Spin-Up: A Comprehensive Program Aimed to Accelerate University Spin-Off Growth

• Type: Article in International Conference Proceedings Book
• Date: 2013

Authors

Manuel Oliveira (Author) FEUP; João José Pinto Ferreira (Author) FEUP; Ye, Q (Author) Other; van Geenhuizen, M (Author) Other

Conference proceedings International

Title: PROCEEDINGS OF THE 8TH EUROPEAN CONFERENCE ON INNOVATION AND ENTREPRENEURSHIP (ECIE 2013), VOL 1

Pages: 34-44

8th European Conference on Innovation and Entrepreneurship (ECIE)

Brussels, BELGIUM, SEP 19-20, 2013

Indexing

ISI Web of Knowledge - 8 Citations

Other information

Authenticus ID: P-009-Y2B

Abstract (EN): The Spin-Up project has the objective of determining what sort of entrepreneurship training and coaching program will contribute to the development of key entrepreneurial skills, both technical and behavioural, essential to enable and leverage university spin-off growth. University spin-off firms (USOs) tend to grow at a slower pace than corporate spin-offs or other young high-technology firms, which underlines the need for the project. The Spin-Up project is funded by the European Commission within the scope of the Erasmus Program (Enterprise and University cooperation) / Lifelong Learning Program. The project commenced in 2011, and the consortium is made up by five entities from three countries and one associated partner country. 99 face-to-face interviews and surveys of CEOs and members of USO management teams revealed that a number of entrepreneurial skills were missing and hampering growth, namely skills (top 10) to: gain financial capital; internationalize; increase sales; be financially literate; manage marketing; manage human resources; manage operations; understand economic principles of business; grow based on strategic management; and understand an approach keen on intellectual ownership protection. These findings guided the development of the training program, to be delivered to USO CEOs and other USO senior managers. Full pilot training sessions have already been delivered in the Netherlands, in Finland, and in Portugal. The training was delivered based on: 1) initial exploratory questions; 2) subsequent providing of background theory; and 3) finalizing with further practical questions on the subject matter. In this way, engagement of the spin-off firms was increased throughout and the training had a very practical approach, centered on problem-solving and real life examples, challenging participants to think about their day-to-day issues hampering growth. The areas in need of specific training were defined as being innovation, marketing and sales; overall strategy; finance; internationalization strategy; and leadership and human resource management. Networking opportunities occurred between peers during the training sessions and also with various key specialists, like a business angel (in Portugal) and venture capitalist (in the Netherlands). In terms of what the consortium partners have produced, tangible materials include training manuals and case studies, to support the training effort.

Language: English

Type (Professor's evaluation): Scientific

No. of pages: 11