Abstract

In this paper, relying on the resource- and competence-based theories of the firm, we analyze differences between Academic Start-Ups (ASUs) and other New Technology Based Firms (NTBFs) as to their internal resources and competencies configuration and access to external resources and competencies. We argue that these differences have important implications for firms' performances. In the empirical section of the paper we compare a sample of 64 Italian ASUs that operate in high-tech industries with two matched pair samples of NTBFs, with matching being based on observable covariates and a modified version of the propensity score method, respectively. The results of the statistical tests show that ASUs and other NTBFs differ in their initial resources and competencies as a consequence of the diverse origin and human capital of founders.