The role of universities in fostering knowledge-intensive start-ups -according to German experiences-

Academic spin-offs belong to a special form of technology transfer through research institutions and generate sustainable positive economic effects. They ensure that developed ideas can be transformed into marketable products much faster and create better market opportunities. They become an essential role in the competitiveness of developed economies. The Federal Government of Germany has established a broad supporting program for spin-offs from public research institutions in recent years. In 1997, the EXIST program started with the aim of activating entrepreneurial thought and action, supporting spin-offs and improving the start-up climate at Germany's universities and non-university research institutes. Thus, the quantity and success of young technology-oriented and knowledge-based businesses should be increased. This paper shows the economic relevance of academic spin-offs and describes the public support program of the Federal Republic of Germany enhancing knowledge-based spin-offs.