Technology-Based Firms and spin-offs are emerging entrepreneurship within a university or research center to exploit and capitalize on market research results of science and technology developed from research activity, and in which active members of the university community responsible for the development of such technologies or knowledge based business project.

Through these companies, research centers outsource the development and commercial exploitation of technology and researchers are able to implement their projects business, knowledge and results of R&D.

Its main features are:

• Emerge within universities and research centers.
• Involving members of the university community, especially those researchers from the research group that develops the knowledge on which to base the future enterprise.
• They have a large component of R & D: they are knowledge-intensive companies, in which lines of business and marketing products and services are based on the results transferred from academia and industry.
• Have a high economic potential and access to sources of funding to be encompassed in technologically advanced sectors and in many cases, pioneers.
• They keep a link with universities and research centers where they arise, whether in finance, facilities, advice, etc. Usually installed in science and technology parks of these bodies, in their early years are housed in incubators .
• They are flexible, based on innovation and capable of adapting to changes, and usually are released with a small size..

In addition, there are six requirements essential to take into account in the implementation of technology-based companies because they will determine the success or failure of a business project of this type:

• Mastering technology.
• Forming a strong development team.
• Have a good innovative product or service.
• Adequately protect competitive advantage.
• Enter the market with a solid business strategy.
• Innovative environment and networking.