Reading joins national campaign to showcase economic value

The University of Reading's economic impact reaches approximately £1 billion in GVA (Gross Value Added) and supports over 12,300 jobs nationally. As a leading hub for innovation and enterprise, the University of Reading makes a substantial contribution to both local and national economies.

• Reading ranked in top 20% of universities for 'Working with businesses' according to the Knowledge Exchange Framework

The University has today joined Universities UK's new #UnisStartUptheUK initiative, showcasing the vital role that universities play in supporting student and staff entrepreneurs and driving economic growth through business spin-outs and start-ups.

New analysis from Universities UK (UUK) reveals that by 2028, around 27,000 new start-ups with a predicted turnover of approximately £10.8bn could be established at higher education institutions across the UK.

The University's Thames Valley Science Park, home to innovative companies including Shinfield Studios, directly employs 1,800 people and generates £210 million in direct GVA. 

The University hosts a wide range of innovative businesses and organisations including Agrimetrics, EIT Food, the Institute for Environmental Analytics, and its two most recent spin-outs Astratus and HaemAnalytica. 

Reading provides a foundation for entrepreneurs to thrive, with a number of excellent initiatives, including:

• Henley Business Angels
• The Henley Enterprise Lab
• Entrepreneurs in Residence
• ICURe fellows
• LifeArc fellows
• Your Entrepreneur Scheme
• Research England’s ‘Golden Circle’ initiative

Guy Hembury, Director of Knowledge Exchange Commercialisation & Partnerships at the University of Reading, said: "The University of Reading has established itself as a driving force for entrepreneurship and innovation, with significant impact both regionally and nationally. Along with our talented students and staff, our commercial spaces, innovation centres, and enterprise education are nurturing the next generation of spin-outs and start-ups that will create jobs and power the UK economy.

• The University of Reading is the 13th highest deliverer of continuing professional development in the UK.

Around 86% of Reading graduates go into high-skilled occupations shortly after completing their studies, compared to 79% of all UK graduates, with many entering sectors that are key to driving innovation and economic growth including professional, scientific and technical activities.

University leaders across the UK are warning the government that more firms established at their institutions are being tempted to take their talents and innovations to London or overseas due to a lack of funding available to scale up, with some describing the UK as an 'incubator economy' where firms thrive only to be sold or relocated overseas.

Universities UK is calling on government to make a long-term commitment to the Higher Education Innovation Fund (HEIF), which provides foundational funding for knowledge exchange activities, and to support the establishment of collaborative investment partnerships across the UK to help universities work with businesses and local leaders to drive growth and opportunity.

• The University of Reading is ranked in the top 20% of world higher education institutions and has campuses at Whiteknights, Greenlands, London Road and Henley Business School as well as one in Malaysia.
• The University of Reading hosts the Thames Valley Science Park, Shinfield Studios, and the Natural History and British Museums storage and R&D facilities.
• According to the Research Excellence Framework 2021, 86% of the University's research is considered world leading or internationally excellent.
• For more information about #UnisStartUptheUK, please visit the Universities UK website.