The latest data from the UK Higher Education Statistics Agency shows an increase in the number of active spinouts and an approximate 44% jump in turnover for those companies.
The Higher Education Statistics Agency, a UK-based company that collects data form UK university and higher education (HE) colleges, has released its latest HE Business and Community Interaction Survey.
The survey looks into how HE providers are embedded into the UK economy and community. To do this, it collects data on the number of spinouts created, firms that are still active, current employment types and figures, investment and income.
Comparing the latest data from 2014-15 with the previous year shows that the number of new graduate spinouts created has dropped from 4,581 to 4,160. However, the number of active graduate spinouts has increased from 9,913 to 10,956.
Spinouts created by staff members remained approximately the same with 69 in 2013-14 and 70 in 2014-15.
In terms of turnover, the active spinouts created by graduates and staff saw an increase of approximately 44% rising from £558m ($792m) to £802.5m ($1.1bn).
The data covers all publicly funded higher education institutions in the UK. It also includes Buckingham University which is a privately funded institution. In total, 164 institutions provided data with 133 being in England, 8 in Wales, 18 in Scotland and 4 in Northern Ireland.
The data can be viewed and downloaded from the Higher Education Statistics Agency website.
