Evaluación financiera de proyectos de emprendimiento derivados de resultados de investigación como paso para la creación de empresas de base tecnológica

Abstract

This paper seeks to understand the differences between a financial evaluation of a project and one of a research based entrepreneurship as a basis for the creation of technology-based companies. Conceptual foundations related to this kind of entrepreneurships are built, as an integral part of the development of a business model of a venture. From these concepts, and considering some differential conditions of technology-based enterprises, issues such as intellectual property valuation and the use of assessment methods involving financial flexibility and uncertainty variables are reviewed. Finally, a financial evaluation model for technology-based enterprises, developed by Sawyer (2009), is reviewed, while complemented with the use of tools such as checklists based on the accounts of the colombian Plan Único de Cuentas (PUC), used for projecting the staffing, income, costs, expenses, income statement, balance sheet and free cash flow models.