The number of start-ups launched with university support has risen sharply over the past decade, with higher education institutions playing an increasing role in business incubation and entrepreneurship training.
Data from the Higher Education Statistics Agency (HESA) shows a 70% increase in university-backed start-ups between 2014-15 and 2022-23, averaging more than 4,300 new businesses annually. A total of 38,750 companies have been established through university support since 2014.
Financially, student start-up turnover across the sector has surged by over 750% in the past decade, reaching nearly £5 billion. External investment in these ventures has also grown significantly, rising from £303 million to £1.35 billion—an increase of almost 350%.
These start-ups contribute to job creation, employing 64,384 people in 2022-23—up 177% over the past decade. With continued growth, Universities UK (UUK) estimates that around 27,000 new start-ups could be established through university support over the next three years.
Universities facilitate this growth through business mentorship, workspace provision, investor connections, and networking events. Three-quarters of UK institutions now offer enterprise-focused modules to equip students with entrepreneurial skills.
Universities UK has launched the “Unis Start Up the UK” initiative to highlight the role of university-supported businesses in economic development. Case studies include Bullion, a Sheffield-based bean-to-bar chocolate company founded by a Sheffield Hallam University graduate with the university’s enterprise team’s backing.
