Competing risk model for predicting stabilization period of university spin-off ventures

Joon Hyung Cho, So Young Sohn

Research output: Contribution to journalArticlepeer-review

6 Citations (Scopus)


University spin-offs (USOs) are considered as a means of value creation derived from academic research. However, due to financial and managerial constraints, many USOs find it difficult to maintain their business and achieve stabilization. In this study, we investigate the factors affecting the time taken by USOs to reach their break-even point or to secure initial investment from venture capitals, whichever comes earlier. We specifically examine the effect of knowledge diversity, experiential knowledge, intellectual property, and the communication capacity of the USO founders on the time taken to reach stabilization. A competing risk model is applied to the survey data of USO founders in Korea. According to our findings, knowledge diversity, experiential knowledge, and communication capacity are significantly related to the time taken to reach the break-even point. Knowledge diversity, intellectual property, and communication capacity, on the other hand, are associated with the time taken to receive initial investment from venture capitals. Our study can contribute toward deriving strategies for USOs to increase their stabilization speed.

Original languageEnglish
Pages (from-to)777-796
Number of pages20
JournalInternational Entrepreneurship and Management Journal
Issue number3
Publication statusPublished - 2017 Sept 1

Bibliographical note

Funding Information:
This work was supported by the National Research Foundation of Korea (NRF) grant funded by the Korea government (MSIP) (2016R1A2A1A05005270).

Publisher Copyright:
© 2016, Springer Science+Business Media New York.

All Science Journal Classification (ASJC) codes

  • Management Information Systems
  • Management of Technology and Innovation


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