Business models for research-based spin-offs: the strategic entrepreneurship perspective

The case study focuses on business model design in the context of research-based spin-offs. Drawing from the idea of complementary business models based on the concepts of exploration, exploitation and strategic entrepreneurship (SE), the case study shows how a two-by-two business model was designed for a university-based start-up. The data for the action research-related case study comprise theoretical papers, documents, interviews and a field diary, which were subjected to qualitative content analysis. The findings indicate how business firms in general and start-ups in particular could benefit from complementary business models based on the basic ideas of SE.