Spin-off and its Features

Technology- Based Firms and spin-offs are emerging entrepreneurship within a university or research centre to exploit and capitalize on market the research results of science and technology developed from research activity. The active members of the university community are responsible for the development of such technologies or knowledge based business projects.

Through these companies, research centres outsource the development and commercial exploitation of technology and researchers are able to implement their projects business, knowledge and results of R&D.

Its main features are:

• To emerge within universities and research centres.
• To Involve members of the university community, especially those researchers from a research group that develops the knowledge on which to base the future enterprise.
• To have a large component of R&D: they are knowledge-intensive companies, in which lines of business and marketing products and services are based on the results transferred from academia and industry.
• To have a high economic potential and access to sources of funding to be encompassed in technologically advanced sectors and in many cases, pioneers.
• To keep a link with universities and research centres where they arise, whether in finance, facilities, advice, etc. Usually installed in science and technology parks, in their early years are housed in incubators.
• To be flexible, based on innovation and capable of adapting to changes, and usually are released with a small size.

In addition, there are six essential requirements to take into account in the implementation of technology-based companies because they will determine the success or failure of a business project of this type:

• To have a good command of the technology.
• To form a strong development team.
• To have a good innovative product or service.
• To protect adequately the competitive advantage.
• To enter the market with a solid business strategy.
• To have an innovative environment and networking.