New university spin-out register launched
Jisc launched a first-of-its-kind register of UK university spin-out companies to provide information about spin-out firms created by UK universities.
It is a pioneering new tool that provides consolidated evidence of innovation and expertise in the higher education (HE) sector in the UK, shedding light on the contribution of universities to the UK’s economy and society, through their central role in the innovation system.
The spin-out register was developed by HESA (Higher Education Statistics Agency), part of Jisc, in collaboration with Research England (RE) and the Policy Evidence Unit for University Commercialisation and Innovation (UCI) at the University of Cambridge.
What does the register tell us?
The spin-out register is based on HESA’s HE-BCI (HE Business Community Interaction) part C data. The register contains data of spin-out companies founded from the 2012/13 academic year onwards, as well as older spin-outs that remain active in 2023/24.
There are some fascinating insights about the spin-outs. There are 2,269 unique spin-out companies reported in the register. The companies span a wide range of disciplines:
- Medicine
- Health and life science
- Physical sciences
- Engineering
- Mathematics
- Social sciences
- Arts and humanities
These areas correspond to Research Excellence Framework (REF) panels A to D.
The largest number of spin-outs during the census period were associated with physical sciences, engineering and mathematics disciplines, though some spin-outs may have founders associated with multiple disciplines.
The distribution of universities producing spin-outs is widespread. The top 15 spin-out-generating HE providers each produced at least 40 spin-outs during the census period, and represent all nations and many regions of the UK.
Long-term trends
We can also see what appears to be a long-term rising trend in the number of spin outs founded and incorporated.
The marked increase in 2020/21, possibly reflects an unexpected consequence of the Covid-19 pandemic. The founding of successful spin-outs depends on access to venture capital (VC) funding and university spin-outs appear to have been in a position to capitalise on the well-documented boom in VC markets during late 2020 and 2021.
The shift in working conditions and circumstances brought on by pandemic restrictions may also have accelerated the formation of spin-outs. Where staff experienced a reduction or cessation of other duties, this might have created conditions that helped some spin-outs emerge faster. These two factors, taken together, could explain the observed spin-out 'boom' in 2020/21.
Using the register
The interactive register has some useful features – you can search by HE provider or spin-out, and filter the spin-outs according to the country of HE provider (England, Wales, Northern Ireland, and Scotland) and regions in England, choose spin-outs associated with more than one provider, or identify those that were registered as a social enterprise.
The register also shows the year each spin-out was incorporated, as well as identifiers such as the company registration number. The dataset is public and individual data on the spin-outs, including identifiers, can be downloaded. This baseline data can be used for linking with other sources, enabling users to generate additional insights based on their needs and interests.
A small number of early-stage companies still operating in 'stealth mode' (maintaining confidentiality for commercial reasons) are excluded from the publicly available data.
Impact
We are really pleased that the spin-out register was celebrated by The Rt Hon Peter Kyle, Secretary of State for Science, Innovation and Technology, in his speech today at London Tech Week. He said:
"The spin-out register marks a step-change in the type and quality of information available on the UK’s spin-outs – which will inform better policy-making, and enable better support for these important companies."
The spin-out register is an excellent example of Jisc’s commitment to be the vital strategic partner of the HE sector, delivering value for the sector and the economy. It also showcases our collaboration and knowledge sharing with other bodies in the sector such as RE and UCI.
Through its HESA function, Jisc is uniquely positioned to carry out the highly technical work required to collect robust and reliable data from HE providers in the UK and publish wide-ranging insights into the sector.
We believe that the spin-out register will be valuable for the universities, government and policymakers, students, funding bodies, and other national and international agencies operating in this space.
Heidi Fraser-Krauss, CEO of Jisc, says:
"With its expertise in data, and UK-wide role, HESA is uniquely positioned to create a new data resource like the spin-out register. As the register builds from this baseline we'll learn even more about how universities collaborate, the impact of different disciplines, and which companies go on to the greatest success. This data will support national and local governments across the UK to understand the role that universities play as generators of innovation in the economy."
Future iterations
We plan to update the spin-out register annually and publish further insights based on the register in the future. We invite you to visit the spin-out register and welcome any feedback on this innovative tool.
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