This paper explores the knowledge adquisition strategy developed by university spin-offs, in the context of the theoretical discussion on the presence of various knowledge sources used by companies for their technology and innovation strategies. The empirical basis of this study is a survey to the population of spin-offs in the Andalusian university system. The findings confirm that the companies studied combine in-house R&D and acquired knowledge from their relations with external agents. Literature on innovation shows a lack of empirical analysis using spin-off companies as a unit of analysis. Therefore, the results of this paper have not only theoretical relevance but also offer important implications in the field of innovation policy.

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