Exploring the Roles of European Funds in the Life Cycle of Romanian Spin-offs

Abstract

Academic spin-offs bring researchers together, foster experience, sharing a creative atmosphere with the purpose of creating new products/services in order to commercialize them. University spin-offs are an important vehicle for knowledge diffusion and economic growth. Despite their importance, little research exists in spin-off performance or impact at national level in Romania, especially from the perspective of academic entrepreneur. In order to understand the spin-off concept, the main focus of this article is to provide a better understanding of the spin-off mechanism and also how can it be facilitated in a regional context. The paper analysis the situation of spin-offs opened through the European Program “Increase of Economic Competitiveness” (2007-2013) during all the period from the start and till the last available financial dates. In order for Romania to become more competitive it has to improve the activity of the innovative firms, especially spin-offs and start-ups. During 2007-2013 there have been created 120 innovative companies out of which 19 spin-offs and 101 start-ups. But did the EU funds accessed between 2007-2013 had a real impact on the development of this companies? This article analyses and tries to answer this question.