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      • Open Access Article

        1 - How to Allocate University Spin-off Companies Equity Among their Owners
        Bahman Facoor
        Iranian academic sector is approaching research commercialization, although, creation of university spin-offs is an initial experience in this sector. Legislation of “knowledge based firms support and commercialization of invention and innovations” has provided great op More
        Iranian academic sector is approaching research commercialization, although, creation of university spin-offs is an initial experience in this sector. Legislation of “knowledge based firms support and commercialization of invention and innovations” has provided great opportunity for the creation of this type of firms in universities and research institutes. But universities and research institutes are still required to complete their infrastructures including rules and regulations needed for the creation of spin-offs. One of the most important of these is "allocation of university spin-off equity among their owners" regulation. Owners of university spin-offs are universities and research institutes, inventor researchers, investors and external entrepreneurs. Allocation of spin-off equity among these parties satisfactorily, is one of the important challenges to spin-off creation in universities and research institutes. This article first tries to identify founders and other parties that are gradually added to owners of spin-off companies. Then stakeholder's equity determinant factors will be discussed. Finally implementation of a framework for the allocation of spin-off companies' equity among their owners will be raised. 10 universities in America, Britain and Canada with spin-off creation experience have been studied in this article. Manuscript profile
      • Open Access Article

        2 - Spin-off companies establishment process in Universities and Research institutions
        Bahman Facoor
        University spin-off companies can be established based on research findings with contribution of relevant research groups and probably parent universities and research institutions. These companies are considered one of the most important mechanisms for research commerc More
        University spin-off companies can be established based on research findings with contribution of relevant research groups and probably parent universities and research institutions. These companies are considered one of the most important mechanisms for research commercialization and most profitable for parent institutions and on the other hand will cause economic development. This article is aimed to submit a university spin-off establishment process for use in universities and research institutions. To prepare this guide line the findings from papers in addition of current process that are used in other countries universities with successful experience in research commercialization and spin-off creation has been used. The following steps are defined as spin- off company creation process: Primary decision for spin-off creation (Idea generation and opportunity identification), Primary evaluation of spin-off creation feasibility, Primary approval of universities and research institutions for spin-off creation, Search for executives and agreement with them, Primary search for partners and investors and negotiation with them, Preparation of the main business plan, Evaluation of the main business plan by universities or research institutions, partners and investors, Definition and formation of company management structure and registration of company, Final agreement with partners and investors about the amount and manner of their participation and equities, Technology licensing from universities or research institutions, Universities or research institutions approval for attendance of founder researchers in company according to agreed plan, Preparation of company legal documents, Definition and formation of company board of directors. Manuscript profile
      • Open Access Article

        3 - Definition of University Spin-off Companies; Importance and Typology
        Bahman Facoor
        Creation of university spin-off companies as an academically entrepreneurship activity can be considered as a growing mechanism for university technology transfer. In comparison with technology licensing, Spin-off companies create higher financial return for owners of t More
        Creation of university spin-off companies as an academically entrepreneurship activity can be considered as a growing mechanism for university technology transfer. In comparison with technology licensing, Spin-off companies create higher financial return for owners of technology and will play an important role to regional and national economic development. This paper is to define university spin-offs in more detail and make clear the importance of these companies. University authorities‌ are interested in these companies, but need to know about different types of these companies for establishment and management university spin-offs. So, in this paper we have also tried to submit a comprehensive categorization of university spin-offs. Manuscript profile
      • Open Access Article

        4 - Benefits and Challenges of Commercialization of Research Centers Findings in Existing Industries
        Rooholah Ghabezi
        Research and development couldnt promote public welfare and national wealth without commercialization. Commercialization is one of the complicated stages of technological innovation process and there is no deterministic pattern for this stage. The minimum requirements f More
        Research and development couldnt promote public welfare and national wealth without commercialization. Commercialization is one of the complicated stages of technological innovation process and there is no deterministic pattern for this stage. The minimum requirements for successful commercialization of new technologies are as follows: adequate demand in market, superior potential performance to responses this demand, and an entrepreneurship organization or person with the sufficient resources, marketing and managing capabilities for delivering final product to market. One way to facilitating and accelerating commercialization is benefiting from exiting industries, which have required equipments to commercialize research findings and also have free capacity. In this paper after defining commercialization, benefits of using existing industries to commercializing research centers finings will be explain and then some of the current barriers which are in industries and research centers to benefit of existing industry for commercialization research results will described. Manuscript profile