SETsquared Bath firms increase investment again

27 Feb 2019

SETsquared Bath companies increase investment again in 2018

2018 saw another incredible year for SETsquared Bath member companies, with a total investment raise of £15m made up of private investment and grant funding. Following their annual survey of members they have announced that in 2018;

  • 47 ‘High Tech’ Start up and Scale up SETsquared Bath member companies were supported;
  • £15m + was raised in total investments; £2.5m of which was collaborative grant funding;
  • 58 (extra) jobs were generated in the city by SETsquared Bath companies;
  • 9 University of Bath startups and spin outs joined the centre as well as 3 Graduate entrepreneurs who were supported by the Alumni Innovation Award;
  • 150 + student entrepreneurs were supported through competitions and programmes including 3 Day Startup, Business Plan competition, Apps crunch and Dragons’ Den
  • 120 companies were supported through the ERDF funded business acceleration hubs for Sustainable Technology, Social Enterprise & Innovation, Digital Platforms & Advanced Engineering [Target – work with 550 SMEs over 3 years]

The record success of companies at Bath centre ties in with the figures across the wider SETsquared partnership which has seen a 34% increase on the investment achieved in 2017, and which continues a five-year upwards trajectory in year-on-year investment raised.

Simon Bond, Innovation Director, SETsquared says:

“2018 was a stellar year for SETsquared member companies. Behind their financial success is an important story of ongoing investment in UK innovation and the creation of business solutions that will help solve major global challenges such as energy consumption, the food crisis and chronic health conditions. We look forward to working with our members, investor and partners to build on this success in 2019.”