The University of Dundee has been named the UK’s best for supporting spin-out businesses, according to new research.
It beat the likes of Oxford, Cambridge and University College London to top the newly published list.
The report looked at factors including numbers of patents, spin-out companies created and recent portfolio success.
Spin-outs are companies founded within a university, often to commercialise academic research.
For Dundee, that included the £2.2 billion IPO of Exscientia on the US NASDAQ, one of the largest ever UK university exits.
Dundee the ‘undisputed home of spin-outs’
Dr David McBeth, the university’s vice-principal for enterprise and economic transformation, said: “This award confirms Dundee’s modern status as the undisputed home of successful UK spin-outs.
“The foundations of our success are world-leading life and biomedical sciences research, and innovative entrepreneurial researchers.
“Our commitment to driving the creation of increasing numbers of high growth potential spin-out and start-up companies is reflected in several infrastructure investments.”
Those investments include a new life sciences innovation hub, part funded by the Tay Cities Deal. It is due to open in late 2024.
Plan to make Dundee a ‘magnet’
After topping the report, compiled Octopus Ventures, one of Europe’s largest venture capital teams,.Mr McBeth said the university’s aim is to become a “magnet” for the life sciences and health sector.
However, he said currently some spin-outs are moving away from Dundee, or indeed out of Scotland, in order to expand.
Mr McBeth added: “We are demonstrating in real-time the sort of impacts that many government strategies seek.
“It is critical that we work with government and its agencies, and vice versa, to create the infrastructure that will help keep these businesses and the jobs they create, closer to their origins.”
Dundee University firm wins £40m deal
Another Dundee University spin-out that has gone on to achieve success is biotech firm Tay Therapeutics.
Formerly known as In4Derm, it spun out from the university’s school of life sciences in 2020.
It was founded by Dr Andrew Woodland and Dr Mark Bell. They aim to develop the next generation of drug therapies.
Earlier this year, the company announced a licensing deal with Vyne Therapeutics worth a potential £40 million. That followed a £16m deal in 2021.
It operates from the university’s incubator for businesses and employs 12 people.
Dr Woodland hailed the impact of the university’s support.
He said: “Being able to develop our spin-out company and drug discovery projects within the University of Dundee gave Tay Therapeutics access to cutting edge facilities, world class experts and a unique innovation ecosystem.
“We would not have been able to license two of our projects without the university’s initial support.
“Dundee truly is the City of Discovery, and the University of Dundee is an essential element of that.”
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