SETsquared and QantX Launch £300 Million Investment Fund to Boost Science and Technology Spin-Outs in the South and South West

SETsquared and QantX Launch £300 Million Investment Fund to Boost Science and Technology Spin-Outs in the South and South West

(IN BRIEF) The SETsquared Partnership universities, including the University of Southampton, and QantX have launched a £300 million investment vehicle to accelerate the growth of science and technology companies. This initiative aims to address funding disparities in the region and drive economic growth by supporting spin-outs in sectors such as life sciences, sustainability, and deep technology. The partnership builds on SETsquared’s track record of supporting over 400 ventures annually and advancing innovation.

(PRESS RELEASE) SOUTHAMPTON, 11-Oct-2024 — /EuropaWire/ — The SETsquared Partnership universities, which include the University of Southampton, and investment firm QantX have unveiled a new £300 million investment vehicle designed to boost innovation and growth in science and technology. The initiative will support the creation and scaling of spin-out companies addressing global challenges in critical sectors such as life sciences, sustainability, and deep technology. The announcement was made by Sir Richard Olver, Chair of QantX, at the Regional Investment and Health & Life Sciences Summit held in Bristol on October 11, 2024, attended by key figures such as Science Minister Lord Patrick Vallance and MP Darren Jones.

The partnership between six prominent universities—Southampton, Bath, Bristol, Cardiff, Exeter, and Surrey—boasts a collective research portfolio worth over £600 million. To date, the collaboration has generated more than 230 spin-out companies, fostering a thriving innovation ecosystem across the region. However, regional startups still face significant funding disparities, raising, on average, five times less capital than their counterparts in the UK’s Golden Triangle.

QantX aims to address this gap by increasing investment in regional spin-outs, protecting intellectual property, and driving long-term economic impact. The firm has a proven track record in supporting ambitious science and technology ventures, with successful investments in companies such as Senisca, Ensilitech, iFAST Diagnostics, and Neuronostics. This new investment vehicle, in partnership with SETsquared, is expected to provide the risk capital and expertise necessary to accelerate the commercialization of cutting-edge research emerging from the universities.

SETsquared, recognized as one of the most successful university-based innovation partnerships in the UK, has been instrumental in supporting over 400 ventures per year, securing more than £5 billion in investment, and creating over 15,000 jobs since 2002. The University of Southampton, a key member of the partnership, has played a vital role in nurturing entrepreneurial talent and advancing scientific innovation in the region.

Science Minister Lord Patrick Vallance praised the initiative, stating, “This partnership between six leading universities and QantX will help translate groundbreaking research into thriving businesses, creating high-skilled jobs and driving economic growth. It exemplifies the kind of collaboration needed to ensure the UK remains at the forefront of global innovation.”

Professor Mark Spearing, Vice-President (Research and Enterprise) at the University of Southampton, highlighted the importance of this investment vehicle in supporting the region’s entrepreneurial ecosystem. “This initiative will accelerate the progress of science and technology startups, especially those emerging from the University of Southampton, where access to investment capital has historically been a limiting factor for early-stage companies.”

Richard Haycock, Co-Founder and CEO of QantX, emphasized the significance of the partnership in transforming the South and South West into a hub for innovation. “By connecting visionary founders with the necessary capital and expertise, we are fostering a dynamic ecosystem that will drive economic growth, create jobs, and ensure that the benefits of world-leading research are realized within our region.”

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Email: press@southampton.ac.uk

SOURCE: University of Southampton