Investment raised by innovative firms based at SETsquared, the highly-successful business incubator backed by the University of Bristol, has doubled over the past year to £60m – and is expected to rise again in the coming 12 months.
Funding has come through a mixture of angel investors, venture capitalists and Government grants, according to SETsquared, with its innovation director Simon Bond, 
pictured, saying the marked upturn could demonstrate a return in confidence for financers.
SETsquared, which is also backed by the universities of Bath, Exeter, Southampton and Surrey, is paving the way for next year’s expected increase by stepping up its investment-readiness training and its access to investors.
The partnership is holding an event at The Shard in London on November 26 when 21 companies will pitch live to an audience of investors for funding worth £30m.
Simon Bond added: “The companies we support already have dynamic and innovative technologies that have the potential to generate millions and, in some cases, change the world. What these latest figures show is the importance of our work to nurture them and give them access to investment so they can grow and reach their full potential.”
SETsquared, whose Bristol base is in the Engine Shed innovation hub at Temple Meads, supports more than 300 hi-tech, high growth potential start-ups.
Around 15% of these have spun out from the universities with the rest businesses from the surrounding areas.
In the past 11 years SETsquared has developed more than 1,000 hi-tech start-ups that have generated £1bn in investment. Earlier this year it was ranked as the joint best in Europe by the University Business Incubator (UBI), which benchmarks incubators run by the world’s leading universities, and fourth best globally.
