In the global innovation ecosystem, where transforming knowledge into high-value solutions is a priority, spin-offs are positioned as a key instrument for driving science- and technology-based economies. These entities, which arise from universities, research centres or companies, play a strategic role by converting research results or internal developments into marketable products and services. Intellectual property (IP) plays a critical role in this context to ensure both the protection and competitiveness of these innovations. Its role is vital as it enables ideas that emerge from research and innovation processes to not only reach the market, but also do so sustainably, creating a lasting economic and social impact.
A spin-off is a company created from an academic, scientific, or business entity with the purpose of bringing specific technology, knowledge, or development to market. Unlike conventional ventures, spin-offs are built on the basis of validated innovation, making them especially relevant when accelerating technology transfer processes while also promoting a culture of innovation, enhancing science-based entrepreneurship, and fostering collaboration between universities, businesses, and the government.
In countries like Colombia, for example, Law 1838 of 2017 regulates the establishment of these entities, promoting scientific and technological entrepreneurship. This legislation clearly defines the stages for forming them, ranging from internal assessment to legal incorporation and implementation. It includes benefits for researchers and educators, as well as mechanisms for institutions to reinvest surpluses, thereby strengthening the innovation ecosystem.
There are several examples within the scope of Colombian universities. For instance, the National University of Colombia – Manizales campus has promoted spin-offs such as Inference, which develops artificial intelligence tools and software to commercialise research-derived technologies, and Harka, dedicated to the development of industrial simulators and specialised machinery. The University of La Sabana has Innfood, which markets functional ingredients for the food industry, while the University of Cartagena has UNIMOL, a laboratory specialising in molecular diagnostics recognised by the Ministry of Science, Technology, and Innovation (MinCiencias) for its contribution to the detection and sequencing of SARS-CoV-2 variants. Moreover, EAFIT University has developed Tezio, which offers technological engineering solutions for various productive sectors, and the University of Antioquia has Inbacter, which focuses on biotechnology applied to microbiological control in agribusiness and healthcare. In Chile, the University of Santiago de Chile started U-Sensing, which develops sensors for the real-time monitoring of mining processes, and in Argentina, the National University of La Plata excels with Gisens Biotech, dedicated to developing rapid diagnostic devices based on biosensors.
These cases demonstrate how universities and research centres throughout the region can transform scientific results into innovative companies capable of generating economic and social value. They also show how spin-offs are positioned as an effective bridge between academic knowledge and the market, boosting technology transfer in various sectors.
The dynamism of spin-offs is also linked to the strength of their collaborative networks. An analysis carried out by Scandura (2022) with data from 108 universities in several European countries between 2014 and 2017 found that the number of joint projects with companies, including co-authored patents, has a positive and statistically significant effect on the creation of spin-offs. Although the study focuses on Europe, its findings are applicable to Latin America: the early interaction between universities and industries not only accelerates technology transfer, but also increases the likelihood of developments reaching the market as viable companies, thereby strengthening the innovation ecosystem.
All the potential of spin-offs would be unsustainable without one key element: the protection of the innovative results they generate. In a setting where ideas can be quickly replicated, intellectual property (IP) acts as a tool that allows these developments to be scaled and sustained. Without the legal and strategic backing provided by IP, the impact of these companies would be diluted before they reach their true potential. In the case of a spin-off, strategic IPR management ensures control over the use and exploitation of the developed intangible assets, prevents unauthorised uses or imitations that compromise its competitiveness, and fosters attracting investment and establishing technology transfer agreements with greater legal certainty.
This relationship between IP and the success of spin-offs is shown differently in each context. For example, according to Morales Gualdrón, the phenomenon of spin-offs is more established in Spain: an average of 113 companies of this type were created annually between 2007 and 2016, many of them with university shareholdings. This activity has been driven by growing investment in R&D&I, which increased from 0.78% to 1.21% of GDP between 1996 and 2016. Furthermore, an average of 1,603 patent applications were filed by Spanish residents annually between 2007 and 2016.
In contrast, although consolidated figures regarding spin-offs in Colombia are not yet available, it is known that spending on research and development was just 0.185% of GDP in 2007, increasing to 0.306% in 2014, and then dropping again to 0.243% in 2017. In terms of intellectual property, Colombian residents filed an average of 314 patent applications annually between 2007 and 2016.
This situation reflects the fact that, despite the urgent need to strengthen science, technology, and innovation (STI), public investment continues to be limited, forcing us to seek alternative mechanisms to fund and sustain research. In this sense, spin-offs represent a strategic way for higher education institutions, especially those that depend heavily on state resources for R&D&I, to capitalise on and market the developments already generated, reinvesting their profits in new scientific projects. Likewise, they provide an opportunity for companies that seek to further innovate to find an agile model in the creation of spin-offs so that they can explore emerging markets and diversify their portfolios, without relying exclusively on government funding.
Law 1838 of 2017 represented a significant step forward by enabling higher education institutions and their faculty to participate in the creation of spin-offs. In particular, by allowing employees of public universities to be involved in commercial activities without being disqualified, it removed the main barrier to the business transfer of research results. Furthermore, the regulation recognised that knowledge assets protected by intellectual property are valid contributions to the capital of these companies, enabling their commercial exploitation.
