SETsquared ranked top global university business incubator for third time
Press release issued: 7 November 2019
A national university business incubator, with offices in Bristol’s Engine Shed, has been named as the best in the world for the third time for its outstanding contribution to developing the next generation of UK tech entrepreneurs.
SETsquared, which is a unique partnership between the universities of Bath, Bristol, Exeter, Southampton and Surrey, has been ranked the global number one university business incubator for the third consecutive time by leading research and advisory firm, UBI Global. It nurtures technology-based businesses throughout their lifecycle from idea through to investment and scale-up.
The title, which was awarded at last night’s World Incubation Summit in Qatar, continues SETsquared’s ongoing success, having maintained its world-leading position since 2015. This year, the Partnership was commended for demonstrating exceptional value for tech start-ups and the local ecosystem.
With bespoke entrepreneur training programmes and unrivalled access to a network of mentors, alumni, investors, corporate partners and the knowledge base of the five research intensive universities, SETsquared has supported over 4,000 UK high-tech start-ups since its inception, helping them raise more than £1.8bn of investment and creating £8.6 billion of economic impact to date – a figure which is set to rise to nearly £27 billion by 2030.
In the last year alone, 80 students, academics and entrepreneurs in Bristol have participated in SETsquared programmes, with supported companies raising £235 million in investment between them.
The Partnership’s ranking follows the world’s most extensive benchmark study which analyses more than 1,500 incubators and accelerator programmes in 78 countries worldwide. SETsquared scored highly against all 21 key performance indicators (KPIs).
Monika Radclyffe, Centre Director at SETsquared Bristol, said: “Being ranked the global number one university business incubator for the third consecutive time is a fantastic achievement and one which reflects the incredible work done not just here in Bristol but across each of the five partner universities, whose teams work tirelessly to champion innovation and support the brilliant entrepreneurs that are developing their companies through one of our bespoke training programmes.”
Simon Bond, innovation director at SETsquared, said: “We’re thrilled to be acknowledged as the world’s top university business incubator once again and to be recognised amongst the world’s leading university business incubators and accelerator programmes.
“This ranking is testament to the dedication of everyone in the SETsquared team and their commitment to the entrepreneurial talent and research and innovation capabilities of the UK. We hope this ranking demonstrates to entrepreneurs, start-ups and scale-up businesses across Bristol that SETsquared has the experience and track-record to help them succeed and grow.”
Ali Amin, CEO and co-founder at UBI Global, said: “Following a rigorous data-driven approach, we assessed and benchmarked incubation programmes across the world. Our World Benchmark Study 2019-2020 is in tune with the multiple facets of the international incubation ecosystem and illustrates key challenges and opportunities faced by the participating programmes.
“The top lists of programmes were each recognised for outstanding performance in nurturing entrepreneurship and innovation, but SETsquared really stood out amongst its peers. We’d like to extend our congratulations to the whole team for these exceptional results, which really highlight the Partnership’s fantastic contribution to business, innovation and the UK economy.”
SETsquared is an enterprise partnership between the universities of Bath, Bristol, Exeter, Southampton and Surrey which supports technology-based businesses throughout their lifecycle, from idea through to investment and scale-up, and develops entrepreneurial thinking for students, academics and businesses.
UBI Global was founded in 2013 in Stockholm, Sweden to identify where all the innovation hubs are located worldwide and to learn and share what makes them successful. Its World Benchmark Study, this year sponsored by Qatar Development Bank, aims to find common traits and identify best practices amongst these hubs and to help business incubators and accelerators improve their programmes, become more attractive to start ups and increase their overall efficiency.