Spin-off. Theoretical Approach Overview

In a world facing unprecedented challenges, entrepreneurs must focus their attention towards new opportunities to improve their products and services for higher turnovers. Innovation is the key that solves this challenge. In the scholarly literature, innovation has a wide range of approaches to conceptualizing. Innovation is re-working of an old idea or the transferring and embedding of existing ideas in to a new setting. The focus of the paper is to underline the following concepts: innovation, research in universities, technological transfer, spin-offs, start-ups and the differences between the last two. In order to understand how companies can be more competitive, the main attention in this article is paid on the importance of innovation, in a context very close related with the universities. The main questions to be explored are: what is a spin-off and what is the role of innovation in economy, where do the routes with the university stop in the context of a society in a continuous change? Present paper tries to answer in an original manner aforesaid mandatory questions.