Create value at the University: Financial and management problems in USOs

Abstract

The aim of this work is to analyze the phenomenon of university spin-off (USOs). The importance of this chance as a vehicle for the realization of university research results is underlined by the development that this kind of company have had in Italy in recent years. The study is led both through literature and the analysis of a case. The reported experience is the one of the USOs of Tuscia and allows to highlight how the beginning of a USOs is a complex process that often must overcome many obstacles as in management, in corporate governance and above all in financial, because of the difficulty in finding economical resources. That’s why, the use of normal instruments of management control can make easier the start-up of these companies contributing to the creation of a clear organizational structure. It also assumes the possibility of further development of these companies, thanks to their innovative and high technology and to investment founds through venture capital operations, especially in the start-up phase of the company.