Universities launching more start-ups

More companies are successfully ‘spinning out’ of UK universities, official figures show, as education institutions get better at identifying the commercial applications of innovation. But funding problems remain, writes James Hurley for The Telegraph.

Some 3,118 new businesses emerged from universities in 2011, up from 2,457 in the previous year, according to the latest HE Business and Community Interaction Survey. Firms that originated in UK universities now have a combined estimated turnover of around £2.5 billion (US$3.8 billion), up from £2.1 billion, and employ more than 30,000 staff.

There has been a particularly pronounced increase in graduate start-ups, the figures show, with 2,771 emerging last year compared with just 2,156 in 2010 and 2,079 in 2009. Venture capital firm MTI said the increase was welcome, but that the figures did not reflect any more money being available for university start-ups.
Full report on The Telegraph site