Over the years, scholarly interest in the role of business models to unlock the value of latent technology has increased. It is argued that the commercialisation of new technology requires business models that respond to a myriad of challenges and market needs. However, limited attention has been paid to understand how early-stage business models are developed to commercialise new university technology. Specifically, there are limited studies scrutinising the early-stage business models developed by University Spin-Offs (USOs), despite the fact that these are breeding grounds for new technology with commercial potential. Therefore, this thesis examines how USOs develop early-stage business models to commercialise new technology for the cleantech industry. To achieve this, an in-depth case study of four cleantech USOs at the University of Cambridge in the United Kingdom was performed. Sixty interviews with multiple stakeholders were conducted, and effectual logic and the concept of opportunity creation were adopted to inform the investigation. The findings, presented in a conceptual framework, suggest that USOs develop early-stage business models through three interlocking mechanisms. First, value is created through flow-field control, which is achieved by taking active control over a firm's resources and capabilities. Second, value is captured through pragmatic kinesis, defined as being sensible when moving towards profit. Third, value network is managed through deliberate temperament, which is used to align stakeholders' expectations. Along with these findings, the thesis also advances COPE principles (i.e. take control, create opportunities, forge partnerships and embrace contingencies) as parameters for the development of early-stage business models. The empirical evidence offers a critical logical shift in our understanding of early-stage business models development for commercialising university technology in the cleantech industry. The conceptual framework responds to scholarly inquiries to improve the theoretical grounding and construct clarity of business models. The thesis also informs policymakers about the pitfalls and opportunities associated with new technology commercialisation in the cleantech industry, where uncertainties are ubiquitous.
| Identifer | oai:union.ndltd.org:bl.uk/oai:ethos.bl.uk:767721 |
| Date | January 2018 |
| Creators | Moktar, Zurina |
| Contributors | Velu, Chander |
| Publisher | University of Cambridge |
| Source Sets | Ethos UK |
| Detected Language | English |
| Type | Electronic Thesis or Dissertation |
| Source | https://www.repository.cam.ac.uk/handle/1810/289712 |
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