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15:38 Feb 7, 2009
English to Chinese translations [PRO] Bus/Financial - Management
English term or phrase:spinnovation: spinout and spin-in
A spin-out is a firm formed when an employee or group of employees leaves an existing entity to form an independent start-up firm. The parent entity can be a firm, a university, or another organization. Spin-outs typically operate at arms length from their parent organizations and have independent sources of financing, products, services, customers, and so on. In some cases, the spin-out may license technology from the parent or supply the parent with products or services.
Explanation: spin-out (also spin-out company) noun a company which is set up by a university or a larger company to make commercial use of a new technology that has been developed in research: The research led to the formation of a spin-out company. * A new spin-out is by definition a risky venture for the university. * The creation of these new spin-out companies benefits local economic development.
In order to develop technology which a university or company can then use for its own needs, the institution can become the partner of a company which already exists: this is then called a spin-in or spin-in company: The new fund will be able to invest in spin-in companies. * We support spin-ins - those companies that wish to work with the University to develop their product. The nouns spin-out and spin-in can also be written without a hyphen: Part-time programmer wanted to join this Oxford University spinout company. Many nouns like these are formed from phrasal verbs that already exist, and these are related to the noun spin-off, which comes from the phrasal verb spin (sth) off (from sth).