Universities in north-east England are launching a new spin-out fund in collaboration with their local mayor, in what has been billed as a move that will help “derisk” attempts to commercialise academic research.
The five institutions involved – Durham, Newcastle, Northumbria and Teesside universities and the University of Sunderland – have collectively invested £12.5 million in the fund, with Kim McGuinness, who was elected mayor for the north-east in 2024, contributing a further £12.5 million.
With an aim of supporting at least 30 spin-out firms in its first five years in operation, The North East Spinout Inspire Fund will provide funding for high-potential start-ups that seek to translate research into businesses in areas such as clean technologies, digital innovation, life sciences and advanced manufacturing.
Officially launched on 11 June, those involved said it was needed to fill a “critical gap” in support for early-stage companies, where risk is higher and funding is often harder to secure from private sector investors alone.
It is hoped that the fund will also strengthen university links to private sector investors and share the risks of investing, as well as help retain high-growth companies in the region and create new jobs.
