Bristol has been named as one of the "hot spots" for university spinouts.
The Royal Academy of Engineering Enterprise Hub has revealed that Manchester and Bristol showed the highest growth in spinout populations, outside of the "golden triangle" of London, Oxford and Cambridge. Edinburgh meanwhile continues to attract the most spinouts from across the UK.
In its latest "Spotlight on spinouts 2023" the academy found that according to Beauhurst data, a total of 58 spinouts are now hosted in Manchester and 47 in the City of Bristol, rising from 52 and 42 respectively.
Elsewhere, the report recorded that spinouts attracted a total equity investment of £2.13bn in 2022, slightly lower than in 2021. CleanTech and Genomics were increasingly the dominant spinout sectors in the UK.
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Minister for Science at the new Department for Science, Innovation and Technology George Freeman MP said: “This report shows that with the right backing, we can make a success of spinning out businesses in every part of the country. That’s why we are committed to increasing public expenditure on R&D to £20bn per annum by 2024/2025, and we are delivering our £280m Higher Education Innovation Fund to support spin outs.
“As this report helpfully highlights - we are determined to unlock new sources of investment to accelerate this important sector even more in the coming years.”
The data compiled in Spotlight on spinouts, analyses which universities are successfully generating spinouts, their geographic spread and IP policies, as well as the top spinout sectors, investors and investees, survival rates and growth trajectories, Innovate UK grants, and spinout leadership composition including gender, age, and nationality.
Maria Dramalioti-Taylor, founding partner at Beacon Capital LLP, Royal Academy of Engineering Enterprise Committee Member, and member of the project steering group, said: "The Spotlight on spinouts sheds light on critical trends that spinout founders, investors and policymakers must take into account. The remarkable growth of university spinouts outside the 'golden triangle,' exemplified by Manchester, Bristol, and Edinburgh, presents a compelling case for nurturing innovation hubs across the country.
"The report also highlights two encouraging developments: the substantial increase in spinouts founded by women that showcases the expanding inclusivity within the entrepreneurship landscape, and the decrease in universities' average stake that signals a shift towards more balanced partnerships that empower spinout founders. By championing gender diversity and fostering equitable collaborations, we can foster a thriving ecosystem that supports the growth of university spinouts, unlocks their potential, and propels the UK's innovation-driven economy forward."
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