An ambitious £300 million investment fund has been launched to support university spinouts in the South of England and Wales. This initiative promises to propel science and technology enterprises into the forefront of innovation.
The collaboration between SETsquared, a renowned university partnership, and the investment firm QantX marks a significant milestone in the realm of innovation support. This effort consolidates the strengths of the universities of Bath, Bristol, Cardiff, Exeter, Southampton, and Surrey with private backing to nurture emerging science and technology firms. The aim is to tackle global challenges through strategic investments.
Sir Richard Olver, chair of QantX, announced the details at Bristol City Hall, underscoring the impact on future generations of technologists and entrepreneurs.
The presence of global business leaders, like former Google boss Eric Schmidt and Goldman Sachs CEO David Solomon, at related events underscores the international attention on the UK’s investment potential.
The initiative is timely, preceding major government-hosted events aiming to open avenues for broader economic growth in the UK.
The involvement of local and regional stakeholders ensures that the impact of the fund resonates with the needs of diverse communities.
Lord Vallance’s remarks highlight the importance of collaborations between investors and innovators in bolstering the economy.
Lord Vallance remarked, “Partnerships like this are vital if we are to grow the economy and improve lives,” in relation to the substantial impact anticipated from this fund.
This £300 million investment fund signifies a transformative approach to fostering innovation within science and technology sectors in the UK. By combining academic excellence with private sector expertise, the initiative stands poised to deliver meaningful economic and societal benefits.
