Although previous research shows that corporate spin‐offs contribute to economic growth, few studies link growth to the type of corporate spin‐off. We distinguish between three types of corporate spin‐offs: incumbent‐backed, opportunity, and necessity spin‐offs. Using empirical data on 46 corporate spin‐offs in Flanders, we find that opportunity spin‐offs outperform the other two types. By identifying the type of corporate spin‐offs, this study aims to add to our knowledge on the relationship between spin‐off type and firm growth.