Percorsi di sviluppo e performance delle imprese spin off della ricerca: risultati di una analisi longitudinale sugli spin off dell'Università di Genova

In spite of the importance acknowledged by national and local governments to research-based spin-offs (RBSOs) as a means for technology transfer, the analysis of their performance does not allow for a well-defined assessment of their actual role as drivers of local economic development. Several studies have demonstrated that RBSOs, especially those based in the EU, show high survival rates but a slow growth as compared to US new technology ventures. Grounded on this mainstream assumption, our paper aims at getting a better understanding of these patterns, focusing on the conditions that may affect the RBSOs’ survival in spite of their low performance. To this end, our paper deals with RBSOs set up by the University of Genoa, and still active as of 31/12/2013. An empirical analysis was carried out to assess RBSOs financial performance, their profitability, and their growth relative to their lifespan. By offering a detailed picture based on the analysis of their performances, strategic resources and entrepreneurial profiles, our paper aims to provide evidence of this common trend and a deeper insight into this kind of “low performance sustainability”. It also investigates the conditions under which these firms can survive but do not thrive.