SETsquared has released data which shows that companies supported by University of Bath including SETsquared Bath, have raised £25.5m worth of investment from private and public sources in 2020.

This is also reflected in the national picture whereby companies in the SETsquared Partnership ecosystem raised a record level of investment totalling £616m in 2020, which represents a 40% increase on 2019.

These companies will have received support through a range of different programmes including through the SETsquared Bath Business Acceleration Hubs, ICURe innovation to commercialisation programme, research commercialisation services and the Student Enterprise Entrepreneurship Programme.

“The record-setting £616m raise reflects the hard work of hundreds of committed founders and innovators across the SETsquared ecosystem who are developing technologies which will transform the future, from the way we live, travel and learn to the way we care for each other and our environment.” said Simon Bond, Innovation Director at SETsquared.

“It shows that even during a global pandemic, strong ventures with good university connections, ambitious teams and the right support, will continue to raise investment.”

SETsquared Bath member Kinderly raised £300k in 2020 for its digital resources for early years childcare professionals. As a member of the SETsquared Bath Innovation Centre, Geraint Barton founder of Kinderly, was introduced to the Digital Innovation Business Acceleration Hub (DBAH), a business support programme funded through the European Regional Development Fund (ERDF), partnered with SETSquared and the University of Bath.

The DBAH provides fully funded, coaching and bespoke business support for scaling up companies with high growth potential. Geraint met with Garry Pratt, Entrepreneur in Residence for the DBAH programme and it became apparent that consultancy support specifically looking at business planning for expanding into the global market would benefit Kinderly as well as support writing and reviewing grant applications.

SETsquared Bath Centre Director Brian Prescott said:

“It’s incredible how well our member businesses have adapted to take advantage of changing market conditions supported by SETsquared Bath’s remarkable community of experienced business mentors, specialist tech advisers and academic researchers. This is clear from the growth in Grant Funding which showed a nearly five-fold increase against last year; an additional £2.5m successfully accessed by our members.”

“As well as the success of Kinderly, DBAH member Huboo, led by Bath resident and former Innovation Centre mentor Martin Bysh, raised £14.1m in Series A funding as demand for eCommerce fulfilment services skyrocketed.”

SETsquared, the global no. 1 university business incubator and enterprise partnership of research-intensive universities Bath, Bristol, Exeter, Southampton and Surrey, supports tech-based businesses from start-up to scale-up with a range of specialist programmes to help companies grow and raise investment.

Businesses supported by the University of Bath have raised £25.5m investment despite the global pandemic