Market Orientation, Performance and Innovation in Research Based Spin Offs

The present paper tries to advance knowledge on the relationship between Market Orientation (MO) and business performance in the specific context of Research Based Spin Offs (RBSOs). Marketing literature have already examined the concept of Market Orientation, highlighting the effect of MO on business performance, generally showing a positive link. Most of the studies are focused on larger firms, while less attention has been given to small and medium sized enterprises (SMEs) and even less have been devoted to new high tech ventures. The aim of the present paper is therefore to fill such gap in the literature, examining MO and its effects on business performance in Research Based Spin Offs. A review of the extant literature is used to explore the conceptual frameworks already developed by scholars and discuss their appropriateness in the context of new tech ventures originated by Universities’ laboratories and/or public research centres. An ad hoc framework is therefore adopted for validation on a sample of Italian RBSOs. The results show that MO has indeed an impact on business performance, in particular, some of its components, and provide knowledge regarding the activities undertaken by RBSOs in the area of MO. This contribution presents some valuable research implications, useful for researchers and academics, but also professionals from new high tech ventures and technology transfer offices may use this knowledge to plan and design market-focussed actions and support activities that will lead to improved business performance.