Imperial College London
Portrait Picture

Bart Clarysse (visiting)

Business School

Chair in Entrepreneurship
 
 
 
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Contact

 

+44 (0)20 7594 9850b.clarysse

 
 
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Location

 

389Business School BuildingSouth Kensington Campus

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Summary

 

Publications

Publication Type
Year
to

90 results found

Spithoven A, Clarysse B, Knockaert M, 2011, Building absorptive capacity to organise inbound open innovation in traditional industries, 19th ISPIM Annual Conference, Publisher: ELSEVIER, Pages: 10-21, ISSN: 0166-4972

Conference paper

CLARYSSE B, WRIGHT M, VANDEVELDE E, 2010, Entrepreneurial Origin, Technological Knowledge and the Growth of Spin-off Companies

We contribute to the literature on corporate spin-offs and university spin-offs byexploring how different characteristics in the technological knowledge base at start-upinfluence spin-off performance. We investigate how the technological knowledgecharacteristics endowed at start-up predict growth, taking into account whether theknowledge / technology is transferred from a corporation or university. We use anovel, hand-collected dataset involving 48 corporate and 73 university spin-offs,comprising the population of spin-offs in Flanders during 1991-2002. We findcorporate spin-offs grow most if they start with a specific narrow-focused technologysufficiently distinct from the technical knowledge base of the parent company andwhich is tacit. University spin-offs benefit from a broad technology which istransferred to the spin-off. Novelty of the technical knowledge does not play a role incorporate spin-offs, but has a negative impact in university spin-offs unlessuniversities have an experienced technology transfer office to support the spin-off.

Working paper

Knockaert M, Wright M, Clarysse B, Lockett Aet al., 2010, Agency and similarity effects and the VC's attitude towards academic spin-out investing, JOURNAL OF TECHNOLOGY TRANSFER, Vol: 35, Pages: 567-584, ISSN: 0892-9912

Journal article

Knockaert M, Wright M, Clarysse B, Lockett Aet al., 2010, Agency and similarity effects and the VC’s attitude towards academic spin-out investing, The Journal of Technology Transfer, Vol: 35, Pages: 567-584

Journal article

Knockaert M, Clarysse B, Wright M, 2010, The extent and nature of heterogeneity of venture capital selection behaviour in new technology-based firms, R & D MANAGEMENT, Vol: 40, Pages: 357-371, ISSN: 0033-6807

Journal article

Bruneel J, Yli-Renko H, Clarysse B, 2010, LEARNING FROM EXPERIENCE AND LEARNING FROM OTHERS: HOW CONGENITAL AND INTERORGANIZATIONAL LEARNING SUBSTITUTE FOR EXPERIENTIAL LEARNING IN YOUNG FIRM INTERNATIONALIZATION, STRATEGIC ENTREPRENEURSHIP JOURNAL, Vol: 4, Pages: 164-182, ISSN: 1932-4391

Journal article

Spithoven A, Frantzen D, Clarysse B, 2010, Heterogeneous Firm-Level Effects of Knowledge Exchanges on Product Innovation: Differences between Dynamic and Lagging Product Innovators*, JOURNAL OF PRODUCT INNOVATION MANAGEMENT, Vol: 27, Pages: 362-381, ISSN: 0737-6782

Journal article

Spithoven A, Clarysse B, Knockaert M, 2010, Building absorptive capacity to organise inbound open innovation in traditional industries, TECHNOVATION, Vol: 30, Pages: 130-141, ISSN: 0166-4972

Journal article

Knockaert M, Spithoven A, Clarysse B, 2010, The knowledge paradox explored: what is impeding the creation of ICT spin-offs?, TECHNOLOGY ANALYSIS & STRATEGIC MANAGEMENT, Vol: 22, Pages: 479-493, ISSN: 0953-7325

Journal article

Clarysse B, Wright M, Mustar P, 2009, Behavioural additionality of R&D subsidies: A learning perspective, RESEARCH POLICY, Vol: 38, Pages: 1517-1533, ISSN: 0048-7333

Journal article

Clarysse B, Mosey S, Lambrecht I, 2009, New Trends in Technology Management Education: A View From Europe, ACADEMY OF MANAGEMENT LEARNING & EDUCATION, Vol: 8, Pages: 427-443, ISSN: 1537-260X

Journal article

Knockaert M, Ucbasaran D, Wright M, Clarysse Bet al., 2009, How does tacit knowledge transfer influence innovation speed? The case of science based entrepreneurial firms

The increased pressure put on public research institutes to commercialize their research results has given rise to an increased academic interest in technology transfer in general and science based entrepreneurial firms specifically. By building on innovation speed and knowledge literatures, this paper aims to improve understanding of how tacit knowledge can be effectively transferred from the research institute to the science based entrepreneurial firm. More specifically, we assess under which conditions tacit knowledge contributes to the generation of innovation speed, which is a crucial success parameter for technology based ventures. Using an inductive case study approach, we show that tacit knowledge can only be transferred effectively when a substantial part of the original research team joins the new venture as founders. Our analysis also reveals that the mere transfer of tacit knowledge is insufficient to ensure the successful commercialization of technology. Commercial expertise is also required on the condition that the cognitive distance between the scientific researchers and the person responsible for market interaction is not too large. Our findings have implications for science based entrepreneurs, technology transfer officers, venture capitalists, policy makers and the academic community.

