£400 Million Student Start-Up Turnover: Nottingham Ranks Among the Best

Empowering Entrepreneurs: Nottingham's Role in Start-Up Ecosystems

The University of Nottingham, ranked 24th in Europe and 15th in the UK by the QS World University Rankings: Europe 2024, is a founding member of the prestigious Russell Group of research-intensive universities. Renowned for its pioneering spirit, the university has established global campuses in China and Malaysia, extending its commitment to education, research, and industrial engagement worldwide. Recognised as Sports University of the Year 2024 by The Times, Sunday Times, and Daily Mail guides, Nottingham continues to excel in its academic and athletic pursuits. It ranks seventh for research power in the UK, according to REF 2021, with groundbreaking innovations such as MRI technology and ibuprofen originating from its research efforts. The university has also made significant contributions to addressing global challenges, including sustainable food production, greener transport solutions, and the fight against modern slavery.

As a major employer and industry partner locally and globally, Nottingham stands out for producing highly employable graduates, ranked third most targeted by top UK employers (High Fliers 2024). It also leads the Universities for Nottingham initiative in collaboration with Nottingham Trent University. This pioneering program aims to enhance prosperity, sustainability, health, and opportunity for the local community, showcasing the university's strong commitment to social impact. The university's role in driving innovation and economic growth is evident in its remarkable rise in spin-outs and start-ups. Over the past decade, spin-outs from Nottingham have surged, growing from 8 between 2005 and 2015 to 29 between 2015 and 2025. According to HESA data, the university now supports a vibrant ecosystem that includes 36 staff start-ups, 135 student start-ups, and seven social enterprises.

Additionally, Nottingham ranks second in the UK for student start-up turnover, with ventures generating over £400 million in 2022/23. This achievement aligns with the Unis Start Up the UK campaign by Universities UK, which highlights how universities drive local growth, investment, and job creation through entrepreneurship. Nationally, since 2015, UK universities have helped create 38,750 companies, with active firms rising by 70%. During this time, student start-up turnover increased by 757%, investment by 346%, and employment by 177%, reaching 64,384 jobs in 2022/23. These figures underscore the critical role universities play in fostering innovation and supporting the economy.

Professor Rodden emphasized that the University of Nottingham has established a robust ecosystem for supporting start-ups and spin-outs. He attributed this success to the university's expertise, world-class research, and entrepreneurial ethos, which drive its mission to deliver societal benefits through innovation led by students, staff, and commercial teams.The Nottingham Technology Ventures team further amplifies this impact by transforming university research into practical applications. It manages a portfolio of nearly 40 spin-out companies engaged in cutting-edge technologies spanning healthcare, agriculture, environmental solutions, digital innovation, and manufacturing.

In addition, the university is part of the Midlands Innovation group and launched Midlands Mindforge Ltd., an investment fund aimed at raising £250 million. This initiative seeks to accelerate the commercialization of transformational technologies, driving both regional and national economic growth. The university’s Ingenuity Lab, based on its Jubilee Campus, supports students and alumni in developing business ideas and fostering entrepreneurial innovation. Through its Ingenuity Impact Programme, the lab has provided £1 million in seed funding, leading to the creation of 489 ventures that address pressing social and environmental challenges.

Nottingham's entrepreneurial excellence extends to its graduates, as demonstrated by a PitchBook study. The analysis ranked the university among Europe’s top 10 universities, with 175 alumni founding companies and raising venture capital over the past decade. Vivienne Stern MBE, Chief Executive of Universities UK, praised the decade-long growth of university-supported start-ups, calling it a remarkable success. She emphasized the need for robust support systems to help these businesses thrive within the UK and highlighted the critical role universities play in fostering economic development through knowledge exchange, graduate education, and business collaboration. She also stressed the importance of stable funding to sustain these contributions.

As part of Universities UK’s national campaign, Nottingham’s spin-out company, Neurotherapeutics, will be featured. This innovative venture, based on research from the university's School of Psychology, is developing a wrist device that uses electrical pulses to reduce tics in individuals with Tourette’s, further showcasing the university's groundbreaking research. The University of Nottingham exemplifies the transformative power of higher education in driving innovation, supporting entrepreneurship, and addressing global challenges. Through its research excellence, entrepreneurial initiatives, and commitment to societal impact, it continues to shape the future, both locally and globally.

Editor's Note

The University of Nottingham stands as a beacon of excellence in higher education, blending world-class research, entrepreneurial spirit, and social impact. Its commitment to pushing boundaries is evident not only in its impressive academic rankings but also in the tangible ways it contributes to addressing global challenges such as sustainable food production, greener transport solutions, and the fight against modern slavery. This comprehensive approach ensures that Nottingham remains at the forefront of innovation, transforming research into real-world applications through its thriving ecosystem of start-ups and spin-outs. Nottingham’s role in the local and global economy is undeniable, as demonstrated by the rising success of its student and staff ventures, which have collectively generated significant turnover and employment opportunities. This impressive entrepreneurial activity is supported by initiatives like the Ingenuity Lab and the Midlands Mindforge investment fund, which foster new ideas and technologies with the potential to drive economic growth.

According to Skoobuzz, the university’s unwavering commitment to research, innovation, and societal benefit continues to shape not only its students but also the wider community and industries worldwide. This vision serves as a testament to the transformative power of education and its ability to create lasting change.