Bristol business incubator ranked second best in the world

Vince Cable, who recently visited the Engine Shed with Nick Sturge (left)

Vince Cable, who recently visited the Engine Shed with Nick Sturge (left)

A university business incubator, responsible for helping UK businesses secure over £1 billion investment, has been ranked the best in Europe and second best in the world.

The University Business Incubator (UBI) Index described SETsquared – of which the University of Bristol is a member – as ‘outstanding’ for its work to help companies grow and achieve a high economic impact.

The SETsquared partnership, which includes the Universities of Bath, Bristol, Exeter, Southampton and Surrey, has given birth to some 1,000 high-tech start-ups since its inception 11 years ago.

It was placed second globally, just behind The Rice Alliance for Technology and Entrepreneurship at Rice University in Houston.

Its role is to accelerate early-stage, high-tech, high growth businesses, regardless of any previous connection with the universities.

Bristol SETsquared is based in Engine Shed – the city’s new enterprise hub to drive inward investment, create jobs and encourage a new generation of high-growth businesses.

Nick Sturge, Director of Engine Shed, comments: “We have always endeavoured to operate in a global context.

“Most of the tech start-ups we work with are born global and this award confirms that we can provide the best incubation environment for local start-ups that will become global businesses.”

SETsquared success stories include companies that have developed swine flu detection kits, microchips that speed up connection to the internet, and security systems that protect against terrorism without impeding world trade.