How do universities support start-ups?

What’s a start-up?

Start-ups are new businesses that are often started by either staff or students of UK universities.

Universities often have entrepreneurship programmes or incubators which help students and staff to start new businesses, and they’ve been increasing their efforts to grow these initiatives.

Incubators are designed to help start-ups grow and thrive. They generally provide support like physical office and meeting spaces, advice and support for generating ideas, networking opportunities and mentoring.

Start-ups are varied. They can come from a student or graduate setting up their own professional practice, creating a social enterprise, developing a product, or supporting the adoption of technology such as AI. Universities also create ‘spin-outs’, which can turn university research into a product or service.

Is a start-up different to a spin-out?

Start-up and spin-out are terms that are sometimes used interchangeably, but have important differences.

Spin-outs (sometimes called spin-offs) are start-up companies set up to specifically make use of intellectual property (ideas, products, and inventions) that originated from research within a university. Often, the university will be involved, but the companies are separate from the university itself.

Both spin-outs and start-ups enable universities to use their talent, ideas and expertise to support local and national growth, create local economic clusters of businesses and support the development of key economic sectors. 

How do universities support start-ups?

Support from universities ranges from embedding entrepreneurship skills into the curriculum to providing practical support and investment to create and grow businesses.

Universities support the start-up journey by:

1. Encouraging student interest and generating enthusiasm for enterprise by:
   • developing students’ entrepreneurship skills
   • holding events and workshops
   • providing placements or internships with entrepreneurs and small businesses
   • providing personal skills coaching
2. Stimulating students to generate their ideas by:
   • holding events with entrepreneurs
   • holding competitions
   • organising summer schools and festivals
   • supporting enterprise networks and clubs
3. Empowering students to turn their ideas into a successful business through:
   • specialist technical and funding advice
   • direct start-up funding
   • investor events
   • mentoring
   • incubator/accelerator space and support

Supporting graduates

Often, this support isn’t just for students – graduates have access to support to start-up their own businesses too. Many careers’ services offer support after students have graduated.

For example:

• The University of Aberdeen’s ABVentures service provides free entrepreneurship skills and support to students and recent graduates.
• The University of the West of England (UWE Bristol)’s Launch Space is an incubator for early-stage and graduate tech start-ups.
• Cardiff University offers student and alumni support for up to three years after graduation, including skills and business start-up workshops, one-to-one business advice and access to free start-up office space.

Supporting local communities

Many universities also offer support to entrepreneurs in their local communities, so that people from outside the university can start or grow their own businesses. 

For example, the University of West London’s start-up enterprise support programme for women is supporting women in west London to develop their business ideas.