The University of Manchester has shown the greatest growth among UK universities in the proportions of its spinout populations in the past two years.
According to The Royal Academy of Engineering’s annual report Spotlight on Spinouts 2023, this growth can be attributed to The University of Manchester’s rapid increase in the amount of IP-rich research it has helped to commercialise in recent years.
Instead of concentrating on universities with the greatest number of spinouts, the report highlights universities that have rapidly expanded their spinout populations by tracking activity since 2011.
It finds there have been a total of 84 companies spun out from The University of Manchester, including six exits: three have been acquired and three have had Initial Public Offerings (IPOs). Of the 84 companies, 39 have received equity investment since 2011 via 105 deals, raising a total of £478m.
This is the third edition of an annual report that showcases the state of the UK’s spinout economy. Compiled by Beauhurst, this report offers a comprehensive analysis of the UK spinout landscape.
Maria Dramalioti-Taylor, enterprise committee member at the Royal Academy of Engineering and founding partner at Beacon, says: “Spotlight on Spinouts 2023 is an essential read in the context of the UK government’s ambitions to become a ‘science superpower’ and the creation of the new Department for Science, Innovation and Technology.
“The government has recognised the key role that spinouts play in the economy, with the publication of the Science and Technology Framework committing to strengthening the spinout pipeline…The data presented in our annual report is a valuable part of the evidence needed to address these priorities.”
The University of Manchester’s research commercialisation is undertaken by The Innovation Factory, the University’s Technology Transfer Office (TTO).
Innovation Factory CEO Andrew Wilkinson says: “This independent report into university TTOs’ performance shows the great strides that the University of Manchester is making in commercialising IP-rich research that has real-world benefits to society in general and the north-west’s regional and UK’s national economies.”