Working paper

BRUNEEL J, CLARYSSE B, WRIGHT M, 2009, Linking Entrepreneurial Strategy and Firm Growth

The growth of young, technology-based firms has received considerable attention in the literature given their importance for the generation and creation of economic wealth. Taking a strategic management perspective, we link the entrepreneurial strategy deployed by young, technology-based firms with firm growth. In line with recent research, we consider both revenue and employment growth as they reflect different underlying value creation processes. Using a unique European dataset of research-based spin-offs, we find that firms emphasizing a product and hybrid strategy are positively associated with growth in revenues. The latter strategy also has a positive influence on the creation of additional employment. Contrary to expectation, however, we find that firms pursuing a technology strategy do not grow fast in employment. Our study sheds new light on the relationship between entrepreneurial strategy and firm growth in revenues and employment.

Working paper

Wright M, Clarysse B, Lockett A, Knockaert Met al., 2008, Mid-range universities' linkages with industry: Knowledge types and the role of intermediaries, RESEARCH POLICY, Vol: 37, Pages: 1205-1223, ISSN: 0048-7333

Journal article

Knockaert M, Clarysse B, 2008, High-technology VCs: a distinct species on the investment market

Over the last decades, venture capital investment management has considerably become interested in high-tech investing. Despite this higher interest, no clear analysis exists of who these high-tech VCs are, and how they differ from traditional VCs. Studying selection behaviour of VCs using a conjoint methodology, we identified 28 high-tech investors in a unique sample of 68 European early stage investors. These VCs emphasize high-tech related criteria during the selection process. A further analysis of this group of high-tech investors compared to traditional investors showed that high-tech VCs are to a larger extent publicly funded than traditional VCs. Besides, they tend to be more prominent in biotech investing. We found no indication that specific or general human capital with respect to high-tech investing affects selection behaviour. This research has important implications for public policy, aiming at resolving the market failure for high-tech investments, high-tech entrepreneurs looking for VC funding, and VC funds.

Working paper

VELDE EVANDE, CLARYSSE B, WRIGHT M, 2008, The Technology Endowments of Spin-off Companies

Innovative start-ups, including spin-offs from universities and companies, play a vital role in the development and growth of emerging, high-technology industries. Research attention has traditionally focused on the links between demographic, educational, psychological and financial influences on start-up activity and growth. The extent to which the characteristics of technology inherited from the parent, important for spin-offs, helps explain post start-up performance has been neglected. We analyse the scope and newness of the endowed technology as a predictor of post-spin-off growth for corporate and university spin-offs. Using a novel, hand-collected dataset, 48 corporate and 73 university spin-offs were identified, comprising the whole population of such spin-offs in Flanders over the period 1991-2002. We find that corporate spin-offs seem to benefit from a narrow scope of technology and a high level of newness of technology, while university spin-offs benefit from a broad scope of technology and a lower level of newness of technology. We conclude that the same choice of technology endowments may have a different impact on the spin-offs’ growth, since spin-offs start with different knowledge inheritance.

Working paper

Clarysse B, Knockaert M, Lockett A, 2007, Outside board members in high tech start-ups, SMALL BUSINESS ECONOMICS, Vol: 29, Pages: 243-259, ISSN: 0921-898X

Journal article

Clarysse B, Wright M, Lockett A, Mustar P, Knockaert Met al., 2007, Academic spin-offs, formal technology transfer and capital raising, INDUSTRIAL AND CORPORATE CHANGE, Vol: 16, Pages: 609-640, ISSN: 0960-6491

Journal article

Heirman A, Clarysse B, 2007, Which tangible and intangible assets matter for innovation speed in start-ups?, Journal of Product Innovation Management, Vol: 24, Pages: 303-315, ISSN: 0737-6782

Journal article

VELDE EVANDE, CLARYSSE B, WRIGHT M, RAYP G, BRUNEEL Jet al., 2007, Exploring the Boundary between Entrepreneurship and Corporate Venturing: From Assisted Spin-outs to Entrepreneurial Spin-offs

