UK universities join forces to create startup investment group

Leeds, Manchester and Sheffield universities form 'Northern Gritstone' to fund businesses borne from academic research

Leeds, Manchester and Sheffield universities have joined forces to launch an investment company that aims to help the commercialisation of university spin-offs and tech startups in the North of England. 

The firm, which is called Northern Gritstone, will fund enterprises from each institution using capital raised from a cohort of different investors

Leeds, Manchester and Sheffield universities have previously supported around 20 commercially viable projects via the 'Northern Triangle Initiative'. That was created in 2018 and forms the basis of Northern Gritstone, which aims to be a key part of the government's 'build back better' agenda to boost economic growth in the North

Each backed startup will either be a newly formed or an already established company that is linked to one of the universities. These are usually tech and science-based SMBs that are either borne from university research or founded by faculty members and/or students. 

Northern Gritstone will provide both 'startup' and 'follow-on' funding to support intellectual property development with a plan to raise £500 million from its corporate partners, institutional investors and "qualifying individuals".  

Jane Madeley, the CFO for the University of Leeds, will represent the institution as a non-executive director on Northern Gritstone's board.

Related Resource

The total economic impact of the Intel vPro® platform

Cost savings and business benefits enabled by the Intel vPro® Platform, commissioned by Intel

Intel vPro® platformDownload now

"Leeds and our fellow founding universities are technological powerhouses, pursuing research and innovation that has the potential to help tackle some of the biggest challenges facing the world," she said. "But a lack of capital investment has sometimes limited that capability - Northern Gritstone will go a long way to help release this pent-up potential."

If the company is successful with its funding plans, it will make Northern Gritsone one of the largest investors for commercial university tech and science-related intellectual property. Plastic Logic is an example of a university spin-off, having been created at Cambridge's Cavendish Laboratory in 2000. 

Featured Resources

How to be an MSP: Seven steps to success

Building your business from the ground up

Download now

The smart buyer’s guide to flash

Find out whether flash storage is right for your business

Download now

How MSPs build outperforming sales teams

The definitive guide to sales

Download now

The business guide to ransomware

Everything you need to know to keep your company afloat

Download now

Recommended

So you want to work for a tech startup? It’s not all ping-pong tables and yoga
startups

So you want to work for a tech startup? It’s not all ping-pong tables and yoga

22 Dec 2020
The IT Pro Podcast: Is the sun setting on Silicon Valley?
Business strategy

The IT Pro Podcast: Is the sun setting on Silicon Valley?

18 Dec 2020
TechUK urges government to level digital divide
digital divide

TechUK urges government to level digital divide

7 Dec 2020
The IT Pro Podcast: COVID-proofing your startup
startups

The IT Pro Podcast: COVID-proofing your startup

10 Jul 2020

Most Popular

KPMG offers staff 'four-day fortnight' in hybrid work plans
flexible working

KPMG offers staff 'four-day fortnight' in hybrid work plans

6 May 2021
16 ways to speed up your laptop
Laptops

16 ways to speed up your laptop

29 Apr 2021
How to move Windows 10 from your old hard drive to SSD
operating systems

How to move Windows 10 from your old hard drive to SSD

30 Apr 2021