Extending the potential of venture creation programmes for the commercialisation of research-based technologies

This paper explores the processes undertaken by students in a venture creation programme (VCP) who engage in early-stage technology commercialisation of research-based technologies provided by external institutions. Our research question is: How can VCPs support students in the commercialisation of research-based technologies? We conducted a process study of a spinoff company that is based on a technology developed at the European Organisation for Nuclear Research (CERN). Facilitated by a VCP and through a formal agreement with an external research institution, it is possible for novice students to identify and create opportunities within a complex and uncertain context, including a highly advanced technological field. Guided by a process study approach, the paper conceptualised the sequence of events during the students’ entrepreneurial process. The paper builds on the conceptual frame of reference that VCPs combine several approaches to supporting entrepreneurship and commercialisation at universities. Thus, it contributes to the literature on research commercialisation processes with insights into the processual micro-foundations of overcoming challenges and junctures in the commercialisation process. We suggest that involving VCP students represents an alternative model of technology commercialisation in high-cost economies that fosters fruitful collaboration among the VCP, VCP students and researchers.