Although this legal framework laid the foundation for the development of academic spin-offs, structural challenges continue to exist. The lack of clear regulations and uniform guidelines from the Ministry of Science, Technology and Innovation create regulatory gaps that, in the case of public institutions, maintain uncertainty with regard to fiscal and disciplinary control, discouraging their participation as partners in these companies. In addition to this, there are difficulties in precisely defining the ownership and distribution of benefits derived from intellectual property, the absence of specific tax incentives, and the scarcity of specialised financing sources. Together, these factors limit the development and scaling of technology-based companies in Colombia.
On the other hand, structural limitations that restrict these companies’ ability to grow persist: while established ecosystems and networks seeking to connect entrepreneurs with strategic investors have existed for years, the efforts made have not been sufficient to cover the level of demand and the specific needs of science- and technology-based projects. Added to this are the still insufficient research infrastructure and funding mechanisms poorly suited to initiatives of this type. These factors depend not only on the willingness to innovate, but also on the existence of an ecosystem with the scale, tools, and resources required to compete nationally and internationally.
Some of the most significant challenges include the limited culture around IP management, the lack of internal processes for its protection and exploitation, and the difficulties in negotiating rights between researchers, universities, and investors. Moreover, as Sánchez-Esgua points out, there is an ongoing misperception of intellectual property as an obstacle, rather than a key competitive advantage. Some cases, nevertheless, show us that when managed properly, IP can become a key competitive advantage. A good example of this is Screen Capital in Chile, which created the Screen II fund, backed by private capital and the Production Development Corporation (CORFO), to invest in creative and technology industries. In this model, protected IP becomes a central asset for attracting funding, sharing risks, and accelerating growth.
Overcoming these barriers is essential for spin-offs to decisively contribute to regional development, involving coordination between different countries that share challenges and opportunities in science, technology, and innovation. In Latin America, for example, collaboration between ecosystems with complementary strengths would allow spin-offs to access broader markets, share infrastructure, and generate joint projects with an impact that transcends borders. To do so, specific actions must be carried out: strengthening the capacities of researchers and entrepreneurs in IP management, defining clear technology transfer policies in knowledge-generating institutions, and establishing effective mechanisms to promote public-private partnerships that make the scaling and sustainability of these initiatives possible.
Spin-offs represent a powerful tool for transforming knowledge into solutions with an impact. Whether originating in a university or a company, they allow us to explore new opportunities, diversify business models, and generate economic and social value. But for that value to be sustainable, innovation must be protected from the start. Intellectual property should not be viewed as a formality, but rather as a strategy that transforms knowledge into an asset, an asset into value, and value into impact.
Written by: Laura Patiño. IP Business management and training – PONS IP Colombia
References
- Acosta Medina, J. Contreras Pacheco, O. & Pedraza Avella, A. (2024). Factores que inciden en la creación de spin-offs universitarias: un análisis multinivel desde la literatura. Estudios Gerenciales, 40 (170), 31-44. Electronic publication dated 30 April 2024. http://www.scielo.org.co/scielo.php?script=sci_arttext&pid=S0123-59232024000100031
- Bustos Villalba, J. V. (2023, February 15). Empresas spin-off: una estrategia por fortalecer. Eureka – University of Manizales. https://umanizales.edu.co/eureka/noticias/empresas-spin-una-estrategia-por-fortalecer
- Congress of the Republic. Law 1838 of 2017. Colombia. https://minciencias.gov.co/sites/default/files/upload/reglamentacion/ley1838-2017.pdf
- Inexmundi. Colombia – Gasto en investigación y desarrollo (% del PIB). https://www.indexmundi.com/es/datos/colombia/gastos-de-investigaci%C3%B3n-y-desarrollo#GB.XPD.RSDV.GD.ZS
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- Morales Gualdrón, S. (2020). Una mirada a la evolución de la creación de spin-offs académicos en países iberoamericanos: los casos de España y Colombia. Tec Empresarial, 14 (2), 32-46. https://www.scielo.sa.cr/scielo.php?script=sci_arttext&pid=S1659-33592020000200032
- Ospina Sánchez, J. D. (2021, September 27). Avances y retos jurídicos de las Spin-Off. UdeA Noticias. https://www.udea.edu.co/wps/portal/udea/web/inicio/udea-noticias/udea-noticia/%21ut/p/z0/fYy9DoJAEIRfxYaS7Ip4akksTIyFhTGwjdnABVZxj5_T8PiCNtrYTL6ZzAwQpEDKTynZi1OuR5-Ruaw322iexHhAExtMzDFerqLd4nRG2AP9L4wPcm1bSoByp94OHtLGdZ7rR2E5QO5_XeXu9sOTztR5yYX7AN9rlcJNra9YrI4UoB0aF4qWNszZ26JjaG6UvQDGikjT/
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- Sánchez-Esgua G. El papel de la propiedad intelectual en la creación de spin-off. Alianzas y Tendencias BUAP [Internet]. 2016;1(3):6–8. Available from https://www.aytbuap.mx/aytbuap-13/el-papel-de-la-propiedad-intelectual-en-la-creaci%C3%B3n-de-spin-off
- Scandura, A. (2022). University–industry collaboration and the creation of university spin-offs. Heliyon, 8(10), e10562. https://doi.org/10.1016/j.heliyon.2022.e10562
