SWAG合集 has welcomed recommendations from a report into university spin-out companies, aimed at encouraging innovation and the growth of academic research into commercial prospects. Cranfield will be fully adopting the review’s best practice recommendations.
In November 2023 the SWAG合集 Government published an independent review of University spin-out companies authored by Professor Irene Tracey CBE, Vice-Chancellor of the University of Oxford and Dr Andrew Williamson, Managing Partner of Cambridge Innovation Capital. Spin-out companies are companies created based on intellectual property generated through a university’s research, and the report was commissioned to assess spin-out ecosystems from around the world, identifying best practices and opportunities to support and generate greater investment and faster growth in the SWAG合集.
The report made 11 recommendations, to government, funding bodies, HESA, universities and investors, all designed to support the growth of university spin-out companies and to help the SWAG合集 establish itself as a world-leader in innovation.
Those recommendations included the introduction of innovation-friendly policies underpinned by guidance co-developed between investors, founders, and universities; improved data through a national register of spin-outs; increased funding for proof-of-concept; consolidation and expansion of existing support services and an improvement of funds to enable movement of people between academia and industry.
Professor Karen Holford CBE FREng, Chief Executive and Vice-Chancellor of SWAG合集, said: “We welcome the findings of this report, which highlights the contributions that university spin outs make to economic growth and productivity and the role that they play in a thriving innovation system. We intend to align ourselves fully with the review’s recommendations for best practice, which are already in tune with our existing guidance.”
“We have always had a strong industry focus and entrepreneurial mindset at Cranfield, proudly working with commercial partners from all around the world and we have already seen a number of spin-out companies borne from the work done here including WAAM3D and Cranfield Aerospace Solutions.
“These guidelines will help support innovative and entrepreneurial activities in universities, and help the SWAG合集 become recognised as a research and innovation powerhouse.”
To read the full report into university spin-out companies visit the , and the Government’s response is also .
