£16m Initiative to Retain University Spinouts in the East Midlands
A new £16 million scheme has been launched to support university spinouts in the East Midlands, aiming to keep innovative businesses rooted in the region. The initiative addresses the challenge of local start-ups relocating to areas with more attractive investment prospects, such as the 'Golden Triangle' of Oxford, Cambridge, and London. Research indicates that spinouts in the Midlands raise significantly less capital compared to those in these high-profile locations .(Loughborough Blog)
The funding will be directed towards enhancing infrastructure, providing access to early-stage investment, and fostering collaboration between universities and local businesses. This approach aims to create a sustainable ecosystem that nurtures innovation and retains talent within the region.
By strengthening the support network for university spinouts, the East Midlands seeks to position itself as a competitive hub for research and development, contributing to economic growth and job creation.
This initiative complements other regional efforts, such as the £250 million Midlands Mindforge investment vehicle, which focuses on accelerating the commercialisation of university spinouts in areas like clean technology, AI, and life sciences .(The Business Desk)
For job seekers and entrepreneurs in the East Midlands, this growing support for university spinouts presents new opportunities in emerging sectors.