Sarah Lubik completed her PhD in CTM, focusing on the commercialization of new technologies from university origins, specifically advanced material innovations. Several related strands of literature, including business models, value creation, partnerships and science-based academic entrepreneurship, have been woven together to explore the challenges faced by these firms. This also forms the basis for a novel theoretical framework combining Penrosian resource-based theory (RBT) with open-systems theory, which is used to examine both qualitative and quantitative empirical evidence.

A comprehensive dataset of 67 university spin-out (USO) firms was compiled to explore the experiences of the firms, specifically looking at the evolution of the firm’s business model with regard to resource access and partnerships with other organizations in its business ecosystem. The dataset also guides the selection of seven case studies used to explore the phenomena in greater depth. The outcomes of the research include the refined framework, contributions to management theory and recommendations for entrepreneurs, managers and policy makers.

In November 2010, Sarah successfully defended her PhD and, shortly thereafter, joined IfM’s Centre for Strategy and Performance to work on the Emerging Industries Programme, focusing on manufacturing strategies in SMEs. She also works with St Johns Innovation Centre, specializing in support for high tech start-up companies.