University of Bath-backed innovation partnership SETsquared has been named as the best business incubator in the world again.
The accolade, first made to the incubator in 2015, was been awarded for its outstanding contribution to developing the next generation of UK tech entrepreneurs.
The announcement was made at the World Incubation Summit and confirms SETsquared’s pre-eminence as ‘number one’ in its field, having maintained its world-leading position since 2015.
SETsquared’s ranking comes as a result of the world’s most extensive benchmark study of university-linked business incubators and accelerators, conducted by UBI Global.
Launched 26 years ago and also including the universities of Bristol, Exeter, Southampton and Surrey, SETsquared nurtures technology-based businesses throughout their lifecycle – from idea through to investment and scale-up.
It has helped more than 2,500 UK hi-tech start-ups raise more than £1.5bn of investment and contributed £3.8bn to the UK economy.
Members benefit from bespoke entrepreneur training programmes and unrivalled access to a network of mentors, alumni, investors, corporate partners and the knowledge base of the five universities.
Last year more than 880 entrepreneurs participated in SETsquared programmes and it incubated 381 companies, raising a record £218m investment between them – the highest ever annual investment raise from the SETsquared portfolio.
SETsquared’s success today earned praise from Business Secretary Greg Clark.
He said: “The SETsquared partnership has not only helped nurture and grow British technology businesses, but it has also contributed nearly £4bn to the UK economy which is an incredible achievement.
“Being recognised as one of the world’s leading business incubators is fantastic news and testament to the hard work and dedication of the team at SETsquared and the universities they work with.
“Through our modern Industrial Strategy, we’re calling on businesses to invest in the latest technology trends, and through our Sector Deals and Grand Challenges, we want the UK to be at the forefront of the technology revolution and make Britain fit for the future.”
UBI Global CEO and co-founder Ali Amin added: “Congratulations to SETsquared for ranking as the world’s top university-managed business incubator again. The partnership’s continued success is testament to the innovation and high level of business support it offers.
“This has resulted in high economic impact and growth for the companies it works with.”
SETsquared innovation director Simon Bond, who is based in the partnership’s Bath base in Carpenter House, Broad Quay, said: “We’re delighted to be acknowledged once again as the world’s top business incubator and it is an honour to be recognised by UBI Global in this way alongside the best performing university business incubators and accelerator programmes in the world.
“This ranking reflects the commitment of the SETsquared team, a university environment in the UK that embraces innovation and enterprise and, of course, the sheer talent and drive of the entrepreneurs and companies that we have the privilege to work with.”
Pictured: SETsquared staff at a previous celebration for being named world number one incubator
