Russell Group responds to Government's spin-out review

21 November 2023

Responding to the spin-out review Dr Tim Bradshaw, Chief Executive of the Russell Group said: 

“We're pleased this review highlights the enormous value spin-outs have added to the UK economy and demonstrates the vital role universities play in commercialising research and enabling new enterprises across a range of industries to flourish. These businesses simply would not exist without the resource, skills, and investment of our world-leading universities as well as support from the investor community and Government.

“In turn, university spin outs have created thousands of high value jobs right across the country, and we are eager to do even more.

“We look forward to working closely with the Government and investors to build on the momentum from this review to ensure we can not only sustain but hopefully grow the already thriving UK spin-out eco-system.”

Read the full review on the Government website.

Notes to Editors: 

Facts & figures on UK spin-outs

• UK universities are world-leading in spinning out companies and commercialising research, and it’s a growing market, supporting economies across all four nations.
  • In 2021 UK spin-outs attracted £2.5bn in equity investment, up from £1.5bn in 2020 and a five-fold increase on investment in 2012 to £5.3 billion
  • By working with businesses of all sizes, as well as public and local partners, Russell Group universities have helped to draw in vital external investment and create vibrant new communities accompanied by new infrastructure, homes, and high-value jobs.
• As research-intensive institutions Russell Group universities are particularly adept at creating successful spin-out companies.
  • University spin-outs also have a strong track record of staying the course: 1,379 firms originating from Russell Group universities had been active for three years or more in 2020/21.
  • University spin-outs alone provided nearly 41,000 FTE jobs in 2020/21, of which nearly 33,000 were from Russell Group universities.

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