Step 1
Information provided by the Innovation, Technology Transfer, and Entrepreneurship Center of the University of Thessaly (UTH) regarding the internal procedures, necessary accompanying documents, and available services.
Researchers interested in establishing a Spin-off to commercially exploit research outcomes must first contact the Innovation, Technology Transfer Unit, and Entrepreneurship Center of the University of Thessaly (UTH) to obtain information regarding internal procedures, necessary accompanying documents, and available services.
Step 2
Notification of the research outcomes with the intention of exploitation by the spin-off entity.
The researchers, fill-in and submit to the Innovation, Technology Transfer Unit, and Entrepreneurship Center of the University of Thessaly the “RESEARCH RESULTS NOTIFICATION FORM”, citing their research results.
Step 3
Establishing a Rights Acknowledgement Agreement
A “RIGHTS ACKNOWLEDGMENT AGREEMENT” is established between the Researchers and the University of Thessaly, wherein the ownership status of Intellectual Property Rights is thoroughly delineated. Additionally, where necessary, further actions are undertaken to enhance IPRs protection.
Step 4
Preparation of the File for the Spin-off Founding Application
Upon completion of the aforementioned steps, the researchers prepare the application file for the Spin-off Founding with the assistance of the Innovation-Technology Transfer Unit and the Entrepreneurship Center of the University of Thessaly (UTH), which provides them with the requisite documentation. Subsequently, the Innovation-Technology Transfer Unit and the Entrepreneurship Center of UTH conduct a preliminary standard check before the Researchers file them to the appropriate decision-making authority, namely the Director’s Board.
Step 5
Submission of the Spin-off Founding Request
The researchers submit to the Directors’ Board, the Spin-off Founding Request accompanied by the Draft Contract of Spin-off and the Draft Statute of the Spin-off. In addition to the application, the researchers submit data related to the business planning of the spin-off company, as well as the sustainability report for the Spin-off. Should the spin-off company wish to utilize the infrastructure and facilities of the University of Thessaly (UTH), a relevant, registered, and approved decision must be obtained from the academic unit to which the infrastructure and facilities belong (e.g., department, sector, clinic, etc.). This decision will delineate the terms of use, including the schedule and an annual fee that the spin-off company proposes to remit to the aforementioned unit.
In addition to the aforementioned documents or any clarifications regarding them, the services of UTH may require researchers to submit additional documentation to ensure that the application is deemed complete. This may include indicatively, legalization documents for by-chance co-founders [whether natural or legal (artificial) persons] associated with the spin-off company who are not affiliated with the UTH, as well as Tax Clearance Certificates or Social Security Clearance Certificates for the partners, or an agenda for commercial utilization.
Step 6
Submission of Proposal from the Innovation-Technology Transfer Unit and Entrepreneurship Center of the University of Thessaly to the Research Committee.
The Innovation-Technology Transfer Unit and the Entrepreneurship Center of the University of Thessaly (UTH) submit to the Research Committee Proposal regarding the Spin-off establishment.
Step 7
Articulation of the Research Committee’s Position to the Board of Directors.
The Research Committee presents to the Board of Directors its Opinion concerning the establishment of the Spin-off company.
Step 8
Decision by the Board of Directors regarding the approval of the establishment of the Spin-off Company, or not.
The Board of Directors issues a Decision on approving or rejecting the establishment of the Spin-off Company. The Decision approving the establishment, also determines whether the participation of the UTH in the Spin-off Company is approved or not. This decision encompasses the vesting of research outcomes, contingent upon the absence of any prior decisions or assignments of rights to the Spin-off. Furthermore, the Draft Contract for the Spin-off, along with various other matters outlined in the researchers’ application, will be subject to approval and acceptance.
The decision of the Directors’ Board regarding the establishment of the Spinoff Company based on the Researchers’ Request shall be issued no later than four (4) months. If a decision is not rendered within this timeframe, the Request shall be deemed approved, given that the Research Committee had provided a favorable Opinion.
Step 9
Spin-off Company Contract – Promissory
A “SPIN-OFF COMPANY CONTRACT – PROMΙSSORY” is signed between the UTH and the founders-partners. This Promissory Contract is based on the Draft Contract that has already been approved by the Board of Directors’ Decision.
Step 10
Incorporation
The Founders – Partners shall initiate the establishment of the Spin-off – Company within six months from the issuance of the approval Decision or following the expiration of the four-month inactivity period subsequent to the positive Opinion of the Research Committee.
Following the establishment of the Spin-off Company, the Partners are required to submit to the UTH a copy of the Statute that has been vetted by the General Commercial Register. This document must align in content with the Statutes Draft that the Researchers submitted as an attachment to the “SPIN-OFF FOUNDING REQUEST”.
Step 11
Conclusion of the Divestiture Contract
Τhe Divestiture Contract is concluded between the UTH and the Company Spin Off, along with the stipulations for the granting of license exploitation rights or transfer.
Researchers, as well as the Founding Company-Spinoff, are prohibited from engaging in any commercial exploitation of the research outcomes until the final contract with UTH is concluded.