In the study we examine whether external entrepreneurs show differences compared with inventor entrepreneurs in the way they interact and network with others in the start-up process, and – if so – how these differences become manifested in their venturing efforts. The study uses a case study design of four university spin-offs across different industries and development stages originating from a Swedish technical university. In general, our findings emphasize the critical role of incubators for supporting the commercialization and diffusion of technology as they bridge structural holes between research oriented and commercial networks. However, we also find evidence that the external entrepreneur model contains network elements that on the whole makes it more effective in the venturing process. As such, the external entrepreneur model seems to be a highly potent technology transfer mechanism with potential to orchestrate efforts to commercialize public research for the benefit of industry and broader society.