Archives
Technology Transfer
The Klofsten Business Platform as a self-diagnostic tool for new technology-based small firms
John Yencken
Research Fellow, Australian Graduate School of Entrepreneurship, Swinburne University of Technology, Melbourne VIC
Murray Gillin
Emeritus Professor, Australian Graduate School of Entrepreneurship, Swinburne University of Technology, Melbourne VIC
Abstract
This paper first reviews available instruments that might be used by new technology-based small firms (NTSFs) as self-diagnostic tools to assess their positioning and plan their future development strategies. It makes a clear distinction between tools that are for self-diagnostic internal use by such ventures and the more established tools, such as Timmons 'fatal flaw analysis' and Bell-Mason, designed to assist venture capital investors in decisions whether to invest or not in a new company.
The paper then analyses the application of the Klofsten Business Platform with its eight Cornerstones as a comparative diagnostic tool in over twenty case studies to the understanding of the early stages of development of new technology-based spin-off ventures from Australian and Scottish universities. The analysis is longitudinal over a period of up to six years for surviving companies. Survival rates for the sample have been compared with overall survival rates of spin-off and other new ventures in Australia.
Keywords
entrepreneurship, innovation, spin-offs, new business survival
References
ABS (1997) Cat. No. 8144.0 Business Exits Australia.. Canberra: Australian Bureau of Statistics.
ABS (2005) Cat. No.8160.0.55.001 Experimental Estimates of Business Entries and Exits, Australia. Canberra: Australian Bureau of Statistics.
Australian Research Council, CSIRO and National Health and Medical Research Council (2002) National Survey of Research Commercialisation 2000. Canberra: Australian Research Council.
Bell CG and Mason HB (1991) A method to diagnose high tech ventures. Technology Management: the New International Language 1991: 621-624.
Bhidé AF (2000) The Origin and Evolution of New Businesses, Oxford: Oxford University Press.
Davidsson P and Klofsten M (2003) The Business Platform: Developing an Instrument to Gauge and to assist the Development of Young Firms. Journal of Small Business Management 41: 1-26.
Davidsson P (1991) Continued entrepreneurship: Ability, need, and opportunity as determinants of small firm growth. Journal of Business Venturing 91(6): 405.
Degroof J-J and Roberts EB (2003) Spinning off new ventures from academic institutions in areas with weak entrepreneurial infrastructure: Insight on the impact of spin-off processes on the growth-orientation of ventures. Working Paper 4311-03. Boston: MIT Sloan School of Management.
Eisenhardt KM (1989) Building Theories from Case Research. Academy of Management Review 14: 532-550.
Hierman A and Clarysse B (2004) The Initial Resources And Market Strategy To Create High Growth Firms: Working Paper Steunpunt 0I. Gent, Belgium: Vlerick Leuven Gent Management School.
Hindle K and Yencken J (2004) Public Research Commercialisation, Entrepreneurship and New Technology Based Firms: An Integrated Model. Technovation 24: 793-813.
Klofsten M (1998) The Business Platform: Entrepreneurship and management in the early stages of a firm's development, Luxembourg: TII - European Association for the Transfer of Technologies, Innovation and Industrial Information.
Klofsten M (2005) New Venture Ideas: An Analysis of their Origin and Early Development. Technology Analysis & Strategic Management 17: 105-119.
Mainprize and Hindle (2003) Toward the standardization of venture capitali nvestment evaluation: decision criteria for rating investee business plans. Frontiers for Entrepreneurship Research 2002. Xiii. Venture Capital 23, Boston: Babson College.
Mason C and Stark M (2002) 'What do investors look for in a business plan? A comparison of bankers, venture capitalists and business angels.' Paper presented at the 25th ISBA National Small Firms Policy and Research Conference Competing Perspectives of Small Business and Entrepreneurship 25th ISBA National Small Firms Conference: Competing Perspectives of Small Business and Entrepreneurship. Wetherby, UK: International Small Business Association.
Miles MB and Huberman AM (1994) Qualitative Data Analysis: An Expanded Source Book, Thousand Oaks: SAGE Publications.
Mustar P (1997) How French academics create hi-tech companies. Science and Public Policy 24: 1,17-43.
Stankiewicz R (1994) University firms: spin-off companies from universities. Science and Public Policy 21: 99-107.
Thorburn L (1997) Technology Transfer Through Spinoff Companies: CSIRO - 1985 to 1995. Canberra: CSIRO.
Timmons JA (1994) New venture creation: entrepreneurship for the 21st century 4th edn. Burr Ridge, Ill: Irwin..
Upstill G and Symington D (1999) Generating New Companies from CSIRO Technology. Canberra: CSIRO.
Yencken J (2005) An Australian Model for Spin-off Companies in the Commercialisation of University and Other Public Sector Research, Thesis for PhD Degree. Melbourne: Swinburne University of Technology
Yencken J and Gillin M (2002) Australian University Spin-off Companies: Attitudes, Policies and Companies. An AGSE Research Paper edn, Melbourne: Australian Graduate School of Entrepreneurship at Swinburne University of Technology Research Paper.
Yin RK (1994) Case Study Research: Design and Methods 2nd edn. Thousand Oaks, CA USA: SAGE Publications.
eContent Home
