Northern Gritstone, the investment company created by the universities of Leeds, Manchester and Sheffield, aims to address a major, damaging imbalance within the UK’s economy. “There is very little money reaching the north of England as a whole for science and tech investment,” said its chief executive, Duncan Johnson.
By raising finance to invest in spin-off companies from the three universities and other science and technology businesses linked to them, Northern Gritstone, he continued, will be helping to create “businesses that will power the northern economy, the UK economy, for generations to come…And through that we will create well-paying, highly productive jobs in parts of the UK that really need it. From that, we will all get a benefit.”
