University of Oxford hits research commercialisation milestone

The University of Oxford has announced it has created 300 companies based on research and ideas from students, staff and alumni.

The milestone has been supported by the Unviersity’s research commercialisation arm, Oxford University Innovation. According to the University, for every £1 invested in Oxford research, the University’s innovation activities generate another £10 for the wider economy.

Professor Irene Tracey, Vice-Chancellor of the University of Oxford, said: “The creation of 300 companies is a significant achievement for Oxford University and the UK’s innovation ecosystem.

“Universities have a fundamental role in driving UK economic growth and in stimulating an entrepreneurial culture and ecosystem in Britain. We are immensely proud of our researchers and staff who support the translation of our research into impact, whose efforts bring benefits to our regional, national and global communities.”

Since the formation of Oxford Instruments in 1957, the 300 companies span a wide range of sectors, including life sciences, AI, quantum computing, engineering, cleantech and energy, fintech, and software.

Read more - Oxford University awarded £1.25 million official funding to accelerate vital research

Matt Perkins, CEO of Oxford University Innovation, said: “We are proud to reach this milestone of creating 300 companies.

“Our goal is to support the development of innovative ideas from the university into impactful businesses that benefit society; this milestone is a testament to the dedication of our academics, the hard work of our team, and the strength of the Oxford innovation ecosystem.”

Of the 300 companies, more than half have been created in the past decade, many of which have been catalysed by support from science business builder Oxford Science Enterprises (OSE) and other investors.

Since OSE’s creation in 2015, funding available for Oxford companies has risen considerably. Investment in Oxford companies has increased from an average of £125 million per year (2011-2015) to £880 million per year (2018-2022).

Jim Wilkinson, Chief Financial Officer at Oxford Science Enterprises, said: “Investors from around the world have come to Oxford to back our companies, providing the crucial lifeblood necessary to scale Oxford companies at pace.

“This influx of capital has been met with a surge of talent and rapid development of infrastructure to support Oxford’s portfolio, and is positioning Oxford as the foundations for the UK’s ambitions to become a science superpower.”

Read more - Oxford University scientists’ AI diagnostic test accurately identifies known respiratory viruses in minutes