Do Hybrid Goals Pay off? Social and Economic Goals in Academic Spin‐Offs

New ventures often pursue both economic and social goals, known as goal hybridity. Yet, we know less about how organizational hybridity influences the performance governance of new ventures. Goal is common among academic spin-offs (ASOs) seeking to commercialize scientific research from universities. We hypothesize that ASOs’ their subsequent structure. also ASOs who enrol multiple stakeholders with investment goals aligned hybrid outperform do not. By combining several data sources, follow Norwegian longitudinally find explains differences, such relying on aspects business when formulating those rely purely or goals. they are Our findings have implications for theorizing in hybridity, stakeholder enrolment, literatures. provide a fuller understanding heterogeneity ASOs, offer set practice policy entrepreneurship public-private partnership