Current state of branding in academic spin-off and start-up companies: the case of public universities in Colombia
Estado actual del branding en las compañías spin-off y start-up académicas: caso universidades públicas en Colombia
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The aim of this research is to describe the current state of branding processes that affect academic spin-off and start-up companies in Colombia. The findings are based on the case study of three academic spin-off companies and three academic start-up companies from three public universities in Colombia. The data is compiled from semi-structured interviews with the companies’ founders and is analyzed using the qualitative content analysis methodology. Bresciani & Eppler’s (2010) model of analysis of branding for SMEs was used. The results show the importance of branding activities for the companies studied. New factors were identified as being relevant and specific to the process of branding in academic spin-offs and start-ups: the absence of marketing departments, publicity as the principal means of affecting the brand, the figure of the entrepreneur as “live representation” of the brand, recruitment processes and the importance of backing from the university brand. It was found that the factors that have not driven or allowed branding activities in these companies are the lack of financial resources, the lack of knowledge in this field or the undervaluing of branding. Finally, the cyclical process of branding of this type of companies is described.
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