University spin-outs twice as likely to succeed when backed by UK funding agencies, new analysis shows.
According to a new report by UK Research and Innovation (UKRI), 97 per cent of university spin-outs receiving funding from its commercialisation arm Innovate UK or the state-owned British Business Bank remained active, compared with 49 per cent of those that did not.
Those chosen for Innovate UK funding employed 18 people on average compared with four for those solely backed by universities, it adds.
