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SETsquared Universities aim to raise £50m Angel Investment in response to the Chancellors moves to support new businesses

SETsquared Universities aim to raise £50m Angel Investment in response to the Chancellors moves to support new businesses

The SETsquared Partnership greatly welcomes the Chancellors budget statements in support of new, entrepreneurial businesses and University Spin out companies.

The difficulties for new companies in overcoming the “valley of death” caused by difficulties in finding early stage  funding is well known and has often been cited as a major factor limiting the number of UK start-ups. The SETsquared Partnership Universities all have first rate business incubation centres and have worked hard to develop local business angel networks to help finance new companies.  The Chancellor’s move to  increase tax relief on investments into small companies as well as improved R&D tax credits will be a significant  boost  to start ups and a major factor helping to accelerate the positive progress already being made.

The Chairman of the SETsquared Management Team, Keith Robson, said “The Partnership aims to raise at least £50m of angel funding to support new business over the next five years, and the Chancellors announcement of extra tax reliefs this year will be a huge help in achieving this target”

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SETsquared is a partnership between

  • University of Bath
  • University of Bristol
  • University of Exeter
  • University of Southampton
  • University of Surrey