The document discusses academia spin-offs and the process of creating a university spin-off company. It describes that a university spin-off is a technology-based company created by university researchers to commercialize technology developed at the university. The process involves getting approval from the university technology transfer office and various committees. The university would then partner with the spin-off company and license the necessary technology, while not being involved in management. Researchers can work with the spin-off under certain legal frameworks that allow outside work and ownership stakes in startups commercializing their research.
IGNITE your…. TSB grants
Presenter – Mark Glover, Director Business Planning, from Technology Strategy Board will be presenting on
“The support to small businesses provided by the various TSB grants and schemes"
Mark is responsible for the definition and management of organisational strategy, strategic partnerships, EU and international engagement and organisational improvement and change.
The Technology Strategy Board is the UK's innovation agency. Our goal is to accelerate economic growth by stimulating and supporting business-led innovation.
IGNITE your…. TSB grants
Presenter – Mark Glover, Director Business Planning, from Technology Strategy Board will be presenting on
“The support to small businesses provided by the various TSB grants and schemes"
Mark is responsible for the definition and management of organisational strategy, strategic partnerships, EU and international engagement and organisational improvement and change.
The Technology Strategy Board is the UK's innovation agency. Our goal is to accelerate economic growth by stimulating and supporting business-led innovation.
Partnership for innovation? THINK TUDOR
Are you looking for a partner to help make your innovation project a success? The Public Research Centre Henri Tudor is committed to working alongside you, adopting a coconstructive approach based on trust, honesty and dialogue. We offer you 5 types of collaborations that we invite you to discover in the leaflet.
Case study written by Darragh Murphy.
Suggested citation:
Murphy, D. (2010). Case Studies in Design Policies & Programmes. TULI. SEE Library
Originally uploaded at http://www.seeplatform.eu/images/file/Case%20Study%20pdfs/TULI%20-%20SEE%20Case%20Study.pdf
Partnership for innovation? THINK TUDOR
Are you looking for a partner to help make your innovation project a success? The Public Research Centre Henri Tudor is committed to working alongside you, adopting a coconstructive approach based on trust, honesty and dialogue. We offer you 5 types of collaborations that we invite you to discover in the leaflet.
Case study written by Darragh Murphy.
Suggested citation:
Murphy, D. (2010). Case Studies in Design Policies & Programmes. TULI. SEE Library
Originally uploaded at http://www.seeplatform.eu/images/file/Case%20Study%20pdfs/TULI%20-%20SEE%20Case%20Study.pdf
Ilmars Viksne: Innovation and Technology Transfer as the Third Pillar of Mod...CUBCCE Conference
RTU has been purposefully developing to become the 3rd generation university that provides high quality education, ensures excellence in research and carries out innovation and technology transfer. The sustainable innovation and commercialization is a new objective declared in RTU strategy for 2014-2020. The university needs implementation of new support structures and tools to facilitate relationships between research groups and the outside environment. There are several internal structural units (“Department of Business and Innovation”, “Innovation and Technology Transfer Centre”, “Design Factory”, “Career Centre”) and a network of external institutions where RTU is co-founder and active participant, for example: “Latvia Technology Park”, “Green Technology Incubator” and other.
RTU provides the mandatory course “Product Development and Design” (6-9ECTS) and internships for all undergraduate students implementing the concept “Learning by Doing” and helping in setting up their future business and acquiring investments.
The internal units ensure a one-stop agency for industrial partners and provide support to RTU’s researchers to: identify and assess potentially interesting research results; identify suitable commercialization methods and industrial partners; patent and research results; create prototypes; negotiate with companies and prepare contracts; create spin-off companies. They consult on business, design and engineering issues and carries out different activities stimulating researchers to interact with external players.
The external institutions promote market-oriented objectives of the university research and engage the university in strategic partnerships with stakeholders form business, national and regional authorities, other universities and research centres.
The presentation explore functioning and interaction of main players of commercialization process, shows the latest RTU achievements.
Startup Sauna story - what we do, how we came to be and what kind of things we track for results.
