The innovation process is becoming more open. According to the concept of the Triple Helix, this requires the creation of institutions capable of mediating the interaction of agents, primarily related to the different elements of the innovation system. The academic spin-off is not only a form of technology transfer, set up at the university but also the institution that provides the interaction of scientists and entrepreneurs. This article gives an analysis of the implementation of the program of creating academic spin-offs in Russia. The main focus of the study is to analyze the affiliation of university spin-off with other companies, including personal links of founders. Research reveals that linkages are substantially personal: University staff member at the same time could be an entrepreneur. This finding allows not only clarifying the concept of the Triple Helix but also increasing the effectiveness of innovation policy, focusing on employees who can combine science and entrepreneurship.