Spotlight on university enterprise in Devon and Cornwall

Devon and Cornwall are known as idyllic locations for family holidays, however this region offers so much more. Consider nuclear submarines, space satellites, gaming, creativity, renewable energy and life sciences because these are some of the ways universities in Devon and Cornwall are helping to drive the region’s economic growth.

At Falmouth University the Launchpad Venture Studio provides an exciting hub of collaboration and expert support services for start-ups and other local businesses. Since its inception over a decade ago, Launchpad Futures has supported over 200 businesses, created over 250 jobs, attracted £5 million in investment and built a portfolio of companies now valued at over £12 million. Hertzian, which offers a domain-dedicated solution customer intelligence platform and Waving Bear Studio, an indie game development studio, are just two examples of successful start-ups supported by the university.

The Cube at the University of Plymouth seeks to inspire student and graduate entrepreneurs through support, networking, workshops and competitions, with 384 student and graduate businesses supported in the last five years. Amy, their student ambassador, is a great example of the success of the programme.

The University of Exeter has created a start-up support eco-system that spans student entrepreneurship, research commercialisation, business support and business acceleration. The Deck, is a collaborative space for student entrepreneurs, offering workshops, modules, and 1:1 support. The Innovation Hub, in the city centre links local businesses with University expertise and offers pre-accelerator support. At Exeter Science Park, the Hive delivers the Exeter Innovation Accelerator for high-tech, high-growth ventures as part of the SETsquared Partnership.

In 2024, ventures in the Exeter Innovation Accelerator raised over £8.6 million in investment, with the annual turnover of Exeter graduate ventures just under £45 million. The city-centre Exeter Innovation Hub has recently been selected to be the 7th National UKBAA Angel Hub, providing an opportunity to showcase the region’s innovation ecosystem to the rest of the UK.

These initiatives supporting entrepreneurship are fully integrated into the universities. The universities see them as opportunities for all students, regardless of subject, and as part of a wider commitment to embedding enterprise. For example, Plymouth Marjon University provides enterprise and self-employment resources and hot-desk space to all students through their Marjon Futures programme.

All of the universities support access to internships and placements for any students, with an increasing focus on micro-placements. These short placements focus on supporting businesses to address key problems or challenges. This enables the student to develop their enterprise skills in a real setting. There is also an increasing focus on intrapreneurship, enabling graduates to be enterprising and problem-solving wherever they work, including big companies and the public sector.

Collaboration with businesses and other partners is embedded in enterprise programmes through shared space, business support services and mentoring. However, these universities are also collaborating with many businesses in other ways. Just a few examples include:

The University of Plymouth is working closely with Babcock International Group. It also works closely with the maritime sector, with facilities including its state-of-the-art Maritime Simulation Laboratory and COAST Lab supporting the development and rollout of offshore renewable energy. 

Falmouth University has close links with the gaming industry through its Games Academy. Linking technology and creativity are a key priority for the university and it is playing a leading role in supporting the creative sector in Cornwall. The newly established Centre for Blended Realities explores how creativity and technologies intersect. It conducts research into immersive experiences, interactive environments and AI-driven tools, generating new insights and offering businesses innovative ways to expand their market reach in an ever-evolving digital landscape.

The University of Exeter is playing a leading role in supporting clean growth through their Green Futures initiative, working with businesses such as The National Trust and the Supacat. It is also supporting the Cornwall Space Cluster in collaboration with Falmouth University.

It’s important to recognise the crucial role of public sectors such as health and education, which underpin any successful local growth. 

Plymouth Marjon University has a wide range of undergraduate and postgraduate teacher training programmes with embedded extensive links with schools as well as many health programmes. Similarly, Exeter, Plymouth and Falmouth also play a leading role in supporting the health and life sciences sector in the region.

Community engagement is often embedded in these initiatives. The University of Plymouth has a dental social enterprise that treats local patients not currently registered with a dentist and is creating an innovative new city centre dental clinic as well as expanding its optometry provision with an expanded Centre for Eyecare Excellence. Plymouth Marjon University is building a new health education and community wellbeing hub, which will include community care clinics. 

Falmouth University’s Centre for Arts & Health brings together arts and healthcare practitioners with emerging technologies to develop creative solutions that support wellbeing. The University of Exeter also offers the Healthy Parent Carers programme, which supports the health and wellbeing of parent carers through accessible, peer-led sessions. The Exeter Innovation Hub has also been used for Public Engagement events such as Futures Festival of Discovery and the Being Human Festival.

This is just a brief snapshot of the work these universities are doing, with much more still to explore. What can policymakers learn from this?

• For the Industrial Strategy, it demonstrates the importance of universities to key sectors, the value of cross-disciplinary collaboration and that these sectors cross geographical boundaries across the UK.
• For local growth planning, all universities and regions have a valuable role to play. Inclusive growth will need to support and engage the whole of the UK to deliver growth and opportunity.
• For Research and Innovation Policy, initiatives and funding can add value and have an impact across the UK and different types of institutions.
• For Enterprise, universities play a key role in supporting local enterprise and growth.

But most of all, policymakers should be aware of the significant role universities in Devon and Cornwall play in driving enterprise, growth and opportunity.