The SETsquared Partnership, of which the University is a founder member, is one of the UK’s most successful and long-running university-enterprise collaborations. It is now being expanded by the addition of a new institution – the University of Exeter – which will provide further impetus to the Partnership’s drive to create research-led economic growth.

The partnership has a 10-year track record of achievement in developing routes to market for academic research, raising investment and creating jobs through its support for high-tech, high-growth early stage companies – both university spin-outs and companies in the wider community.

In terms of direct economic benefits, over the last five years the Partnership has supported around 650 companies, helped raise more than £150m in capital and created over 1,000 new jobs.

Exeter already has solid links with Bristol and Bath. Its activity in climate change, functional materials, systems biology and translational medicine adds strength to the Partnership’s research base. Exeter also has strong networks and support facilities for high-tech companies and will be a proactive partner in SETsquared’s incubation and business-creation agenda.

The SETsquared Partnership has nearly 7,500 academics at the five universities, which are jointly responsible for nearly nine per cent of the UK’s research budget.

Neil Bradshaw, Director of Enterprise at the University of Bristol and a member of the SETsquared Management Group, said:

‘In these difficult times, the contribution universities make to the economy is key. The SETsquared Partnership has been very effective and expanding our membership will strengthen the role we can play. Exeter is an outstanding research-based university and is strongly engaged with the business community. It is an excellent fit with SETsquared's existing members.’