Charles University in Prague is one of the oldest universities in the world while still being renowned as a prestigious institution of higher education. According to their website, one of the University’s main goals is to augment its status as a research university.  One of the ways they are working towards this is by investing in a technology transfer company, owned completely by the University, called Charles University Innovation Prague (CUIP). 
This new innovation hub has been formed to support academic spin-offs from the University, in turn with the intention to create a more fluid relationship between the research developed by scientists in laboratories and the commercial partners and general public.  The initial investment is around $135,000 (Czech Kr. 3million) with an annual subsidy somewhere between $135,000 and $180,000 over the next five years. 
Up until this point, Charles University is the first in the Czech Republic to create a completely independent subsidiary fund with the intention of promoting academic research to commercial production . This investment is being made with the hope of continuing to increase the economic benefits that come from technology transfer. In 2017, Charles University saw a turnover of $1.7m, up from $480,000 in 2014.