Held at the Aalto REE conference on 6th of September 2012.
2024.06.01 Introducing a competency framework for languag learning materials ...Sandy Millin
http://sandymillin.wordpress.com/iateflwebinar2024
Published classroom materials form the basis of syllabuses, drive teacher professional development, and have a potentially huge influence on learners, teachers and education systems. All teachers also create their own materials, whether a few sentences on a blackboard, a highly-structured fully-realised online course, or anything in between. Despite this, the knowledge and skills needed to create effective language learning materials are rarely part of teacher training, and are mostly learnt by trial and error.
Knowledge and skills frameworks, generally called competency frameworks, for ELT teachers, trainers and managers have existed for a few years now. However, until I created one for my MA dissertation, there wasn’t one drawing together what we need to know and do to be able to effectively produce language learning materials.
This webinar will introduce you to my framework, highlighting the key competencies I identified from my research. It will also show how anybody involved in language teaching (any language, not just English!), teacher training, managing schools or developing language learning materials can benefit from using the framework.
Embracing GenAI - A Strategic ImperativePeter Windle
Artificial Intelligence (AI) technologies such as Generative AI, Image Generators and Large Language Models have had a dramatic impact on teaching, learning and assessment over the past 18 months. The most immediate threat AI posed was to Academic Integrity with Higher Education Institutes (HEIs) focusing their efforts on combating the use of GenAI in assessment. Guidelines were developed for staff and students, policies put in place too. Innovative educators have forged paths in the use of Generative AI for teaching, learning and assessments leading to pockets of transformation springing up across HEIs, often with little or no top-down guidance, support or direction.
This Gasta posits a strategic approach to integrating AI into HEIs to prepare staff, students and the curriculum for an evolving world and workplace. We will highlight the advantages of working with these technologies beyond the realm of teaching, learning and assessment by considering prompt engineering skills, industry impact, curriculum changes, and the need for staff upskilling. In contrast, not engaging strategically with Generative AI poses risks, including falling behind peers, missed opportunities and failing to ensure our graduates remain employable. The rapid evolution of AI technologies necessitates a proactive and strategic approach if we are to remain relevant.
Francesca Gottschalk - How can education support child empowerment.pptxEduSkills OECD
Francesca Gottschalk from the OECD’s Centre for Educational Research and Innovation presents at the Ask an Expert Webinar: How can education support child empowerment?
Introduction to AI for Nonprofits with Tapp NetworkTechSoup
Dive into the world of AI! Experts Jon Hill and Tareq Monaur will guide you through AI's role in enhancing nonprofit websites and basic marketing strategies, making it easy to understand and apply.
Operation “Blue Star” is the only event in the history of Independent India where the state went into war with its own people. Even after about 40 years it is not clear if it was culmination of states anger over people of the region, a political game of power or start of dictatorial chapter in the democratic setup.
The people of Punjab felt alienated from main stream due to denial of their just demands during a long democratic struggle since independence. As it happen all over the word, it led to militant struggle with great loss of lives of military, police and civilian personnel. Killing of Indira Gandhi and massacre of innocent Sikhs in Delhi and other India cities was also associated with this movement.
Unit 8 - Information and Communication Technology (Paper I).pdfThiyagu K
This slides describes the basic concepts of ICT, basics of Email, Emerging Technology and Digital Initiatives in Education. This presentations aligns with the UGC Paper I syllabus.
Biological screening of herbal drugs: Introduction and Need for
Phyto-Pharmacological Screening, New Strategies for evaluating
Natural Products, In vitro evaluation techniques for Antioxidants, Antimicrobial and Anticancer drugs. In vivo evaluation techniques
for Anti-inflammatory, Antiulcer, Anticancer, Wound healing, Antidiabetic, Hepatoprotective, Cardio protective, Diuretics and
Antifertility, Toxicity studies as per OECD guidelines
The Roman Empire A Historical Colossus.pdfkaushalkr1407
The Roman Empire, a vast and enduring power, stands as one of history's most remarkable civilizations, leaving an indelible imprint on the world. It emerged from the Roman Republic, transitioning into an imperial powerhouse under the leadership of Augustus Caesar in 27 BCE. This transformation marked the beginning of an era defined by unprecedented territorial expansion, architectural marvels, and profound cultural influence.
