Companies find in universities an ally to innovate and renew their portfolios. Learn about five key aspects for the development and future of the Spin-off in Colombia.
From the classroom to social transformation: thanks to the spin-off, ideas from academia such as Instagram, WhatsApp, YouTube and Netflix went from being shelf projects at Stanford University to forms of communication and entertainment that changed the lives of millions of people .
From startups to spin-offs : unlike startups that are born from innovative ideas, spin-offs are created within a company, academic center or research institute that has its intellectual property rights protected.
“Spin-offs are an opportunity for companies to create and find new utility models and identify a differential value in intellectual property, the opportunity to renew themselves and consolidate an innovative organizational culture.”
From paper to action: to increase the opportunities for these ventures and regulate aspects such as the delivery of incentives for the exploitation of intellectual creations, Law 1837 of 2017 was created in Colombia, which defines some categories and favors the inclusion of employees and public institutions in its constitution. “They are also an opportunity for companies to create, find different utility models and identify a differential value in intellectual property, the opportunity to renew and consolidate an innovative organizational culture,” explains Gustavo Buitrago Hurtado, National Director of Extension and Intellectual Property from the National University of Colombia.
From the idea to the business solution: for Spin-offs to be viable, the relevance, feasibility and sustainable projection in the short, medium and long term must be considered. And then other aspects such as commercial survival and profit sharing that encourage the establishment of new R&D funds. Intellectual property rights, for their part, must be considered from the outset because they are part of the business model. “Each case is specific and must be resolved with regard to the product or service, the relationship between the partners and the investment during the planning and execution of the project,” says Adriana García, director of Innovation at Eafit University.
From investment to business benefits: What do companies gain from spin-offs ?:
- Benefit from innovative and high value-added entrepreneurship.
- Have the academic, scientific support, prestige, trust, security and solidity of researchers, laboratories and certified institutions.
- Optimize costs and expedite the renewal of the business portfolio.
- Reduce the risk of investing in new products or services.
- Receive royalties for intellectual property licensing.
5 successful spin-offs in Colombia
- HolaDr, telehealth care model for pediatric consultations (Intergrupo, CES and Seguros Sura).
- LiiB, bioinput to control the fungus that causes sigatoka (Eafit and Augura).
- Bit Data, data processing through artificial intelligence (Technological University of Pereira).
- Siotics, automation and control through the internet of things (Catholic University of Manizales).
- Faktor Bureau, services and products focused on financial risk (Universidad de Medellín).