The SETsquared Partnership, which combines the resources of the Universities of Bath, Bristol, Southampton and Surrey to incubate early-stage technology businesses, has experienced a successful year for investment in the companies it is supporting.
According to new figures, in the year from September 1st 2008, companies in SETsquared incubators received £52.5m from private investors and venture capital funds, creating 142 new jobs.
Over the last 4 years, companies supported by the centres have raised over £170m and created over 1100 jobs.
Energy was the largest industry sector to receive funding, followed by healthcare and information technology. Semiconductors, renewable energy and computer animation businesses also benefited from new investments.
Commenting on the figures, Karen Brooks, Projects Director, said “SETsquared’s incubators increase significantly the chances of success for young technology companies. This is very attractive to investors and we are seeing growing investment from both business angels and VC funds”.
The SETsquared Business Acceleration Centres provides business mentoring and office space to entrepreneurs and business professionals.