Razões para a não sobrevivência de spin-offs acadêmicas: um estudo de caso de três empresas da UFMG

This paper aims to analyze the difficulties faced by academic spin-offs (SOAs) in their creation and development. To this end, a case study was carried out with SOAs from UFMG that have ceased their activities. The interviews conducted indicated that the main obstacles faced in setting up and consolidating the companies are similar to those reported in the literature, such as the need for funding, the importance of managerial knowledge (and not just technical knowledge), adapting to regulatory issues, and the founding professor's difficulty in reconciling his activities in the company with his academic obligations. University skills - such as support from the TTO Office in intellectual property and technology transfer activities, courses and business incubation - were highlighted as relevant to the entrepreneurial process. However, for all three companies, discontinuity or a reduction in demand for technology were determining factors for the closure or non-growth of the companies, showing that the growth and sustainability of SOAs go beyond institutional university initiatives or policies to promote ST&I.