed has an analytical or a synthetic knowledge base. This means that we see the formation and early development of RBSOs as a historically determined heterogeneous trajectory, where differences in the underlying knowledge base may significantly affect the new venture creation process.