A market for ideas intermediator framework for academic spin-off companies: expanding understanding of the commercialization of technology

Academic spin-off companies have attracted the attention of public policy, universities, and research technology organizations as the most effective mechanism for research commercialization and technology transfer from research institutions and universities. Spin-offs can be considered intermediators in the market for ideas as spin-off development models may contemplate mergers and acquisitions with established companies. This paper follows a mixed method approach and explores both primary and secondary data, as well as the complementarity of two analytical units (academic spin-off case studies and technology assessment discussions) in an action-based study with different research groups to capture the pre-spin-off stage rationale. The paper proposes a framework to describe the micro-foundations of the generation of academic spin-offs. Considering the concepts of technology intermediation, the framework contextualizes the market for ideas and takes a process view of innovation. The fragmented and distributed R&D chain provides insight into efficiency in technology and technological knowledge commercialization.