Case Study: Wearable Systems - Developing Biomedical Devices: Design, Innovation and Protection - page 69

The direct transfer of technology from universities to industry can be accom-
plished in different forms: (a) patent licensing agreements, and/or (b) joint patents
with a company, or (c) creation of joint applied research laboratories and testing
procedures.
They are complementary and they probably represent the more standard option
and, traditionally, the most used form.
But by developing among academics, researchers, and graduate students an
innovative culture of enterprise and entrepreneurship, it is possible and desirable
that they can take an active part in the creation of new businesses. In this way, the
creation of university spin-off and start-up is not only the result of innovative tech-
nology originated in the university, but also the ability to create a group of individ-
uals working directly to evolve technology/prototypes into new products, systems
or services, with the possible support of one or more industrial partners, [ 7 ].
The idea behind this proposal is that ownership of the innovation can ease
translation into new products.
In this context, Politecnico di Milano is promoting initiatives by its facilities,
staff and students for the creation of new companies (for the production of goods
or services) arising from the research results of the University and therefore con-
sistent with the academic purpose of exploitation of research [ 8 ].
In general, a university spin - off is a new company that brings to the market the
results and technologies developed through research by offering services and prod-
ucts, particularly in high technology sectors.
Such an initiative is in a favorable condition for entrepreneurial innovation
by virtue of the close link with the research world and because, on account of its
approach/culture, it invests a considerable part of its resources in R&D.
Typically, a spin-off company includes among its founding members the
University that has generated the innovation on which the company know-how is
based. This means that the University is a shareholder.
There are however cases where the University is not directly involved but the
company implements an innovative product derived from university research, for
instance under a patent license agreement.
This definition previously identified the academic start - ups , i.e. any business
company in which the University does not participate directly as a shareholder but
which aims at the development of pre-competitive products and services derived
from the research results of the University itself.
The creation of a spin-off or of a start-up that can have real potential for suc-
cess on the market is based on some essential requirements:
• the technology , defined as the set of knowledge produced by the University and
responding in a unique and meaningful way to a market need elicited from a
clear and rigorous analysis that identifies strengths and weaknesses, as well as
risks and opportunities in the short and especially in the long term; this knowl-
edge can be either codified (e.g. in a formula, described and commented for
understanding) or simply practical, protected by IPR (e.g. in a patent). This point
can be summarized in two parts: the patent or the uncodified know-how and a