Swansea University has held its position among the leading academic institutions in the UK for generating spinout companies, according to a new report by data analyst firm Beauhurst.
The third annual Spotlight on Spinouts report, sponsored by the Royal Academy of Engineering, highlights Swansea’s notable achievement in creating 48 spinouts since 2011. This success positions Swansea University among the leading 10 universities in the UK, while also securing the top spot in Wales.
Spotlight on Spinouts 2023 showcases the state of the UK’s spinout economy. Sponsored by the Royal Academy of Engineering and prepared by Beauhurst, the report offers a comprehensive analysis of the spinout landscape across the UK.
The report analyses which universities are successfully generating spinouts, their geographic spread and intellectual property (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.
In the UK, academic institutions are at the forefront of creating cutting-edge research and intellectual property, and spinouts are one of the main ways of commercialising that IP. The UK government has recognised the importance of spinouts to the UK— as contributors to the economy and as a strategic source of new technologies. In March, the government launched a review into university spinouts to determine the most effective means of commercialising research.
The 48 spinouts that Swansea has produced since 2011 have been able to raise a significant amount of capital, amounting to £27.4m via 46 different funding rounds.
Professor Helen Griffiths, Pro-Vice-Chancellor, Research and Innovation, said: "Swansea University's remarkable track record of generating spinout companies is a testament to our entrepreneurial spirit and commitment to driving economic growth. Swansea has firmly established itself as a frontrunner among the UK's top academic institutions, cementing its place as a hub for entrepreneurship and cutting-edge research. This accomplishment not only underscores Swansea's dedication to fostering innovation but also demonstrates the University's pivotal role in shaping the economic landscape of Wales."