Start-up

What is it start-up?

Among the various definitions, one can choose one that defines a start-up company as an entrepreneurial entity, typically described as a newly established or start-up company that is developing rapidly based on an innovative business concept using advanced technologies and has a high potential for economic growth.

Startup definition at Wikipedia

Start-up BUT

What is it Start-up BUT?

The term Start-up BUT means a legal entity registered in the Commercial Register, or similar registration in the case of a foreign legal entity:

• which has not been registered for more than 10 years,
• which is entitled to use the Start-up BUT designation, or other designations specified therein, on the basis of a written agreement with the BUT, and at the same time
• that develops knowledge or skills acquired at the BUT in their other business;
• and in which the BUT may have an ownership interest.

BUT start-ups are founded by BUT employees or students who develop knowledge or skills acquired at BUT in their next business.

How to set up a BUT Start-up?

The procedure for establishing a BUT Start-up is governed by internal regulations and standards. In the case of an equity contribution by a school, in addition to approval at several levels, an application is submitted to the Industrial Council of the BUT for approval. The Knowledge Transfer Department assists in the whole process. However, the initiative and motivation of the founders is most important in the establishment and successful functioning of a BUT start-up.

Start-up or Spin-off?

The link between the company and the university can be close in various ways. The difference between the concept and designation of Spin-off BUT and Start-up BUT is illustrated in the following table.