The empire's roots lie in the city of Rome, founded, according to legend, by Romulus in 753 BCE. Over centuries, Rome evolved from a small settlement to a formidable republic, characterized by a complex political system with elected officials and checks on power. However, internal strife, class conflicts, and military ambitions paved the way for the end of the Republic. Julius Caesar’s dictatorship and subsequent assassination in 44 BCE created a power vacuum, leading to a civil war. Octavian, later Augustus, emerged victorious, heralding the Roman Empire’s birth.
Under Augustus, the empire experienced the Pax Romana, a 200-year period of relative peace and stability. Augustus reformed the military, established efficient administrative systems, and initiated grand construction projects. The empire's borders expanded, encompassing territories from Britain to Egypt and from Spain to the Euphrates. Roman legions, renowned for their discipline and engineering prowess, secured and maintained these vast territories, building roads, fortifications, and cities that facilitated control and integration.
The Roman Empire’s society was hierarchical, with a rigid class system. At the top were the patricians, wealthy elites who held significant political power. Below them were the plebeians, free citizens with limited political influence, and the vast numbers of slaves who formed the backbone of the economy. The family unit was central, governed by the paterfamilias, the male head who held absolute authority.
Culturally, the Romans were eclectic, absorbing and adapting elements from the civilizations they encountered, particularly the Greeks. Roman art, literature, and philosophy reflected this synthesis, creating a rich cultural tapestry. Latin, the Roman language, became the lingua franca of the Western world, influencing numerous modern languages.
Roman architecture and engineering achievements were monumental. They perfected the arch, vault, and dome, constructing enduring structures like the Colosseum, Pantheon, and aqueducts. These engineering marvels not only showcased Roman ingenuity but also served practical purposes, from public entertainment to water supply.
A Strategic Approach: GenAI in EducationPeter Windle
Artificial Intelligence (AI) technologies such as Generative AI, Image Generators and Large Language Models have had a dramatic impact on teaching, learning and assessment over the past 18 months. The most immediate threat AI posed was to Academic Integrity with Higher Education Institutes (HEIs) focusing their efforts on combating the use of GenAI in assessment. Guidelines were developed for staff and students, policies put in place too. Innovative educators have forged paths in the use of Generative AI for teaching, learning and assessments leading to pockets of transformation springing up across HEIs, often with little or no top-down guidance, support or direction.
This Gasta posits a strategic approach to integrating AI into HEIs to prepare staff, students and the curriculum for an evolving world and workplace. We will highlight the advantages of working with these technologies beyond the realm of teaching, learning and assessment by considering prompt engineering skills, industry impact, curriculum changes, and the need for staff upskilling. In contrast, not engaging strategically with Generative AI poses risks, including falling behind peers, missed opportunities and failing to ensure our graduates remain employable. The rapid evolution of AI technologies necessitates a proactive and strategic approach if we are to remain relevant.
Synthetic Fiber Construction in lab .pptxPavel ( NSTU)
Synthetic fiber production is a fascinating and complex field that blends chemistry, engineering, and environmental science. By understanding these aspects, students can gain a comprehensive view of synthetic fiber production, its impact on society and the environment, and the potential for future innovations. Synthetic fibers play a crucial role in modern society, impacting various aspects of daily life, industry, and the environment. ynthetic fibers are integral to modern life, offering a range of benefits from cost-effectiveness and versatility to innovative applications and performance characteristics. While they pose environmental challenges, ongoing research and development aim to create more sustainable and eco-friendly alternatives. Understanding the importance of synthetic fibers helps in appreciating their role in the economy, industry, and daily life, while also emphasizing the need for sustainable practices and innovation.
