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Belgian TTOs and their spin-offs: a match made in heaven? A quantitative survey.
1. NautaDutilh’s Multi-disciplinary R&D Team presents:
Belgian TTOs and their Spin-offs: A Match Made
in Heaven?
International Law Firm | Amsterdam · Brussels · London · Luxembourg · New York · Rotterdam
2. Presentation of the report & lessons learned
Introduction
- Conversations within our multi-disciplinary group about the specific
role and functioning of TTOs and their relationship with spin-offs.
- Commitment of the 6th GUS (Global University Summit): “to
continue to promote contract research, knowledge transfer and
technology commercialisation, thus creating jobs and new
businesses that promote sustainable development and
ecoconomic growth”.
- We wanted to clarify the situation in Belgium. Together with other
questions, this led to our survey and subsequent report, with the
objective of providing a brief overview in terms of figures and stats.
International Law Firm | Amsterdam · Brussels · London · Luxembourg · New York · Rotterdam
3. Presentation of the report & lessons learned
Methodology
- Telephone and face-to-face interviews with nine TTOs + one
interview by e-mail.*
- Interviews conducted between 15 July and 25 August 2013,
- A conscious decision was made not to distinguish between the
regions.
- Two additional interviews with other relevant players in the field
provided us with extra information.**
*
The university TTOs we interviewed: KUL, UA, UCL, UG, UHasselt, ULB, ULg, UMons,
UNamur and VUB.
**
The two additional interviews were conducted with Qbic and VIB.
International Law Firm | Amsterdam · Brussels · London · Luxembourg · New York · Rotterdam
4. Presentation of the report & lessons learned
Striking Results (1)
- Some 35 new spin-offs are expected to be created in the next
twelve months.
In total, there are at least 100 pipeline projects that could
evolve
into spin-offs in the next five years.
- 8/10 TTOs said they would launch an ICT spin-off in the next
twelve months. ICT is by far the most popular sector.
The ‘popularity’ of IT is confirmed in the five-year trend. The most
striking difference: the number of possible spin-offs in
(renewable) energy & clean tech.
International Law Firm | Amsterdam · Brussels · London · Luxembourg · New York · Rotterdam
5. International Law Firm | Amsterdam · Brussels · London · Luxembourg · New York · Rotterdam
6. Presentation of the report & lessons learned
Striking Results (2)
- The number of licensed projects over a 12-month period can be
compared to the number of spin-offs over the same period. But the
responses were very divided.
- Top factors which determine whether a project will be licensed out
or evolve into a spin-off:
1.
2.
Scope of potential applications and researchers’ personal preference
Identification of an industrial partner
International Law Firm | Amsterdam · Brussels · London · Luxembourg · New York · Rotterdam
7. Presentation of the report & lessons learned
Striking Results (3)
- Top factors which determine the success of a spin-off:
1.
2.
Market potential and the quality of the management team
Support from investors
International Law Firm | Amsterdam · Brussels · London · Luxembourg · New York · Rotterdam
8. Presentation of the report & lessons learned
Striking Results (4)
- What types of external support are essential for a spin-off?
1.
2.
Financial support
Management support
International Law Firm | Amsterdam · Brussels · London · Luxembourg · New York · Rotterdam
9. Presentation of the report & lessons learned
Striking Results (5)
- What type of investor do you consider adds the most value?
1.
2.
University / seed funds
Venture capitalists
International Law Firm | Amsterdam · Brussels · London · Luxembourg · New York · Rotterdam
10. Presentation of the report & lessons learned
Striking Results (6)
- 60% expect one to five transactions in the next year; 30% believe
five to ten transactions will take place. One respondent will have a
very busy year with more than ten transactions coming their way.
- What type of
transaction do you
expect in the next
12 months?
International Law Firm | Amsterdam · Brussels · London · Luxembourg · New York · Rotterdam
11. Presentation of the report & lessons learned
Conclusion
- There is generally a positive attitude within university TTOs
towards the creation of spin-offs, but there is still a long road
ahead to increase the number of success stories.
- An increase in the number of spin-offs will not necessarily lead to
an increase in the return for universities.
- The leading position of the ICT sector is striking. After all, spin-offs
in the biotech and medical devices sectors tend to receive more
press coverage. This could have something to do with the fact that
most ICT spin-offs don’t make it to the IPO stage, a stage which of
course attracts media attention.
International Law Firm | Amsterdam · Brussels · London · Luxembourg · New York · Rotterdam
12. Presentation of the report & lessons learned
Conclusion
- Qualitative management is key - in negotiations with investors &
shareholders, business development, relationships with
stakeholders, and keeping the business and employees on the
right track.
It’s difficult to find the right qualities + financial resources are
limited. Hence the importance of expert external support.
- Most respondents expect substantial financing activity in the
coming year.
- It remains a very risky business environment. Luckily, it also
promises to remain a very active environment in the coming years,
and we will certainly see a few new rising stars.
International Law Firm | Amsterdam · Brussels · London · Luxembourg · New York · Rotterdam
