SetSquared, the incubator for Bath, Bristol, Surrey, Southampton, and Exeter universities, has been named the top university business incubator in Europe for the third consecutive year.

SetSquared, which has helped build 1,000 startups which have collectively raised £1bn ($1.53bn) in external funding, received confirmation of the ranking result at an event in Turin held by incubator ranking firm UBI Global.

Simon Bond, innovation director at SetSquared, said: “We’re absolutely over the moon to be recognised alongside other top performing incubators by the UBI Index once again. It’s a real testament to the hard work, innovation and skill of everyone at SETsquared and our commitment to helping entrepreneurs and start-ups. SETsquared has progressed hugely since last year’s ranking, including opening a new hi-tech hub in Basingstoke, running innovation programmes for the NHS and UK Space Agency and winning awards for the work we have been doing with our members, so it goes to show just how vital our services are in each area we operate in.”

UBI’s full global rankings will be released in late November.