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Spin-offs, stages of growth and funding issues: Some UK evidence

Ullah, Farid; Akbar, Saeed; Taylor, Peter


Farid Ullah

Saeed Akbar

Peter Taylor


This paper explores funding issues at the early development stages of Technology-Based Small Firms (TBSFs) spun-out from universities, non-university research organisations and parent companies. This paper presents empirical evidence for the UK, derived from an extensive online questionnaire survey. The sample consists of 53 spin-offs representing a subsample of 133 TBSFs. The sample is divided into three subcategories, university, non-university and parent company spin-offs. The results suggest that high technology small firms which have spun-off from other organisations may have particular needs for finance and that these may change as they develop through the early stages of development. The results further suggest that there are funding heterogeneities among university, non-university and parent company spin-offs. This paper presents evidence on these issues and suggests differences in the experience of various types of spin-off TBSFs both in terms of economic performance and financing. Copyright © 2007 Inderscience Enterprises Ltd.


Ullah, F., Akbar, S., & Taylor, P. (2007). Spin-offs, stages of growth and funding issues: Some UK evidence. International journal of entrepreneurship and innovation management, 7(6), 524-540.

Journal Article Type Article
Acceptance Date Jan 1, 2007
Online Publication Date Jul 17, 2007
Publication Date Oct 8, 2007
Deposit Date Sep 18, 2018
Journal International Journal of Entrepreneurship and Innovation Management
Print ISSN 1368-275X
Electronic ISSN 1741-5098
Publisher Inderscience
Peer Reviewed Peer Reviewed
Volume 7
Issue 6
Pages 524-540
Public URL
Publisher URL