Universities join forces in bid to boost spin-outs

Scotland’s universities are joining forces to increase the number of spin-out companies they launch and the amount of their research being licensed out to industry. Aberdeen, Edinburgh and Strathclyde universities have submitted plans to the Scottish Funding Council for a ‘modular’ system that could be used by institutions to boost business formation rates, writes Peter Ranscombe for The Scotsman.

The eight modules will cover topics such as business planning, finance and mentoring. Some universities will be able to deliver all of the modules using their own staff and resources but smaller bodies will be able to access help from Aberdeen, Edinburgh or Strathclyde, including their networks of mentors.

News of the tie-up comes as a report by Biggar Economics reveals that companies spun out from Edinburgh University and the licensing of the institute’s technology add £140.8 million (US$224 million) a year to the Scottish economy, up from £94.7m in 2008, when the previous study was published. The number of jobs created by the start-up companies also rose to 2,400 in 2011, compared with 1,900 in 2008.
Full report on The Scotsman site