Corporate entrepreneurship and corporate spin-offs have gained importance over the last decades. Corporate spin-offs play an increasingly important role in the development and growth of emerging, high-technology industries, thereby contributing to economic growth. While previous studies on corporate spin-offs have taken the established firm as a point of departure, a central issue concerns the locus of entrepreneurs. We adopt a bottom-up approach by considering those spin-offs that are created by employees, based upon an opportunity spotted while working for the parent company. Based upon the knowledge-based theory of the firm and the literature on opportunity identification, we develop a typology of corporate spin-offs. We identified three types of corporate spin-offs: Assisted spin-outs, Restructuring-driven spin-outs and Entrepreneurial Spin-offs. These types of corporate spin-offs differ from each other in terms of nature and formality of knowledge transfer; detection and implementation of opportunity identification; and performance. Based upon an in-depth analysis of 41 corporate spin-offs in Flanders, we found that Entrepreneurial Spin-offs outperform both Assisted and Restructuring-driven spin-outs on all four performance indicators. Our findings imply that parent companies often miss possibilities to capture value from opportunities that were originally developed in the parent company.

Working paper

Clarysse B, Bruneel J, 2007, Nurturing and growing innovative start-ups: the role of policy as integrator, R & D MANAGEMENT, Vol: 37, Pages: 139-149, ISSN: 0033-6807

Journal article

Wright M, Clarysse B, Mustar P, Lockett Aet al., 2007, Academic Entrepreneurship in Europe, Publisher: Edgar Elgar

Book

Clarysse B, Knockaert M, Lockett A, Van Eeckhout Cet al., 2007, An analysis of the selection behaviour of early-stage high-tech investors in Europe, 1st Workshop on Managing Growth - The Role of Private Equity, Publisher: EDWARD ELGAR PUBLISHING LTD, Pages: 16-29

Conference paper

Clarysse B, Knockaert M, Lockett A, 2006, Outside board members in the high-tech start-ups

Board composition in large organizations has been subject to much empirical research, however, little attention has been focused on board composition in start-ups, and more specifically high tech start-ups. This lack of research is surprising given that many high tech start-ups have multiple equity stakeholders such as venture capitalists or public research organizations, such as universities. Given that high tech start-ups are commonly resource-poor these external stakeholders may play an important role in accessing critical external resources. Drawing on agency theory, resource dependence theory and social network theory we examine the tensions that exist between the founding team and external equity stakeholders in determining the presence of outside board members. In particular we focus on whether or not the outside board members have either complementary or substitute human capital to the founding team. We test our model on a sample of 140 high tech start-ups in Flanders. Our results indicate that high tech start-ups with a public research organization as an external equity stakeholder are more likely to develop boards with outside board members with complementary skills to the founding team. Conversely, in high tech start-ups where the founding team has had autonomy, or where a venture capitalist is an external equity stakeholder, the board tends to consist of outside board members with similar or substitute human capital to the founding team. Our findings the presence of an external equity stakeholder does not guarantee that outside board members have complementary human capital to the founding team.

Working paper

Wright M, Lockett A, Clarysse B, Binks Met al., 2006, University spin-out companies and venture capital, RESEARCH POLICY, Vol: 35, Pages: 481-501, ISSN: 0048-7333

Journal article

Mustar P, Renault M, Colombo MG, Piva E, Fontes M, Lockett A, Wright M, Clarysse B, Moray Net al., 2006, Conceptualising the heterogeneity of research-based spin-offs: A multi-dimensional taxonomy, RESEARCH POLICY, Vol: 35, Pages: 289-308, ISSN: 0048-7333

Journal article

Vanaelst I, Clarysse B, Wright M, Lockett A, Moray N, S'Jegers Ret al., 2006, Entrepreneurial team development in academic spinouts: An examination of team heterogeneity, ENTREPRENEURSHIP THEORY AND PRACTICE, Vol: 30, Pages: 249-271, ISSN: 1042-2587

Journal article

Knockaert M, Lockett A, Clarysse B, Wright Met al., 2006, Do human capital and fund characteristics drive follow-up behaviour of early stage high-tech VCs?, INTERNATIONAL JOURNAL OF TECHNOLOGY MANAGEMENT, Vol: 34, Pages: 7-27, ISSN: 0267-5730

Journal article

Clarysse B, Knockaert M, Lockett A, 2005, How do early stage high technology investors select their investments?

This study examines the selection behaviour of 68 European early stage high tech VCs. In particular, we examine whether or not these VCs exhibit heterogeneity in their selection behaviour. To examine these issues we employ a conjoint analysis methodology. Our results indicate that VCs exhibit substantial heterogeneity in investment selection behaviour. Employing a cluster analysis three types of investors emerge: those who focus on technology, those who focus on finance and those who focus on people. We then examine the drivers of these differences, being the sectoral focus, the sources of funds and the human capital of the investment manager.

Working paper

Moray N, Clarysse B, 2005, Institutional change and resource endowments to science-based entrepreneurial firms, RESEARCH POLICY, Vol: 34, Pages: 1010-1027, ISSN: 0048-7333

Journal article

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