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We discuss the characteristics of academic "spin-off processes" in environments outside of high tech clusters and where technology transfer and entrepreneurship infrastructures have been weak. To identify their implications for venture formation, we studied the case of Belgium, gathering data from eight universities and fortyseven firms. We propose that spin-off processes in academic institutions affect the form and growth orientations of ventures.doi:10.2139/ssrn.413080 fatcat:ueoxqz32u5a7np7ql7heltqqaa