Assessing the market potential and investment trends of university-origin maritime spin-off companies

Abstract

PURPOSE: This paper examines the market potential and investment trends of university-origin maritime spin-offs, a niche yet underexplored field in academic entrepreneurship.

DESIGN/METHODOLOGY/APPROACH: The study employs keyword-based searches on Crunchbase and PitchBook, identifying 147 maritime spin-offs. Quantitative methods are combined with case studies (ICEYE, Daphne Technology) to analyse investment patterns, scalability, and survival.

FINDINGS: Maritime spin-offs represent only 2.3% of academic ventures but face significant capital and regulatory barriers. Investment concentration follows a power-law distribution, with 5% of companies capturing 63% of sector funding. Case studies highlight how dual-use technologies and modular retrofits improve survival prospects.

PRACTICAL IMPLICATIONS: Insights are valuable for universities, investors, and policymakers in designing sector-specific support mechanisms. Recommendations include industry-coupled incubation, targeted investment in underfunded niches, and streamlined regulatory pathways.

ORIGINALITY/VALUE: Unlike prior studies focused on high-tech sectors, this research develops a methodological framework and sector-specific performance indicators for maritime spinoffs, offering new tools for analysing academic entrepreneurship in traditional industries.