Transfer and exploration: Two models of science-industry intermediation.

The creation of academic spin-offs, which are new ventures exploiting knowledge and technologies generated in public research organizations, has become a central aspect of contemporary innovation policies. This paper examines the science/industry intermediation role of academic spin-offs by distinguishing two models, which we qualify as transfer and exploration. While the transfer model has been predominant in both the literature and policy making, its assumptions have been questioned by studies depicting spin-offs as mediators that transform the entities that they transmit and the worlds between which they move. Building on a case study that traces back the emergence of a French spin-off, this paper contrasts the transfer and exploration models of science/industry intermediation. We identify three main points of divergence, relating to socio-technical stability, dynamics and devices, and highlight the challenges raised by the exploration model, both in terms of scholarly analysis and public policy design. [ABSTRACT FROM AUTHOR]