An exponential rise in the number of spin-outs and start-up companies from the University of Nottingham has underlined its vital role in driving innovation and economic growth, newly released figures reveal.
The number of spin-out companies launched by the university has grown rapidly in the last ten years, compared to the previous decade, positioning Nottingham as a fertile breeding ground for invention and entrepreneurship.
Between 2005 and 2015, eight spin-outs were launched, and in the decade that followed, 2015-25, this figure more than tripled, with 29 companies being added to the portfolio. This substantial increase in spin-out formation is evidence of a thriving eco-system for local growth and prosperity.
Figures from Higher Education Statistics Agency (HESA) reveal that in addition to its spin-out companies, the university has a current portfolio of 36 staff start-ups, 135 student start-ups and seven social enterprises.
Nottingham is also second in the UK for the turnover of its student start-ups, with its student ventures bringing in more than £400 million for the year 2022/23. The news coincides with a national campaign by Universities UK which shines a spotlight on the billions of pounds worth of local growth and investment resulting from higher-education support. Its campaign, Unis Start Up the UK, highlights how universities drive entrepreneurship across the nation, supporting new enterprises that boost growth, investment, and jobs.
Nationally since 2015, universities have helped create 38,750 companies, with a 70% rise in active firms. Student start-up turnover grew by 757%, investment by 346%, and employment by 177%, reaching 64,384 jobs in 2022-23.
Professor Tom Rodden, Pro-Vice-Chancellor for Research and Knowledge Exchange at the University of Nottingham, said: “We are supporting UUK’s Unis Start Up the UK campaign because it’s vitally important that the role of universities in supporting regional growth, providing a rich talent pool and supporting inward investment and job creation is recognised.
“Through our expertise and know-how, combined with the world-class research that is synonymous with the University of Nottingham, we have established an eco-system that supports new start-ups and spin outs. Whatever the route to market, and be it led by students and staff or our commercial team, our entrepreneurial spirit and the drive to translate our research and innovation into tangible benefits for society are at the heart of everything we do.”
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