The number of spinouts created from Scottish universities still trading is on the rise again, according to the Herald Scotland.
Figures have shown an increase of nearly 20% when comparing the academic years of 2013-14 to 2014-15, boosting the number of total active spinouts from 425 to 504.
However, the actual number of new spinouts created in 2014-15 academic year dropped when compared to the previous twelve months, from 181 to 161.
While fewer companies were launched, the number of employees in spinouts increased from 829 to 1,285 in the country. This was mirrored in turnover which increased from £41m to £72m ($59m to $104m).
Jonathan Cooper, vice principal for knowledge exchange at Glasgow University, said: “It is well known that Scottish universities have been relatively successful in winning research funding and now we are beginning to see our success in academic research translate through into business.
“Although there is a small drop in numbers of graduate spinouts, a trend consistent with the rest of the UK, there has been a significant increase in the external investment that these student-led companies have raised.”
For further insight into Scotland’s spinout success, check out our interview with Andrea Young, fund manager of Old College Capital, and Grant Wheeler, head of company formation at Edinburgh Research and Innovation, here.
