ABSTRACT
Hayter (2013, forthcoming) finds, for example, that the strong, relatively closed networks among faculty entrepreneurs can negatively impact the success of university spinoffs, which require vital resources such as early-stage capital and new technologies that lie beyond academic circles. Long academic careers do not typically afford the experience or networks needed to successfully commercialize a new technology (Radosevich 1995; Franklin, Wright, and Lockett 2001; Murray 2004; Hayter 2013). Conversely, university scientists who have personal strategic alliances with industry, receive industry funding, or possess industry experience have a higher propensity to patent, license, and establish a university spinoff (Roberts 1991; Audretsch, Lehmann, and Warning 2005; Dietz and Bozeman 2005; Gulbrandsen and Smeby 2005; O’Gorman, Byrne, and Pandya 2008).
