Universities take major role in supporting UK’s economic recovery

A new report by the National Centre for Entrepreneurship in Education (NCEE) and Universities UK predicts that over the next five years universities will help launch 21,700 new companies and charities.

They will also provide more than £11.6 billion worth of support and services to small enterprises, businesses and notfor-profits.

The report reveals that universities in the South West will provide more than £472 million of support, while universities in the South East will provide nearly £2.4 billion of services. This includes specialist advice, access to the latest facilities and equipment to develop innovative products and conducting bespoke research projects.

Over the next five years, universities in the West Midlands will create more than 1,300 new companies and charities. In the South West the number is predicted to be more than 1,800, while in the South East the number is slightly lower, at more than 1,700. These include university spinoffs, social enterprises and graduate and staff start-ups.

Established by the government in 2004 to improve enterprise and entrepreneurship in higher education, NCEE is now run and funded by the sector.

Programmes include the Entrepreneurial Leaders programme, which has been running for more than 10 years, and supports education leaders to become more creative, innovative and agile.

Alistair Jarvis, Chief Executive of Universities UK said that universities must step up to the challenge of driving the UK’s recovery, including innovating to solve emerging challenges and collaborating to strengthen support for local communities.

Cancer therapy spin-out raises £3.5 million in seed funding

CytoSeek Ltd, a biotech company spun out of Bristol University which is developing the next generation of cell therapies to treat cancer, raised £3.57 million in March. The funding will support the development and licensing of CytoSeek’s artificial membranebinding protein platform.

CytoSeek's mission is to use its its technology to help treat solid tumours, along with other next generation cell therapies.

The company was founded in November 2017 to commercialise the technology developed by Professor Adam Perriman and his team at the University of Bristol.

The funding round was led by Science Creates Ventures, a new early-stage Bristol-based deep tech fund which invests in next generation technologies that can revolutionise healthcare, quality of life and the environment.

The fund was only launched last December and CytoSeek is its first investment.

Carolyn Porter, CytoSeek CEO said: “We are delighted to be Science Creates Ventures’s first investment and to be supported by a syndicate of experienced investors. This is a testament to the growth potential of the company’s technology and the strength of the team.

“We look forward to working with our new and existing investors to advance our mission of developing the next generation of cancer cell therapies.”