3. Contents
1. Presentation
2. Knowledge transfer
3. Academia Spin-offs
4. Spin-offs and entrepreneurship
5. Spin-off notable features
6. Legal framework
7. Regulation of spin-off at the UA
8. Funding...a rough guide.
5. 1. Presentation
Vice-chancellor's Office for
Knowledge Transfer, Innovation and
Dissemination
Secretariado de Transferencia
de Conocimiento
Oficina de Transferencia de
Resultados de Investigación (OTRI)
Unidad de Creación de Empresas de
Base Tecnológica (EBTs)
6. INNOVATION
KNOWLEDGE
UA EBTs are
companies that exploit
research results
TRANSFER
Research groups
University Institutes
Technology Transfer Office
(OTRI)
Industrial Property
Company Relations
Area
SPIN-OFF setting-up
1. Presentation
These companies are
link to the Science Park
8. 2. Knowledge transfer
Teaching
Research
Knowledge transfer
Contracts (R&D, service contracts, expert advice) to meet the needs of
companies
Carrying out projects in collaboration with companies (collaborative R&D)
Licence agreements
Creating a company based on research (spin-off)
To benefit society, research must reach the market... HOW?
University missions
11. Who is responsible for technology transfer?
• Researchers
• Technology Transfer Offices (OTRIs)
SGITT-OTRI
Research and Technology Transfer Management Service
3.1. Technology Transfer Office
13. http://sgitt-otri.ua.es/en/creacion-empresas/
PERSON RESPONSIBLE FOR THIS SERVICE:
• Loren Moreno Monteagudo
E-mail: loren.moreno@ua.es
Telephone: +34 965903400, ext. 9883
3.2. Spin-off: Technology-based company
Services: information and advice on spin-off based on UA research results.
Support and management throughout all company setting-up stages (idea,
project definition, business plan, economic and technical feasibility, legislation,
technology valuation, approval procedure within the University, etc.).
15. • A UA spin-off is a TECHNOLOGY-BASED COMPANY created by
the University of Alicante.
• Company launched by RESEARCH STAFF.
• Business goal: commercial exploitation of TECHNOLOGY
DEVELOPED AT THE UA.
• There is a procedure for the creation and approval of UA spin-offs
(regulation of spin-off at the UA).
• There is a technology transfer contract between the UA and the
spin-off.
• The UA is one of the new company's partners, although not
involved in its management.
3.3. What is a UA spin-off?
17. 4.1. The Entrepreneurial University
The UA’s institutional objective: to stimulate entrepreneurship within the
university community by:
bringing entrepreneurship into the academic curriculum
promoting an entrepreneurial culture among researchers and
students
stimulating the creation of innovative companies (spin-offs and start-
ups)
facilitating the transfer of knowledge to society
collaborating with other stakeholders: local development agencies,
business associations, foundations, science parks, etc.
18. Brings together in a single programme the university's commitment to promote
entrepreneurial culture and innovation.
Target audience:
• RESEARCHERS (future spin-off: exploitation of research results)
• STUDENTS AND GRADUATES (future start-up: innovative idea, not based
on research results)
• UNIVERSITY TEACHERS as a channel to stimulate entrepreneurship among
students.
4.1. The Entrepreneurial University
ua:emprende programme
Aim: for the UA to create an increasing number of innovative companies.
http://uaemprende.ua.es/
19. To promote and foster entrepreneurship among all members of the university
community, from students and graduates to teaching and research staff.
Objectives
To bring together all entrepreneurship activities carried out at the University of
Alicante, in order to endow them with a unique identity.
To propose a phased programme encompassing all UA activities, programmes
and awards, to enable greater coordination, synergies, etc.
4.1. The Entrepreneurial University
21. • Objective: to stimulate researchers and students to develop
innovative ideas. Promotion will be continuous within a
programme for stimulating entrepreneurship, and
complemented by initiatives undertaken by the Centres. Other
possible actions include seminars on experiences or success
stories at the beginning of year.
Phase 1: Promote and
stimulate
• Objective: courses and workshops (business model, business
plan, etc.). Personalised expert advice for entrepreneurs to help
them assess whether their idea has business potential.
Phase 2: Development
and maturation of
ideas
• “Impulso” award: a UA award given for innovative business
initiatives promoted by researchers, students and graduates.
