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Exploitation through spin -outs


3. Exploitation through spin -outs

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Exploitation through spin-out

The exploitation through of spin-outs is usually takes place, when:

- the exploitation of the product/service developed does not fit with parent firm strategy.

- the firm does not want to diversify its activity.

- wants to cope new markets.

- needs partners and/or to create a joint venture:

needs to include financial partners (risk capital)

complementary technical skills

local partner for exploitation in new market


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Exploitation through spin-out

Momentum for the launch of the spin-out.

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-Limit of potential financial risk to firm assets.

-Independence -Flexibility

-Can have support from parent/s company/ies -Transmit image of

innovative firm dedicate to new technology product.


-In case of joint ventures, potential loss of control.

-Lack of own historical data.

-Requires complete new structure.

-New infrastructure

-New multidisciplinary team -...

Exploitation through spin-out

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Whatever the means for exploitation:

-Sale of knowledge as stand alone product -Include new product/service within existing catalog of the firm

-Create a new firm to exploit the product/service

It is crucial to define a precise Business Business Plan Plan

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Objetives of a Business Plan

w Provide objectivity to the selection of different alternative exploitation channels.

w Reflect in a document the business strategy for the exploitation of its activity.

w It can be used for searching partners for the new business

w It is an instrument for the enterprise to plan and monitor its activity.

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Purpose of a Business Plan I

w 1. Reduce subjectivity of a situation w 2. Avoid ilusions .

w 3. Simple is clear and clear is easy to be solved.

w 4. Be concise. Exess of information can distract w 5. Direct and simple language

w 6.Virgin markets do not exist. You have to contribute to create new ones or cope existing ones.

w 7.Client orientation is natural, it is not a


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w 9.Game consist of taking attention to clients. The key is to be different and enjoy the preferences of potential clients instead of competitors.

w 10.Differentiation from competitors is crucial.

w 11.Commercial strategy consist on reach differentiation to the eyes of potential clients.

w 12. The Best organisation is the simplest one.

Purpose of a Business Plan II

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Index for a Business Plan

w Executive Summary

w Description of the firm to exploit the product/service w Business Description

w Product / Service

w Manufacturing, Purchases, Quality, Administration w Markets

w Competence

w Pricing policy

w Comunication

w Marketing

w Management

w Financial Planning

w Annexes

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Executive Summary

w Purpose of the Business Plan

w Project presentation (activity and objetives).

w Management Team.

w Presentation of the product and competitive advantages.

w Main Competitors.

w Potential Market.

w Expected Beneficies

w Financial Structure foreseen and role of the financial partner.

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Firm description/ Business Description

Firm description

w Profile of the firm:

Descrip., lines of activity, capacities...

w Property and structure:

Owner, director,... Articles, ...

w Current product and services:

Descrip. Clients, ...

w Localization:

Description of the placement, facilities, ...

w Objectives:

Mid term business objectives ...

Business description

w Fundamental Description of the business:

What is going to be sold, within which frame of activity it is, business sector to which it belongs to, how to get benefits, ...

w Description of benefit by clients:

Why a client is going to be interested in our product/service....

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w Description:

Functionalities, tangible and intang. caract....

w Technology of the product

w Estimation of its life cicle. How to increase it.

w Comparison in front of competitors’


. Patents, brand, copyright,...


w Manufacturing:

Process, technology, automation, costs, facilities required/available, degree of specialisation ...

w Pruchase:

What to buy or outsource. Concentrate on core competence

w Quality:

Quality assurance process

. w Adminsitration:

Information flow.

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Markets / Competence


w Market studies:

Quantitative or qualitative, exhaustive or general....

w Market segmentation:

Type of client, needs preferences, how take decision,...

w Market objective:

Market share, and paces, description, ..

w Clients’ profile:

User, the one who decides, pays, ..


w Identification:

Direct and indirect competitors

w Information sources:

Adds, clients, fairs, congress, interviews

w SWOT analysis

w Competitor is the foe in commercial war.

Defensive, Offensive, Side or Guerrilla strategies.

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Pricing Policy/ Communication

Pricing Policy:

w Prices must be defined inward.

w Danger of generic prices policy

w Estimation of market prices:

Clients (budget and max.

price, alternative solutions, ...

w Price of the technology:

Mini-Max & Shared profit

w Payment options:

User, the one who decides, pays, ..


w Need to contact with client:

Client must know why us

w Differentiation:

What makes us different from comp.

w Name/Brand:

Easy to remember, “nice to ear”

w Positioning:

The first better than the best, market is a perception battle field of rather than products battle field

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Marketing/ Management

Marketing Mix:

w Product:

Message of product accessible to client

w Price:

Pricing Policy

w Place:

How to bring it to the market

w Promotion:

Channels for making it know


w Management team w Decision criteria w Flowchart

w Operational structure w Staff planning

w Staff expenses

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Financial Plannig/ Annexes

Financial Planning:

w Financial analysis and forecast:

Balance sheets, exploitation results, credit lines, ... Sales estimation, balance estimation, ROI..

w Requirements of investment and finance:

Own and others’


w Structre and sources of investment w Investment withdrawl options Annexes:

w Firm catalogs w Product catalogs

w Detailed info. Quality, processes, techniques w Detailed info. Sales, clients, ...

w Team

w Financial historical data

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