For SME CEOs & boards
Your innovation deserves a dedicated venture path.
Spinova works with SMEs holding stranded IP, deprioritised R&D or non-core assets — and turns them into promising, capital-efficient, externally-funded ventures with parent's rights preserved.
Why now
R&D budgets are tightening. Options are being frozen.
- Industrial groups are actively divesting non-core businesses and rationalising portfolios.
- R&D intensity is being reduced — from typical 20%+ down toward < 10% — putting long-horizon programmes at risk.
- Without an external vehicle, valuable options freeze on the shelf and lose their opportunity window.
The timing is ideal to test a new model that optimises the value of your selected assets.
Testimonial
We had a strong technology, but inside the company we could not find the right model to scale it beyond experimentation.
By applying Lean Startup principles and creating a dedicated spin-off structure, we moved from exploration to real market execution.
The speedboat approach gave the team the autonomy, focus, and agility that our core organization could not provide.
In less than two years, the venture opened access to entirely new markets that our SME would never have targeted directly.
Building an ad hoc entrepreneurial team around the technology transformed an internal innovation into a standalone growth business.
Benefits to the parent company
Develop the asset now. Protect the core business. Keep the upside.
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Lower funding burden
The innovation can keep progressing without requiring the parent company to carry the full development roadmap internally.
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No balance-sheet drag
External capital and a dedicated NewCo structure fund execution outside the parent company's balance sheet.
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Faster execution path
A focused venture team can move faster than internal budget cycles, governance layers, and competing operational priorities.
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Upside preserved
The parent keeps strategic access through structured rights such as licensing, preferred partnership, right of first refusal, or a pre-agreed call option.
Risk controls & rights
Five controls that keep the parent company protected and in command.
01
Governance control
Board seat and reserved-matters veto on critical decisions: IP scope, cap table, fundraising, asset sale, CEO change, and material spend.
02
Ring-fenced liability
NewCo liability only. No parent guarantees. Limited brand coupling. Operational and funding risks stay outside the core company.
03
Strategic rights
Right of first refusal on third-party sale of shares, assets, or IP, combined with a pre-agreed call option mechanism.
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Downside protection
If the venture fails, key rights can revert to the parent under pre-agreed conditions.
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Kill switch
Go / No-Go gates at W6, M3, and M9, with automatic budget stop if the investment thesis breaks.
Frequently asked
Questions boards ask us first.
Do we lose control of the asset?+
No. The parent retains a board seat with reserved-matters veto, an exclusive license that reverts on failure, ROFR on any third-party sale, and a pre-agreed call option to buy the venture back.
What if the venture fails?+
The kill-switch triggers an automatic budget stop. IP and data revert to the parent under the license terms. There is no parent guarantee, so liability stays inside the SPV.
Why use Spinova instead of building internally?+
Internal governance and conflicting BU priorities are exactly what kills these projects. A ring-fenced vehicle with dedicated leadership and external capital removes the drag and aligns incentives to milestones.
How long is the commitment?+
The pilot is a capped 6-week scan. The decision to proceed sits at the W6 gate — and at every subsequent gate (M3, M9). You can stop cleanly at any point.
Who funds the venture?+
External capital — a mix of co-investors, public funds (notably Grand Est ecosystem), and milestone-based instruments. The parent contributes the asset, not cash.