Institutional & Academic Spinouts
We are excited to have a cohort focused on spin-outs because we believe that they are one of the keys to strengthening our economy.
We are utilizing an innovative model that blends on-site in Bangor with working remotely at your headquarters.
Spin-out companies are defined in two ways:
(1) the founder was a faculty member, staff member, or student who left the university to start a company or who started the company while still affiliated with the university;
and/or (2) a technology or technology-based idea developed within the university. The companies in the study represent a range of technologies and tend to be growth-oriented.
Major difficulties facing the spin-out company, such as raising capital, managing growth and penetrating new markets, revolve around business rather than technological concerns.
The creation of new ventures to commercialize university research is potentially an important mechanism for technology diffusion that is seen to have a significant economic impact at national and regional levels (Garnsey and Heffernan, 2005; Smith and Ho, 2006; Vincett, 2010; Wright et al., 2008).
Creating a successful spin-off firm requires different competencies compared to the traditional core academic missions of teaching and research (Ambos et al., 2008; Rasmussen et al., 2011).
We can hold that the creation and development of spin-off in a university context is a highly complex task involving many actors within and outside the university organization (O'Shea et al., 2007; Rasmussen and Borch, 2010; Rasmussen et al., 2014a).
Click on any of these Scratchpad success stories to learn more about them: