Fact Sheet

SETsquared Fact sheet

Five leading UK research universities (7,400 academics, 10% of UK’s higher education research budget, 11% of all UK university patents) partnering in enterprise.

The SETsquared Partnership:

• Supports high tech, high growth potential start-ups – 650 companies supported in the last five years who have raised nearly £0.75bn
• Provide training and support for our 90,000 students to become entrepreneurial
• Develop the commercial potential of our £480m a year research spend
• Develop industrial collaboration to delivery economic growth from the knowledge base of the Universities

Management Group

The Management Group comprises the five Directors responsible for enterprise (encompassing knowledge transfer and the exploitation of research) at each institution, currently:-

• Keith Robson, Director of Research and Enterprise Support, University of Surrey – Chairman;
• Ronald Humphreys, Director, Bath Ventures, University of Bath;
• Neil Bradshaw, Director of Enterprise, University of Bristol;
• Sean Fielding, Director of Research and Knowledge Transfer, University of Exeter;
• Don Spalinger, Director of Research and Innovation Services, University of Southampton.

The Management Group is responsible for the day-to-day activity of the SETsquared Partnership and for integrating activity at each institution.

Executive Board

The Executive Board comprises individuals with oversight of enterprise, innovation and knowledge transfer activities at the five institutions.

Current Board members are:-

• Professor Jane Millar, Pro Vice-Chancellor (Research), University of Bath;
• Professor Guy Orpen, Pro Vice-Chancellor (Research & Enterprise), University of Bristol
• Professor Nick Talbot, Deputy Vice-Chancellor, Research and Knowledge Transfer, University of Exeter
• Professor Philip Nelson, Deputy Vice-Chancellor (Research & Enterprise), University of Southampton;
• Professor Stephen Williamson, Deputy Vice-Chancellor, Research & Innovation, University of Surrey.

Business Creation & Technology Transfer

Technology Transfer professionals at each university have fostered close working relationships with academics, bridging the gap between complex academic research, its commercial application and business creation.

This has led to:-

• 37 spinouts in last four years;
• 6 IPO’s in last five years in excess of £250m in value;
• Over £450m of capital raised.
• £30m of captive seed funding awarded.

Business Acceleration Centres

SETsquared operates five centres, based on or near each university campus, which provide space and support for early-stage, high-growth potential technology ventures, which have originated both from within and outside the universities. In the last 5 years, 650 companies have been supported and 88% of SETsquared incubated ventures are still in business three years on.

• Each centre offers entrepreneurs access to industry specialists, investors, business mentors and guidance from centre-based experts and business review panels together with physical office space.
• Together these centres currently support over 250 companies;
• Over the last five years £0.75bn of investment funding has been raised and more than 1000 jobs have been created.

Investment Showcase

The eighth annual Investment Showcase for SETsquared Partnership companies is taking place on 12th October in London It attracts a high quality audience of over 150 investors including venture capitalists, business angels, high net worth individuals and government funding bodies;

• The Showcase is supported by an intensive investor readiness programme;
• Over £100m of funding has been raised in the last 6 years by showcased companies along with significant customer orders.

Student Enterprise

SETsquared encourages students entrepreneurship and provides opportunities for student enterprise groups to share their ideas across the five Universities. Through an annual showcase the best student entrepreneurs can compete best start-ups and promote their businesses to a wide audience of investors, mentors and corporates.

The Partnership also sponsors Kauffman global scholars which offer is a six-month placement in the US with the Kauffman Institute.

“Changing Worlds”

The “Changing Worlds” event took place on Wednesday 13 October 2010. This event showed the depth and breadth of the impact achieved by research and enterprise from the SETsquared Universities. The event included presentations and exhibits of leading research and enterprises which has had the greatest impact on our everyday lives, the environment and the UK’s economy. The Universities & Science Minister attended as the keynote speaker.

International Market Access

Through relationships with the entrepreneur networks in San Diego and Boston, SETsquared accelerates the development of technology startups into US or UK markets:-

• Over 200 technology companies have been supported into international markets creating jobs and wealth for the UK;

Evolution of SETsquared

The development of the Partnership has been catalysed and funding through a range of government programmes:-

• 1999 – University Challenge Fund
Bid led by Bath to establish the Sulis Seedcorn fund with Bristol to invest in spinout companies. The Fund was extended in 2001 to bring Southampton into the Limited Partnership, raising the Fund to £9m (Surrey is part of the Cascade Seed Fund consortium);

• 2001 - Science Enterprise Challenge – 2nd round
Wessex Enterprise Centre bid with Southampton and Bath, led by Bristol. Value of bid: £2.85m;

• 2002 – Higher Education Innovation Fund - HEIF 1
£5m bid led by Southampton to establish SETsquared (incubation) with Bath, Bristol and Surrey;

• 2004 – HEIF 2
Successful collaborative bid secured £13m, integrating all HEIF activity under the SETsquared Partnership banner;

• 2006 – DTI Science Bridges programme
SETsquared Partnership awarded £1.5m for a programme to support applied research and US market access with Southern California;

• 2006 & 2008 - HEIF3 & HEIF4
Under the institutional HEIF 3 & 4 programmes, Partner Universities continue to support enterprise activities of the Partnership.

• 2011 – HEIF 5
Exeter joined the Partnership 1st March 2011. SETsquared collaborative activities continue to drive economic growth from the University knowledge base, developing entrepreneurial students and supporting technology start-up support.