Research universities continually struggle with issues related to commercialization of faculty research. Increasingly, they must hire and support faculty conducting cutting-edge science, but also facilitate commercialization of their research. Many universities provide resources to faculty through venture labs and/or entrepreneurial sabbaticals. The topic has been front and center for decades, ...

This paper aims to better understand the development of entrepreneurial competencies to create new ventures within the non-commercial academic environment. We build upon the evolutionary perspective considering where resources come from to help define these competencies and explain their paths of development. The study follows the creation and early growth of four university spin-offs within th...

Startup is considered the most difficult time in a venture’s life. It is a period when critical decisions must be made about how to structure, position and finance the venture, amidst the greatest level of uncertainty the firm may ever face. Successfully managing under such uncertainty requires that the entrepreneurial team either possess extraordinary skills or utilize the expertise of outside...

Identifying and nurturing entrepreneurial potential among youth can have long-term implications for American economic development. Prior research has not addressed whether education and enterprise experience will affect the development of entrepreneurial talent prior to the collegiate level. This research concludes that entrepreneurship education and enterprise experience can affect characteris...

Effectual entrepreneurship research has played a big role in deepening the understanding of the entrepreneurial process. While effectuation theory has originally been focused on discovering entrepreneurial opportunities and the early creation of new venture, it may well have applications also in the phase where companies open new international markets. This study first compares effectuation the...

In this paper, we study the transition from planned venture to operational start-up in the emergent independent power sector. While planned ventures face tremendous obstacles in assembling the resources necessary to begin operations, we hypothesize and show that formal certification from authorized actors increases the likelihood of making this transition. Moreover, we find that the effects of ...

We develop a process model of how users, an understudied source of entrepreneurship, create, evaluate, share, and commercialize their ideas. We compare and contrast our model to the classic model of the entrepreneurial process, highlighting the emergent and collective nature of the user’s entrepreneurial process. Users are often ‘accidental’ entrepreneurs who happen upon an idea through their o...

Several studies have confirmed that growth ventures are often established and managed by teams rather than by a single person. However, despite the significance of their impact on their firms’ performance, relatively little is known about entrepreneurial (or venture) teams in terms of the processes of assembling and maintaining an effective team. Fourteen top teams were interviewed over the pas...

In this paper, we extend information economics to the literature on R&D alliance partner selection by showing the different ways in which venture capitalists (VCs) shape entrepreneurial ventures’ partner selection decisions for R&D collaborations. Specifically, we advance the argument that affiliations with VCs can play a dual role in reducing the risk of adverse selection for R&D collaboration...

This paper addresses the fundamental requirements for starting an online business. It covers the process of ideation, conceptualization, formulation, and implementation of new venture ideas on the Web. Using Facebook as an illustrative example, we learn how to turn an idea into a successful electronic business and to execute a business plan with IT skills, management expertise, a good entrepren...