University-led incubator network sees start-ups win £30m of funding in one year

SETsquared announces achievement at government-led business boosting event Innovate UK

University-led incubator network SETsquared has announced that its start-up members have secured £30m of investment in one year.

Run in collaboration with the universities of Bath, Bristol, Exeter, Southampton and Surrey, the network of five incubators currently provides mentoring support to over 250 ambitious start-ups.

Incubating both university spin-outs and innovative tech start-ups from the surrounding areas, SETsquared has provided support to businesses including Startups 100 winning crowdfunding platform Crowdcube and ethical bag producer Elephant Branded, which was named in our list of Top 20 Start-ups of 2012.

The programme, which provides start-ups with mentoring support, office space and networking opportunities with potential investors, announced the success of its incubated companies at Innovate UK.

Delivered in collaboration with UK Trade and Investment and the Technology Strategy Board from Monday to Wednesday this week, Innovate UK provided a three-day networking event for growing businesses.

Universities and science minister David Willetts commented on the success of SETsquared’s incubated companies: “It is great to see universities and businesses working together to secure additional private investment that will help to develop their innovative ideas.

“Many university spin out companies have really exciting futures and will play an important role in boosting the economy and keeping the UK at the front of the global race in technology and innovation.”

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