Abstract
Achieving first sales constitutes a major milestone in new venture development, especially university spin-offs that may face lengthy product development times. Using a resource dependence lens, we examine four different contexts (university, firm resources, technology and industry) to understand the time to first sales among a population of university spin-offs in Norway from 1999 to 2012. We find that the type of owner, the background of the university, the resources dedicated towards labor, and possessing patents helps speed the time to market. Our results help shed new light on inconsistent performance patterns of spin-offs, address how technology based firms can speed their time to market, and how varying contexts affect spin-off development. Implications for future research are discussed.
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