The initiative was announced by Sir Richard Olver, Chair of QantX, at Bristol City Hall on 11 October at the Regional Investment and Health & Life Sciences Summit, which Science Minister Lord Patrick Vallance and MP Darren Jones also attended.
This new investment vehicle will drive a much needed step change in early-stage patient capital, expertise, and support available to University spin-outs and start-up companies in the region that are working in areas of true global impact – such as sustainability, clean energy, and transformative healthcare.
Combined, the SETsquared Partnership of six universities – Bath, Bristol, Cardiff, Exeter, Southampton, and Surrey – has a research portfolio of over £600m and has produced over 230 spin-out companies through collaboration across vibrant regional innovation ecosystems. Despite this success, the potential impact of R&D to power regional growth and productivity is being held back due to significant imbalances in equity funding across the UK. Startups in the region raise, on average, five times less at early stages than in the Golden Triangle.