Overcoming institutional shortcomings for academic spin-off policies in Brazil

This exploratory study discusses the evolution of university spin-off policy in Brazil. Technology transfer and entrepreneurship infrastructures to support spin-off ventures were weak until early 2000. However, in 2004, the government passed an Innovation Law to establish a legal infrastructure and financial mechanisms to promote innovation. In its aftermath and in response to the law, a few universities sought to evolve their spin-off policy. Data collected from seven spin-offs from six universities allows an exploration of spin-off policy as a factor underpinning the growth potential of business ventures. The results discussed in this article are consistent with earlier findings for Belgium. The article concludes that in the absence of proper orientation and incentives in the unfolding policies and mechanisms underpinned by the Innovation Law, even universities that tried to take advantage of the law did not change their spin-off policies to proactively select growth-oriented spin-off ventures.