A University spin-off is a business founded by researchers to enhance the results of their own research activity and scientific knowledge, in which Superior University may be a partner. Researchers, as partners, share the profits. From the legal viewpoint, a spin-off is no different from an ordinary business enterprise.
ORIC Superior, under the direction of Prof. Dr. Sumaira Rehman Rector Superior University, has planned to commercialize research and other knowledge-based products of the university within the ambit of its Innovation and Commercialization (I&C) desk. The wing serves as Technology Transfer Office (TTO) and an Enterprise Office for commercial ventures while adhering to the scope of activities defined by the HEC. In order to undertake the aforementioned functions, the expertise and existing resources of ORIC will be supplemented with university / group-wide resource entities comprising ID92, Scaleup Pk, and CFO Office. Multidisciplinary Research and Commercialization Wing (MDRCW) of I&C, ORIC will also be actively working for the support of spinoffs while collaborating with FBMS and FEC.
A University spin-off is a business founded by researchers to enhance the results of their own research activity and scientific knowledge, in which Superior University may be a partner. Researchers, as partners, share the profits. From a legal viewpoint, a spin-off is no different from an ordinary business enterprise. The particularity of spin-offs lies in the fact that they are promoted, created and developed by one or more people who have a close relationship with the research world and use the know-how developed within research organizations in their business activity.
ORIC Superior, under the direction of Prof. Dr. Sumaira Rehman Rector Superior University, has planned to commercialize research and other knowledge-based products of the university within the ambit of its Innovation and Commercialization (I&C) desk. The wing serves as Technology Transfer Office (TTO) and an Enterprise Office for commercial ventures while adhering to the scope of activities defined by the HEC. In order to undertake the aforementioned functions, the expertise and existing resources of ORIC will be supplemented with university/group-wide resource entities comprising ID92, Scaleup Pk, and CFO Office. Multidisciplinary Research and Commercialization Wing (MDRCW) of I&C, ORIC will also be actively working for the support of spinoffs while collaborating with FBMS and FEC.
This brief succinctly describes the modalities of spinoffs for consideration of the Rector and other stakeholders covering the a) legal, b) financial, c) organizational and operational, d) HR and other resource needs, and e) monitoring and evaluation aspects along with their respective features/characteristics and remarks for consideration of the leadership.
Sr. No. | Legal Entity | Features | Remarks |
1.       | Company registered under The Companies Act 2017 | Registered with the Securities Exchange Commission of Pakistan (SECP) Cumbersome requirements of documentation for strict regulatory procedures Number of directors/shareholders are determined and any change has to be done with information submission to SECP Legal ownership and financial gains from the company business can be kept separate owing to fulfillment of procedural requirements i.e. legal owners may be different persons and profit distribution can be done otherwise as well under internal procedures | The company thus formed is ideal with respect to transparency and independent standing as a business entity It further suits Superior University due to the possibility of assigning shares of different entities |
2.       | Firm under the Partnership Act 1932 | Registered with Registrar of firms and falls in the provincial domain The contract between the partners of the firm determines the mode/nature of the relationship between partners including the share of the partnership Cost of the fulfillment of regulatory requirements i.e. registration, bookkeeping etc. are significantly low as compared to a company registered with SECP Terms for the expulsion of a partner can be defined in the contract constituting the partnership agreement Partnership can be time-bound and dissolution of the firm is relatively simple as compared to the one prescribed under the Companies Act 2017 | Short-term and trial basis experiments of a spinoff may be done under this legal arrangement whereby the success of the business/firm may be translated into company formation under the Contract Act 2017 |
Areas of Operation | Role Clarity |
Day to day operations | Technical/Creative Charge – Relevant Spin-off proposer Production of goods/services – Spin off proposer Management/Financial Charge University-nominated officials |
Permanent resources | University |
Marketing and delivery of service | University nominated officials |
Audit | University nominated firm |
Franchise opening/further of business | ORIC to furnish an initial report with inputs from other entities/experts from within the university External resource(s) may be engaged with proper approval University nominated officials |
Mobilization of funds and investment | University nominated officials |
Purchase of soft/hard materials and store keeping | Responsible person from the spinoff University nominated officials as per predefined procedure |
Support office on behalf of the University | Office of Research, Innovation and Commercialization (ORIC) |
Spin-off ambit | All products declared in the spin-off proposals; and further products developed thereafter |
Transfer of Technical/ Creative Charge | Mutual consensus of · the spin-off proposer · University |
Closure of Spin-off | Mutual consensus of · the spin-off proposer · University As defined by the legal framework governing the existence of spinof |
Arbitrator | As defined in the legal registration document |
Sr. No. | Human Resource | No. | Full-time / Part-time | Resource Status |
1.       | Managing Partner | 1 | Part-time | NA |
2.       | Business Development Manager | 1 | Full-time | NA |
3.       | Operations Manager | 1 | Full-time | Available |
4.       | Technical Person 1 | 1 | Full-time | Available |
5.       | Technical Person 2 | 1 | Full-time | Available |
6.       | Other Staff | 3 | Full-time | Available |
7.       | Office Assistant | 1 | Full-time | Available |
Total Staff | 9 | Â | Â |
Sr. No. | Head | Unit | Unit Cost | Remarks |
1.       | Equipment / Machinery |  |  | Available at Univ |
2.       | Office furniture/fixtures |  |  | Available at Univ |
3.       | E-design and Printed Marketing material |  |  | TBD |
4.       | Spinoff’s website |  |  | TBD |
* The aforementioned categorization and details of resources is merely indicative and
will vary in accordance with the need to be identified by the proposer and the same
will be verified by ORIC
The M&E of proposed spinoff will be carried out on the basis of following indicators:
| Sr. No. | Indicator | Sub-indicator | Responsible | Timeline |
| 1.       | Spinoff creation | 1.1 Documentation for approved legal entity | CFO (Support by ORIC) | Jan-23 |
| Â | Â | 1.2 Filing and follow-up for registration | CFO | Jan-23 |
| Â | Â | 1.3 Account opening | CFO | Jan-23 |
| Â | Â | 1.4 Business plan development | FBMS | Feb-23 |
| 2.       | Functional Preparedness | 2.1 Availability of human and other resources | University | Jan-23 |
| Â | Â | 2.2 Mechanism for business development defined | Proposer | Jan-23 |
| Â | Â | 2.3 Availability of marketing material | Proposer | Feb-23 |
| Â | Â | 2.4 Functional website and social media pages | ORIC | Feb-23 |
| 3.       | Operations | 3.1 Business development measures undertaken and result | Proposer | Monthly |
| Â | Â | 3.2 Book keeping | Proposer | Monthly |
| Â | Â | 3.3 Progress on project(s) and against defined targets in the business plan | Proposer | Monthly |
| 4.       | Evaluation Report | 4.1 Bi-annual evaluation report | ORIC | Bi-annual |
The proposed modalities are well covered under the IP and Commercialization Policy of the university. Proposer(s) along with university staff giving time and sharing expertise from the platform of spinoff will be formally recognized through the Performance Management System (PMS) by the HR Superior.
Following are the proposed aspects of financial modalities of spinoff by Superior University:
Manager Innovation and Commercialization, ORIC
Assistant Manager Innovation & Commercialization, ORIC
IP Lawyer, ORIC
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