WIPO Launches TTO Network Mentoring Program for the Spin-offs in Baltic States

May 2 and 3, 2024

The World Intellectual Property Organization (WIPO) and the Patent Office of the Republic of Latvia, in collaboration with the Baltic TTO Network, have initiated the Spin-offs Mentoring Program for technology transfer (TT) professionals in the Baltic States. This program was launched at the Regional Conference on Supporting Spin-offs in the Innovation Ecosystem, held in Riga, Latvia, on May 2 and 3, 2024.

The two-day conference brought together around 70 stakeholders, including government officials, IP office representatives, local and international IP and venture capital (VC) experts, and spin-off representatives, to discuss the experiences and challenges in creating and managing spin-offs.

The majority of attendees identified several key issues, including:

• Low quality of R&D
• Scarcity of professional staff
• High competition among TTO staff and lack of collaboration
• Confidentiality risks with researchers
• Limited access to lab space for spin-offs
• Funding challenges
• Few opportunities for spin-offs
• Difficulties in finding suitable investors.

Andrea Basso, an Advisor at the Progress Tech Transfer Fund, emphasized the importance of IP in securing investment for spin-offs. His findings show that businesses with protected IP are ten times more likely to attract investors. Additionally, a high-quality patent can lead to a 55% increase in employment and an 80% growth in sales within five years. However, he noted a common challenge: researchers often struggle with transitioning from academia to becoming co-owners and stakeholders in their spin-off companies.

Adam Hillestrøm, Non-Executive Director at Marionette ApS, Venture Cup, Flow Robotics A/S, and the mentor of the Program, highlighted that the challenges in managing technology transfer (TT) processes stem from differing approaches and expectations among universities, government, funders/VCs, and industry. He stressed that a better understanding and consideration of each party's interests could facilitate balanced deals.

The event offered an opportunity to understand the context in which the Spin-offs Mentoring Program is taking place. This program aims to mentor and train technology transfer professionals in the Baltic States, emphasizing best practices in technology transfer and commercialization. It features onsite training and webinars conducted by international expert Adam Hillestrøm and other technology transfer professionals globally. WIPO intends to expand this program to additional regions in the future.

"The Baltic States have significant potential for innovation and entrepreneurship. This program will help unlock that potential by providing the necessary support and expertise to technology transfer professionals," stated a representative from the Baltic TTO Network. "We are excited to be part of this initiative and look forward to witnessing its positive impact on the region."