The report provides a valuable insight into the number of Higher Education Institution (HEI) ‘spin off’ and ‘start-up’ businesses across the UK over 2007-08.
Now in its eighth year the HEBCIS is an essential source of information on knowledge exchange in the UK. Knowledge exchange takes place between HEI’s and the wider world of business and the community.
In instances where a HEIs research produces products or services that have a high chance of creating wealth a decision may be taken to form a ‘spin-off’ company. The total number of ‘spin off’ companies formed in the UK in 2007-08 was 219.
Of the 219 companies formed in the UK, 167 were owned by HEI’s with a further 52 not owned by HEI’s. Regionally the highest number of ‘spin-off’s’ were created in London with 35 HEI owned companies and 6 non HEI owned companies being formed in 2007-08.
It is apparent that both staff and students of HEI’s are becoming more entrepreneurial by creating businesses. The survey reports that the total number of HEI staff start-ups in the UK in 2007-08 was 41. This figure is lower than in the period 2006-07 where it was reported that 62 such businesses were started. This decline could be explained by the difficulty in capturing the figures. The highest number of staff start-ups in the English regions was seen in the South West.
Focusing on graduate start-ups, the total figure for the UK in 2007-08 was 1,977 businesses. The highest proportions of these businesses were started in London (440) with the East Midlands following behind with a total of 273 businesses. Unlike staff start-ups, graduate start-ups have seen an increase on 2006-07 figures where it was reported that a total of 1,508 businesses were started in the UK.
The Higher Education – Business and Community Interaction Survey 2007-08 and associated annexes are available to download from www.hefce.ac.uk/pubs/hefce/2009/09_23