UNIVERSITY SCIENTISTS AS ENTREPRENEURS - A SPECIAL CASE OF TECHNOLOGY-TRANSFER AND HIGH-TECH VENTURING

We trace the commercialization of new technologies when enacted specifically under the stewardship of the founding university scientist. Our primary evidence comes from an intensive study of 22 such enterprises in North America. The implications for all parties involved, including the business partners and university employers, are addressed. The clash of business and scientific cultures often leads to difficulties in the partners working together and sometimes to outright failure of the venture. Likewise, tension in the scientist's relationship with the university produces unfortunate losses for both sides. The lack of a common venture culture, as well as difficulties in the relationship with the university, might be labelled as 'obvious' by students of organizing and organizations. Equally, many venturing scientists recognize their lack of management skills as a potential barrier to success. Yet, it is striking how little preventive action is taken to avoid or remedy such problems. They appear to be consistently overlooked. For instance, creative resolutions of the academic's new status occurred only in a minority of our cases; the majority of the scientists severed their ties with their universities. The patterns exposed in this study offer helpful insights to budding scientist-entrepreneurs contemplating a foray into the commercial marketplace, to business partners interested in enhancing the probability of making the right career move, and to universities seeking a stake in the success of these ventures.