Spin-off Companies of University of Tartu
According to the principles for creating spin-off companies of the University of Tartu (UT) and the university’s cooperation with such spin-off companies:
- A spin-off company is a company that, based on an agreement with the UT, wishes to underline its affiliation with the university to develop its commercial activities;
- its founders and/or partners include the university and/or employees or students of the university;
- and it uses the intellectual capital and/or infrastructure of the university in its activities. Intellectual capital comprises knowledge, information, intellectual property, experience, etc.
In 1999, the Spin-off Program of UT was launched with 9 projects/companies formed. After that, 2-3 new companies per year have been created. Between 2010 and 2013 into the list of spin-off companies was added 3-4 companies per year on average. 2014 into the list of university spin-off companies was added more 6 companies. 2015 into the list was added more 9 companies. 2016 there are three new spin-off companies: Villeman Biotech OÜ; Sporditeraapia Keskus OÜ and Captain Corrosion OÜ added into list.
However, UT has no ownership in companies, the ownership of university member (academician) is considered to be sufficient. It could be said that UT expects indirect returns and socio-economical impact for society.