SETsquared, a joint university commercialisation partnership between the UK institutions of Bath, Exeter, Bristol, Southampton, and Surrey, has announced that it raised £30m ($45m) in investment for its university spin-out businesses over the past 12 months.
The funding comes from a range of sources, including angel investors, venture firms, and government grants, and is used to support the growth of new opportunities developed at the organisation’s five incubation centres, based in the UK.
Graham Harrison, partnership director at SETsquared, said the figures are “proof that there are opportunities for growth and investment in the UK, despite the widespread pessimism about access to finance. Businesses within our incubation centres, including university spin outs and start-up technology firms, have proven that the opportunities are there for the taking.”
SETsquared is currently incubating over 250 start-ups over its five centres, and maintains a 90% survival rate for its companies over a three year period.
Graham added: “It goes to show the vital part business incubators like ourselves have to play in the recovery of the UK economy. Not only are we nurturing the kind of dynamic and innovative technology companies that will spearhead growth, but we are equipping them with the access to investment and survival rates that they need to flourish.”