Stimulation of technology-based small firms—A case study of university-industry cooperation

Abstract

It is well known that owner-managers of technology-based firms usually have superior technical skills but are less competent in the area of business development. Consequently, in order to address these weaknesses, it has been suggested that an important part of support activities for these firms should be oriented towards the development of their management and business competences. As such, this paper describes a successful model which has been developed over a 10-year period to stimulate the growth and development of small technology-based firms. Four types of interrelated activities are in operation: entrepreneurship and new business development programmes, development programmes, management groups, and club/networking activities. The success of these stimulating activities can, above all, be related to five factors: an ability to meet real needs, a core group, a clear focus, credibility, and close relations between the stimulation organization and the university. One important task for researchers and practitioners is to understand the mechanisms behind these criteria for success.