The proportion of university spin-out companies USOs that succeed is tiny.
Unless universities are prepared to back their spin-outs with appropriate resources, most will continue to fail,' writes lead researcher, Professor Mike Wright. The poor performance of UK university knowledge transfer activities, including USOs, had already been highlighted in by the Lambert Report on university-business collaboration.
Spin Outs: Creating Business From University Intellectual Property
Following this, government policy concentrated on encouraging universities to commercialise their intellectual property by launching entrepreneurial spin-outs. Despite policy changes, 'while scope exists for wealth generation from the commercialisation of research, in practice there is plenty of room for improvement,' states the Nottingham University report. The report identifies a variety of factors that tend to hinder spin-out activities. These include the availability of finance, planning for a clear process, the amount of time university staff can devote to the spin-out companies and the space available at science parks.
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More importantly, noted the report, is 'the clash of commercial and academic cultures. I'm pleased to report that my experience with this book was exactly the opposite. The first half could almost be called a handbook on how to create successful spin-outs. Richard's extensive real world experience with this subject matter instantly shines through.
He writes in an easy to read, down-to-earth style, and his sense of humor crops up often in the text.
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He takes a very complicated subject area and makes it simple to understand, particularly some of the softer "people" issues which can be so difficult to deal with in real world spin-outs. I also enjoyed the historical background on spin-outs, which was concise and to the point--told me just what I needed to know without getting bogged down in too much detail.
And the story of his own spin-out was fascinating. I would highly recommend this book to anyone who wants a quick, clear primer on spin-outs, as well as those who are actively involved in creating these types of businesses. It has already helped me immeasurably with my own work. Amazon Giveaway allows you to run promotional giveaways in order to create buzz, reward your audience, and attract new followers and customers.
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