Written question asked by Chi Onwurah (Labour) on Monday, 15 April 2024, in the House of Commons. It was due for an answer on Thursday, 18 April 2024 (named day). It was answered by Andrew Griffith (Conservative) on Thursday, 18 April 2024 on behalf of the Department for Science, Innovation and Technology.

Research and Science: Business

Question: To ask the Secretary of State for Science, Innovation and Technology, with reference to the Higher Education Statistics Authority report entitled Higher Education Provider Data: Business and Community Interaction 2022/23, published on of 4 April 2024, what assessment her Department has made of the reasons for the decline in the number of spinouts from 2021-22 to 2022-23.

Answer: There were five fewer spinouts owned by Higher Education Providers formed in 2022-23 compared to 2021-22 based on the Business and Community Interaction data. However, this was accompanied by an 8.9% increase in the number of spinouts surviving at least three years. The government is committed to increasing the commercialisation of university research and accepted all the recommendations of the independent review of university spinouts in November 2023.

Secondary information