Spin-offs. They are often associated with capital-intensive and research projects that a team of scientists aim to commercialise. These are the so-called academic spin-offs. Some of these are successful, but many die a quiet death.
However, spin-offs created in the industrial and service sectors often have a greater chance of survival. These spin-off businesses, which are created from the non-core activities or non-core competencies of an existing company, manage to benefit from their new stand-alone structure as well as from the continued support of their parent companies by tapping into new markets and by developing their own momentum.
Due to increasing competitive pressures, companies are more and more forced to focus on their core activities and core competencies. Nevertheless, it would be a shame not to create new business from promising non-core business activities. Flemish businesses and organisations looking to identify, investigate and exploit spin-off opportunities will benefit from professional guidance.
Innotek has been a benchmark performer in the area of industry and services spin-offs since 2005. Driven by the mission to stimulate entrepreneurship and to create sustainable employment, most recently Innotek coordinated the ERDF project ‘More entrepreneurship by industrial and services spin-offs’ for four years. With the successes of this project, Innotek has been able to demonstrate the advantages of such spin-offs for the companies involved and for the economic growth of the region in which they were ealized.
During the last 4 years, Innotek, together with its network of spin-off coaches, investigated the spin-off feasibility of non-core activities of more than 300 companies. More than 80 of these companies already managed to successfully grow these activities into new businesses or independent business units.