SETsquared celebrates at House of Commons
Thu 14th April 2016
The global number one university business incubator, SETsquared, has revealed that its member companies raised over £90m of investment in 2015.This in turn has translated into economic growth, with independent research citing that its companies have created over £3.8bn of value in the South of England’s economy since 2004. The incubator, which has its Southampton base on the Science Park, currently supports 260 high growth potential companies based on technology innovation in sectors as diverse as cloud computing, cleantech, medtech, next generation mobile and spacetech.
SETsquared announced the record investment news in February at a reception at the House of Commons. The event was attended by Minister of State for Universities and Science, Jo Johnson MP, Lords and MPs. Secretary of State for Business, Innovation and Skills, the Rt Hon Sajid Javid MP, said: “Business incubators, such as this, play a crucial role in helping start-ups innovate, compete and grow.”
Simon Bond, Innovation Director at SETsquared commented: “We were delighted to celebrate SETsquared’s ranking as the world’s number one university business incubator at the House of Commons today. The event helped everyone attending to appreciate the profound effect that SETsquared’s ambitious, innovative ventures have on our economy and entrepreneurial culture.”
SETsquared’s plans for continued growth will see the economic contribution created by its companies rise to £8.6bn over the next 10 years.