British university-based businesses seem to have shrugged off the worst of the recession.
The total income generated by companies that were founded by university staff or students was £3.57 billion in 2012-13, up 5.1 per cent on the previous year. The figures were published today by the Higher Education Statistics Agency.
Some 9,836 university-based businesses were trading in 2012-13, up 11 per cent on the previous year. Almost 39,000 people were employed by them, up 18 per cent on the previous year. Graduate start-ups fared particularly well. Some 3,500 were established in the UK in 2012-13 and the total number active surged by 13.6 per cent to 8,100. Growth in staff start-ups was also strong, up 15.5 per cent to 432, but the number of formal spin-offs not owned by a university slipped by 6.3 per cent to 208.
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