Great attention has been given in recent years to the means of evaluating university spin-offs and their impact on the social and economic context. Nevertheless, in literature, there is not an approach that takes into account the different elements linked both to the value of the organization and to the effects that technology and innovation have on the context. The study starting from the analysis of the different methods of evaluation of university spin-offs and the immaterial value of the spin-off proposes an approach that brings together the different elements. The case study of the University of Turin (Italy) highlights the components and characteristics that must be analyzed and which confirm what has already been highlighted by the reference theory. The study offers an integrated approach that can be adopted in other Italian and foreign universities, and that accentuates the attention on the gaps that should be explored in future studies.