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Scottish Spin-Out Study 2008

"...this study shows that greater focus on just a few key issues can lead to greater success."

George Boag, Chief Executive, Targeting Innovation Ltd

Scottish Spin-Out Study 2008

Targeting Innovation has assisted many spin-out companies since its inception 15 years ago, and has a long history of working with technology based businesses and early stage management teams, including successful assistance with the launch of several academic spin outs and start up companies.

 

The report findings suggest that more money should be focussed on fewer university spin-out companies in order to ensure greater success.  Targeting Innovation's Scottish Spin-Out Study

George Boag, chief executive of Targeting Innovation, states:  "It has long been recognised that technology from Scotland's universities represents a great opportunity, but this study shows that greater focus on just a few key issues can lead to greater success."

The report recommends:

  • Refocusing resources - more money should be concentrated on fewer spin-outs in order to ensure success,
  • Don't spin-out too soon - too many firms are spun out before the technology is ready,
  • Install commercial management sooner - it is important to employ a high calibre team at an early stage, including a commercial MD with detailed market knowledge,
  • More funding - more funds are required at start-up to help attract private investors.  

George added: "A choice needs to be made between spreading resources thinly to give as many spin outs as possible a chance, or progressively focussing on a select few.

"Effort and funding might be better directed to ensuring that fewer spin outs emerged, and were nearer to market when they did, and that they employed stronger commercial management sooner."

In compiling the report, Targeting Innovation gathered information on spin-outs from all Scottish universities and interviewed those involved in commercialisation at universities, the spin-out firms themselves, and private equity backers.

George added: "Targeting Innovation's constructive aim in commissioning this study was to offer some insight into the challenges facing Scottish university spin-out companies and influence policy and practice to ensure greater successes in future.

Since the reports launch in June this year, it has received several pieces of media coverage.  If you like to view a copy, please click Targeting Innovation's Scottish Spin-Out Study.

The study is also available for download in PDF format: Targeting Innovation - Scottish Spin-out Study 2008 Targeting Innovation - Scottish Spin-out Study 2008 1.22 Mb