The authors collected a unique dataset on 99 research-based start-ups (RBSUs) and use an event-history approach to test our model. Findings indicate that RBSUs differ significantly in their starting conditions and that these differences have a significant effect on the time it takes to launch the first product.
Link
http://www.FEB.UGent.be/fac/research/WP/Papers/wp_04_238.pdf