The above figures, released by the Higher Education Statistics Agency (HESA), clearly show that there’s been a huge spike in start-ups over the last ten years or so that have been supported by universities in the UK, with more and more higher education institutions creating business incubators to attract top level student talent.
Their data on the interaction between Higher Education institutions, businesses and their local communities how that:
However, in order for this trend to continue, Universities UK (UUK) has sounded a warning that these higher duction institutions will require sustainable funding.
Their analysis of the data predicts that if the current trend continues, 27,000 new start-ups could be founded over the next three years.
But… many of these firms are struggling to scale up past the start-up stage, with university leaders worried that firms established by themselves, in the local area, could end up moving to London, or even abroad, without more Governmental help, leaving the UK as an ‘incubator economy’ in which firms are started, thrive and then quickly get sold or moved overseas.
“Universities provide a foundation for economic growth through the knowledge exchange they conduct, and the graduates they educate. Few people know that they also work closely with businesses to help them grow too. Using their kit and equipment, and their expertise, they support start-ups, generate their own spin out companies, and work with businesses from the wider economy to provide practical assistance to help them grow.
Vivienne Stern MBE – Chief executive, Universities UK
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