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.