University spinouts to grow industries of the future with new government backing

Public sector is being primed to bring innovative ideas out of government labs and onto the market with £30 million backing and new guidance.

4 innovative UK hubs across Merseyside, East Anglia, the Midlands, and Northeast England will today (Friday 9 May) get fresh backing to grow more ‘spinouts’,  innovative new businesses created from within research institutions. 

In turn creating new jobs, developing the industries of tomorrow and driving economic growth through the Plan for Change.

UK innovators have made great strides in getting bright ideas onto the market and in front of investors, but red tape, talent shortages and a lack of access to funding is holding back innovators from turning their ideas into viable growing businesses.  

New £30 million funding will support a taskforce of world-leading universities and industry experts across the 4 locations to take advantage of this huge, and all-too-often untapped, opportunity.  

It will support efforts to incubate and spin out new companies and create the most fertile and attractive environment for the brightest thinkers and entrepreneurs.