Author(s): Oluseye O. Jegede, Cecile Nieuwenhuizen
The importance of commercializing research outputs by science, technology, engineering, arts and mathematics (STEAM) researchers for technological advancement and socio-economic development cannot be overemphasized. This study thus investigates the factors that motivate researchers in the STEAM field to startup businesses based on their research. A multistage sampling method was used to draw a sample of 201 researchers, consisting of lecturers and students from a top-ranking university in Nigeria. The study used a set questionnaire to elicit information on factors that influence the decision of STEAM researchers to spin off business start-ups from their research. Principal Component Analysis and Binary Logistic Regression were used to determine the association between the dependent and independent variables. The findings revealed that the important driver of academic spin-off for the STEAM researchers was the level of risk tolerance. It was evident that risk-taking had a strong relationship with quality research and business start-up.