Factors explaining the de-internationalization of academic spin-offs

Purpose This study aims to analyze the process of academic spin-offs’ de-internationalization, examining the internal and external factors that influence this strategy. Design/methodology/approach This study uses a conceptual methodological approach that integrates a theoretical review to examine the factors influencing academic spin-offs’ decisions to cancel or reduce their presence in international markets, whether voluntarily or involuntarily, in whole or in part, and at early or later stages of their internationalization process. Findings The results suggest that academic spin-offs face more significant challenges in their internationalization process than other small- and medium-sized enterprises. Each of the factors analyzed can explain the type, extent and timing of de-internationalization, and their impact may vary according to the pattern of internationalization followed by these firms. Furthermore, this paper highlights that academic spin-offs de-internationalization processes are often influenced more by internal factors than by external ones. Equally, it is recognized that these factors do not act independently in de-internationalization but are interrelated and may be conditioned by each other. Originality/value This study offers various perspectives by assessing the nonlinear internationalization patterns of academic spin-offs. Moreover, it contributes significantly to the literature on academic entrepreneurship and internationalization by integrating de-internationalization as an essential component of the international academic spin-off life cycle.