• It promotes and sponsors other initiatives within and beyond
the UA and is aimed at rewarding and supporting
entrepreneurial initiatives.
Phase 3: “Impulso”
award
4.2. ua:emprende programme
22. Services for entrepreneurial researchers
In addition to be part of the team of ua:emprende, the TTO spin-off unit
offers researchers personalised expert advice.
4.2. ua:emprende programme
Specialised expert assigned to each project
Development and maturation of ideas
Technology valuation
Assessment of project’s commercial viability and advice on the best
marketing strategy
Support during preparation of the business plan
Networking
23. Fund-raising
Submission to public calls for proposals
Contact with private investors, venture capital, business angels
Participation in funding forums
Administrative procedures for constitution
Administrative procedures for approval by the UA, technology
transfer and shareholders agreements, company bylaws, etc.
Alicante Science Park
4.2. ua:emprende programme
25. Trying to simplify...
SPIN-OFF: new company formed by splitting off from a parent company.
START-UP: according to Steve Blank, a start-up is a company with a high
technological component formed to search for a repeatable and scalable
business model. In Spain, the term is associated with technological
and innovative student-driven entrepreneurial initiatives.
TECHNOLOGY-BASED COMPANY: companies based on technology or
knowledge that endows them with a competitive advantage.
UA spin-off: technology-based spin-off of the UA, exploiting technology
developed by researchers at the UA.
5.1. What is a UA spin-off?
26. • A UA spin-off is a TECHNOLOGY-BASED COMPANY created by the
University of Alicante.
• Companies launched by RESEARCH STAFF.
• Business goal: commercial exploitation of TECHNOLOGY
DEVELOPED AT THE UA.
• There is a procedure for the creation and approval of UA spin-offs
(regulation of spin-off set up at the UA).
• The UA is one of the new company's founders, although not
involved in its management.
5.1. What is a UA spin-off?
27. 5.1. What is a UA spin-off?
• Who owns the technology that the spin-off will exploit for commercial
purposes?
• The technology belongs to the UA. The UA must give the spin-off
permission for commercial exploitation.
Giving PERMISSION = TECHNOLOGY TRANSFER
• Signing the corresponding technology transfer CONTRACT gives the
spin-off permission to use UA technology for commercial purposes.
28. Characteristics Licence SPIN-OFF
The founding team Researchers;
low involvement
A balanced team;
researchers and others;
High involvement
Pre- and post-licence
investment (time, money,
effort)
Pre: high (seeking a
licence, final preparations)
Post: minimal
High
University returns Royalties Royalties;
Share of profits;
Sale of shares in the
company
Returns for the inventors
or founders
Royalties Royalties;
Share of profits, where
applicable;
Sale of shares, where
applicable
Market; funding needs Are there any licensee
companies?
Funding for final
preparations
Depending on sector, this
can be very high
5.2. Licence vs spin-off
29. 5.3. Why? Benefits
• Sometimes the only way to transfer research to the market absence of
licensees
• Revitalisation of the entrepreneurial and industrial fabric
Tend to begin small, but have a vast capacity for growth
Require highly qualified staff: jobs for students and researchers
• The new company collaborates with the university more technology
transfer
• Specific funding is available for this type of company, as well as specific
facilities (incubators and science parks)
• Towards an innovative ecosystem
30. 5.3. Why? Benefits
a) For researchers:
• Transfers their research to the market
• Provides professional opportunities for research group members
• Economic returns
Royalties for inventors
Share of profits for partners
Sale of shares
31. 5.3. Why? Benefits
a) For the University:
• Image
• Professional opportunities for staff and students
• More transfer and collaboration with companies
• Economic returns for the university
Share capital
Royalties and other payments generated by the transfer
contract
33. 6. Legal framework
• State legislative framework
Organic Law on Universities / LOMLOU
Law on Science, Technology and Innovation
Law on Patents
Law on Sustainable Economy
• University regulation framework
Spin-off setting-up
Industrial and Intellectual Property
34. LOU, LOMLOU
Establishes that university teaching staff may work in a spin-off via
temporary leave (Art. 83.3)
6. Legal framework
Organic law 6/2001, of 21 December, on universities, amended by Organic law
4/2007, of 12 April.
