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The subject of this article is the inheritance of the parent university of academic spin-offs through imitation and entrepreneurial learning. Building on a capability perspective, the article adds to the literature on university spin-offs and presents insights into the academic spin-off phenomenon that may be useful in supporting academic entrepreneurship. The study is based on four universities, all located in the metropolitan area of Milan. The authors followed the start-up processes of 74 spin-off ventures over the period 2004–2013, obtaining economic data for 61 of the ventures. The analysis we carried out shows that parent universities influence the industry distribution of spin-offs, since most spin-offs showing a positive performance were concentrated in industries that (1) could benefit from the most advanced research of the parent university and (2) were those in which previous start-ups had also tended to …