Spinout success for Cardiff
24 November 2020
Cardiff University has maintained third place in a UK league table of universities’ spinout success.
The ranking grades institutions for their ability to convert research into thriving high-value companies.
Only Queen’s University Belfast and Cambridge University surpassed Cardiff in the chart compiled by Octopus Ventures, one of Europe’s largest venture capital funds.
Spinning out Success: Entrepreneurial Impact Ranking 2020 measured UK universities’ effectiveness in terms of their generation of intellectual property, creation of spinout companies, and successful exits from spinouts relative to their total funding.
Cardiff University President and Vice-Chancellor, Professor Colin Riordan, said, “We are delighted to maintain our position in 2020. Cardiff has a proud tradition of commercialising research. The report notes our provision of access to internal seed funding for the development of proof-of-concept ideas and prototypes, and the benefit of networks and alliances like the SETSquared Partnership in helping to maximise opportunities.”
“Our investment in Cardiff Innovation Campus, currently under construction, aims to maintain our spinout success, helping world-leading experts bridge the gap between early stage research and commercial realisation.”
The Campus will be home to sbarc | spark , a state-of-the-art hub featuring commercial units, lab space for spinouts and start-ups and a visualisation centre. A Translational Research Hub next door will work with industry to develop tomorrow’s technologies. The Campus is due to open in 2022.
Dr David Bembo, Director of Research & Innovation Services at Cardiff University, said, “Retention of Cardiff’s top three ranking is due reward for our long-term commitment to research commercialisation. This is a hugely collaborative effort which succeeds through the inventive contribution of academic staff and founders, the commitment of technology transfer professionals and the critical, sage advice and capital provided by our external investors, experts and mentors.
“Our technologies continue to support the competitiveness of businesses and economic recovery in the Cardiff Capital Region, nationally and globally. We are not content to sit on our laurels and in 2020-21 HEFCW’s new Research Wales Innovation Fund provides welcome additional resources to support our spin-out pipeline and enterprise ecosystem.”
Cardiff University excels at turning research into innovation. Last year the University secured a record £150m in new research grants and contracts and more than £100m in total has been invested in Cardiff University/Fusion IP spinouts.