Analysis of Research-Based Spin-Off Formation in Greater China
Student thesis: Doctoral Thesis
Related Research Unit(s)
Research-based spin off (RBSO) has been recognised as a relatively more successful route to commercialisation of early stage technology than conventional technology licensing, and the spin offs have showed a better growth rate in terms of revenue and employment. After a number of successful RBSOs have impressed the world, the techno-entrepreneur phenomenon has become a breeze that has swept back to Greater China in recent years. Governments in the region have provided abundant resources to facilitate and generate the RBSO, however, there is a research gap on the understanding of how the RBSO formation process unfolds and what kind of enabling factors can lead to a better performance of RBSOs under the context of public research organisations (PRO) in Greater China. To bridge this research gap, this dissertation designs, implements and evaluates RBSOs and the parent organisations to determine the formation processes and applicable enabling factors in Greater China. Fourteen enabling factors have been identified (1. Clear policy, guidelines and procedures; 2. Concise spin-off milestones with delicate teams to support; 3. Entrepreneurial culture; 4. Capable facilities (ie. labs, equipments); 5. Supporting system to build IPRs; 6. Rigorous R&D project execution practices; 7. Execute R&D projects with commercial mindset; 8. Coaching or mentorship; 9. Professional training/seminar for technological entrepreneurs; 10. Competent business development staff; 11. Access to finance and capital; 12. Financial support and consulting; 13. Link up with business partners; and 14. Link up with professional partners) under five categories of resources (1) Organisational, (2) Technological, (3) Human capital, (4) Financial, and (5) Network. In order to be able to consolidate PROs efforts and resources on the most significant factors, prioritisation of enabling factors is made explicit. The findings of this thesis indicate that the RBSO formation process is aligned with general stage mode of startup creation. Through the Fuzzy AHP research techniques, the most important factors are identified - 'Access to finance and capital', 'Financial support and consulting', 'Execute R&D project with commercial mindsets' comprise 63.8% of the total weighting. By using these priorities, PROs are able to develop an improvement strategy for resource provision and to increase efficiency and effectiveness in resource allocation decisions.