Pursuant to Article 83.3, civil servant or tenured teaching staff may apply for
temporary leave of absence to work in a spin-off created as the result of
patents or research funded partially or entirely by public funds; teaching
staff must provide evidence of their participation in these projects;
maximum five years; right to return to the same post and computation for
the purposes of length of service.
35. 6. Legal framework
Teaching staff (provided they are civil servants) may hold more than 10% of
the company's share capital and form part of the governing body (Additional
Provision 24).
LOU, LOMLOU
Organic law 6/2001, of 21 December, on universities, amended by Organic law
4/2007, of 12 April.
Additional Provision 24: removes the constraints established in Articles
12.1.b and 12.1.d of Law 53/1984, of 26 December, on incompatibilities of
staff in the service of the Public Administrations.
For “civil servant teaching staff” who founds spin-offs that the
university has founded and in which it holds shares.
Approval must be obtained from the Social Board and the
Governing Board.
36. Law 14/2011, of 1 June, on Science, Technology and Innovation
Art. 18: in practice, establishes that hired staff may hold more than 10% of
the spin-off's share capital, and participate in the governing body.
Provided that they are “research staff”
Provided that they hold a fixed-term contract with the spin-off (while
also maintaining their employment relationship with the UA)
6. Legal framework
37. Article 18 authorises the provision of services to commercial companies
Public universities [...] may authorise research staff to provide services, via a part-time,
fixed-term employment contract in limited companies created by the Universities or in
which it holds shares. […] spin-offs fall within the category of limited companies.
Recognition of compatibility may not modify the day or hours of the initial post of the person
concerned, and shall be automatically void in the event of a change of post in the public
sector Compatibility must be requested.
The constraints established by Law 53/1984, of 26 December, on incompatibilities of staff
in the service of Public Administrations, shall not apply to research staff who provide
their services in companies that they have created or in which the entities referred to in
this article hold shares [...] If all conditions are met, they can hold more than 10% of
the share capital and participate in governing bodies.
6. Legal framework
Law 14/2011, of 1 June, on Science, Technology and Innovation
38. 6. Legal framework
Can contracted and state-employed teaching staff create a company that
exploits their research (spin-off)?
• Yes
Can university teaching staff work in a spin-off?
• Temporary leave of absence (5 years) must be requested, right to return to the same post and
computation for the purposes of length of service.
• In addition, pursuant to Article 18 of the Law on Science, Technology and Innovation, they can
hold a part-time, fixed-term employment contract in companies they have created or in which
they hold shares.
Can they hold more than 10% of a spin-off's share capital?
• Yes, both state-employed and hired staff, provided that certain conditions are met.
Can they belong to a spin-off's governing body?
• As above.
