The University’s student startup accelerator Runway launched in March 2022. In Runway’s first pitching competition, four startups won a total of £50,000 in funding, giving them the early resource and credibility they needed.
The four startups have gone on to raise a further £3.8 million through angel investors and innovation grants and have created 18 jobs so far.
Runway Director and University of Bristol Associate Professor in Innovation, Mark Neild, said: “University offers a safe space to experiment, with excellent access to knowledge, skills and mentoring.
“Students are refreshingly free of preconceptions and that open-mindedness to new ideas – combined with their energy, intelligence and access to social networks – invariably creates amazing products that resonate well with customers, while solving societal needs.
“Student startups are underappreciated in the UK. These founders could have walked into high-paying graduate roles, but they chose to take the risk, and it has paid off, bringing much needed positive social change as well as creating jobs and wealth.
“The small grants we provide prove decisive to their perseverance, with many reporting that our support unlocks future funding.”
Milbotix won £20,000 for its AI-enabled smart socks that could transform the care of people with dementia and autism. Founder Dr Zeke Steer has raised more than £1,750,000 and is currently seeking a further £250,000 in Milbotix’s latest funding round.
Eleria won £11,500 from the University for its portable period cup cleaning and sterilisation case. Founders Kira Goode and Monica Wai have since closed a funding round and in April officially launched the patented case enabling more women to embrace reusable products.
Eleat won £10,000 for their high protein, low sugar cereal. Founded by friends Hywel Rose and Hugh Hamilton-Green, the cereal now has eight flavours and is sold in Co-Op stores.
Mifu won £10,000 for its AI-powered influencer marketing platform and a further £22,000 in funding from other Runway awards. Founders Kasim Khan, Alex Asher and Mark Bushby have since worked with global brands including Miniclip, the BBC, Universal and Studio Canal.
Eleria founders Kira and Monica said: “The funding support we received from Runway has been instrumental in helping Eleria get to where it is today.
“Not only was it a vote of confidence in the impact we are creating, but it helped us to take meaningful steps towards empowering menstruators’ health and wellbeing.”
Runway startups receive business, legal and innovation advice, access to funding via pitching competitions and mentoring in pitching and growth planning skills.
Since its first funding round, Runway Awards has awarded £230,000 in funding to 20 startups.
The University of Bristol’s startup infrastructure also includes its tech incubator SETsquared Bristol, dedicated teams that turning academic research into businesses, the University of Bristol Business School and its Careers Service.
The University of Bristol’s startup competitions receive generous funding from the Jim and Peggy Wilkinson Innovation Fund, and other alumni and friends of the University.
This latest news follows another accolade for Bristol, after the University’s Centre for Innovation and Entrepreneurship was recognised as having the best entrepreneurial higher education course in the UK and Europe at the Triple E Awards. The awards celebrate university entrepreneurship and engagement around the world, and saw Bristol achieve Runner-up in the Global Entrepreneurship Course of the Year, with Purdue University in the US claiming first place.