This report is the result of a cooperation between EIM, Erasmus University and Indiana University. The study has largely been executed by students of the assocation 'Le Manageur' under supervision of the above institutions. The study evaluates university spin-offs in the transfer of  technology from universities into society and provides a comparative case study of spin-off  stimulation. The study concludes that governments that would like to tackle problems in knowledge transfer between firms and public institutions should encourage knowledge institutions to adopt a more proactive stance towards commercialization and cooperation. Stimulating an entrepreneurial spirit and knowledge spin-offs in public research and educational institutions can help overcome many of the problems in knowledge transfer. This research shows that spin-offs are a good supplement to existing transfer mechanisms such as licensing and contract research. University spin-offs are a good way to transfer radical and incremental technologies to society. This form of technology transfer does require a strong supporting infrastructure and sufficient entrepreneurial human capital.