39. 7. Regulation of
spin-off at the UA
7.1. Regulation of UA spin-offs
7.2. Steps to take in spin-off approval
7.3. Roles of the researcher in a spin-off
7.4. Roles of the UA
40. • Approved by the UA in 2008
• Definition
Spin-offs founded by the UA at the request of
teaching and research staff
Company activity based on technology developed
at the UA
• Characteristics
UA Approval
Technology Transfer Contract
UA participation, contract between partners
• UA-SPIN-OF participation
Assessment of UA contribution and minority
participation in the spin-off
7.1. Regulation of UA spin-offs
41. IDEA
Pre-assessment
of technology SPIN-OFF
PROPOSAL
EVALUATION SGITT-OTRI
REPORT
SPIN-OFF
COMMISSION
CONTRACT
TRANSFER
PARTNER
AGREEMENT
GOVERNING
COUNCIL
SOCIAL
COUNCIL
SPIN-OFF
SET-UP
External Advisors
Technology Assessment
Business plan support
Business model
Technology assessment
Support from the UA
7.1. Regulation of UA spin-offs
42. 7.2. Steps to take in SPIN-OFF approval
Idea
• Researcher has an idea with potential
• Identification of needs and level of development
• Idea is matured
Application
• Business plan
• Teaching and research staff participation in the spin-off
• Teaching and research staff participation in the technology
to transfer
• Technology report
Evaluation
TTO
• Expert assessment by the TTO
• Valuation of the UA's contribution
• Transfer contract returns
• External expert report
43. 7.2. Steps to take in SPIN-OFF approval
Spin-off
Commission
• Spin-off Commission opinion
• UA's contribution to the spin-off
• Terms of transfer (contract) consideration and
participation in the share capital
Social
Council
• Receives the opinion of the spin-off Commission and other
information
• Issues a report on the same
Governing
Council
• Emits an explicit agreement approving the spin-off
44. 7.2. Steps to take in spin-off approval
Transfer
Contract
• To be signed between the UA and the spin-off
• It must be approved by the corresponding department or
research institute
Partner
agreement
• The UA, through the Alicante Science Park Foundation,
participates in the company's share capital
Constitution
before a notary
• Preparation of documentation for constitution before a
notary
45. 7.3. Roles of the researcher in a spin-off
• Inventor, contribution of research staff
• Company partner (+ 10% compatibility)
• Participation in governing bodies (compatibility)
• Employee (temporary leave or part-time, fixed-term contract
determined according to Art.18 of the Law on Science,
Technology and Innovation)
46. 7.3. Roles of the UA
• Promotes spin-off creation
• Is not involved in spin-off management
• Is one of the spin-off PARTNERS: not directly, but through the Alicante
Science Park Foundation
47. 8. Funding... a
rough guide
8.1. General aspects
8.2. Spin-off funding
8.3. Business Angels
8.4. Venture capital entity
8.5. External funding
48. • Contracts or agreements with companies, foundations, etc.
• University-company chairs;
Instrument for long-term collaboration, with broad teaching
and research objectives and a minimum economic
contribution. Constitutes a means to sponsor and fund
research.
University research is primarily funded by public sources.
This is supplemented by private funding through:
8.1. General aspects
49. Founding partners' contribution.
Self-financing by the founders is the project starting point; it would be difficult
to convince other individuals or institutions to risk funds in the project if the
founders have not done so.
Family and friends
• This is the first source of external funding for entrepreneurs.
• The amount of funding obtained tends to be limited, but it is easily
accessible.
• Investors invest in the person rather than the business.
• Emotional ties can generate conflict.
8.2. Spin-off funding
50. They usually provide their know-how and experience, with direct involvement
in project management and development.
Spanish Association of Business Angels (Spanish initials: AEBAN)
www.aeban.es
CvBan. Association that represents private investors. Region of Valencia
Business Angels Network
In recent years, they have professionalised their role, organising themselves into
networks.
Private investors interested in supporting and participating in new companies.
Their involvement is temporary: they aim to sell their share within a given
time (5 to 7 years) and recover much more than the money initially invested.
They are quite receptive to investing in the initial phase of a project (seed or
start-up capital).
8.3. Business Angels
52. Typically, external funding for SMEs is provided through banks.
PUBLIC FUNDING
Centre for Industrial Technological Development (Spanish initials: CDTI)
(www.cdti.es)
The CDTI is a public business entity dependent on the Spanish
Ministry of Economy and Competitiveness that
promotes technological innovation and development in Spanish
companies.
It channels requests for funding and support for R&D&i projects in
Spanish companies at national and international levels (Spanish
Ministry of Economy and Competitiveness or European programmes).
8.5. External funding
53. Official Credit Institute (Spanish initials: ICO) Public Bank: ICO products
for companies and entrepreneurs.
ENISA (limited national innovation company) funds SME start-up, growth or
consolidation.
IVF (Valencian institute of finance) – IVACE funding for SMEs and
entrepreneurs in the Region of Valencia.
PUBLIC FUNDING
8.5. External funding
54. María Jesús Pastor Llorca
maria.pastor@ua.es
Vice-chancellor's Office for Knowledge Transfer, Innovation and Dissemination