QantX has partnered with The SETsquared Partnership universities to announce a new £300m investment vehicle to catalyse the creation and growth of science and technology companies addressing global challenges.
Chair of QantX Sir Richard Olver announced the initiative at Bristol City Hall on 11 October at the Regional Investment and Health & Life Sciences Summit, part of the Bristol Technology Festival.
The summit was attended by the Science Minister Patrick Vallance and MP Darren Jones, who both showed their support for the new company. Lord Vallance said:
“The UK is home to brilliant innovators, and this investment vehiclefund that brings together six Universities with a private sector investment firm QantX will help turn great ideas into thriving companies that create high skilled jobs and exciting new products.
“As we prepare for next week’s UK-hosted International Investment Summit, the Government is clear that the UK is open for business. Partnerships like this, between investors and innovators, are vital if we are to grow the economy, boost opportunities and ultimately improve lives.”
Why do we need to invest in early-stage businesses?
Combined, the six SETsquared Partnership universities – including Bath, Bristol, Cardiff, Exeter, Southampton, and Surrey – invest over £600m a year in R&D, equivalent to Oxford and Cambridge. Yet, startups in the region raise on average five times less at early stages than in the Golden Triangle, leaving valuable IP underfunded.
This new investment vehicle will drive a much-needed step change in early-stage patient capital, expertise, and support available to University spin-outs and start-up companies who are working on creating global impact in areas of sustainability, clean energy, and healthcare.
As demonstrated by successful models elsewhere in the UK and internationally, this initiative will open up significant co-investment opportunities, de-risk early-stage deep tech propositions for the VC and Angel investment community and increase the overall amount of capital available. Investors are invited to get in touch to help shape the next steps of this exciting initiative.
Why SETsquared and QantX?
QantX is on a mission to bring modern economic success to the region by increasing the number of spinouts, protecting intellectual property, and creating long-term impact.
They have a track record of backing the most ambitious science and technology founders – including award-winning teams at Senisca, Ensilitech, iFAST Diagnostics, and Neuronostics – and developing connections across university innovation ecosystems.
The SETsquared Partnership:
- has a research portfolio of over £600m and has produced over 200 spin-out companies
- was recently ranked by the Financial Times and Sifted as one of the top three start-up hubs in Europe.
- has worked with over 400 ventures per year with members securing over £5bn in investment and creating over 15,000 jobs since 2002
Despite this success, the potential impact of R&D to power regional growth and productivity is being held back due to significant imbalances in equity funding across the UK.
Richard Haycock, Co-Founder & CEO, QantX, explains: “While the UK ranks fourth globally in cutting-edge research and innovation, we’ve often struggled to commercialise these breakthroughs. Our partnership with the SETsquared Universities aims to change this in the South and Southwest. We’re witnessing a surge in university spinouts led by brilliant founder entrepreneurs.
“By connecting these visionaries with risk capital and expertise in transformative fields like life sciences, sustainability, and deep tech, we’re cultivating a thriving innovation ecosystem. This collaboration will accelerate economic growth, create high-skilled jobs, and deliver returns for our investors. We’re not just funding companies; we’re empowering local entrepreneurs to transform our region into a powerhouse of innovation, ensuring the fruits of our world-leading research flourish right here at home.”
Marty Reid, Executive Director, SETsquared, continues: “The potential scale and quality of science and technology companies emerging from across the SETsquared University clusters is a match for any ecosystem. Creating this new investment company could be a vital step forward in addressing funding gaps we see today, and through a deep connection with our support ecosystem, could inspire a new generation of talent who will get technologies out of the lab and shape the industries of tomorrow.
“We are delighted to formalise our collaboration with QantX, who bring a wealth of complementary experience from global industry and finance and a shared ambition to build a truly world-leading regional ecosystem and an economy with innovation at its heart. Collaboration is key to what we are building, and we would be delighted to engage with the broader investor community and any stakeholders interested in playing a part as we move forward”.
To find out more contact:
Richard Haycock, QantX – enquiries@qantx.co.uk | www.qantx.co.uk
Marty Reid, SETsquared – info@setsquared.co.uk
Pictured L-R:
Chris Evans, University of Exeter
Richard Hayock, CEO QantX
Professor Michelle Barbour, Associate Pr Vice Chancellor: Enterprise and Innovation
Michelle Law, QantX consultant
Sir Richard Olver, Chair QantX
Diana Galpin, Director Enterprise & Knowledge Exchange at University of Southampton
Marty Reid, Executive Director, SETsquared