Tech Transfer eNews Blog
University-Industry Engagement Advisor

Northern UK universities launch investment company with plans to raise £500M


By Jesse Schwartz
Published: April 27th, 2021

A group of Northern UK universities have launched a new investment company to help boost the launch of research-based start-ups.

Northern Gritstone will fund companies spun out from the University of Leeds, the University of Manchester and the University of Sheffield, using external capital from a range of investors. It will support start-ups in a variety of fields such as advanced materials, health care, life sciences, artificial intelligence and data sciences.

Northern Gritstone will provide significant initial and follow-on funding to the start-ups, with plans to raise up to £500 million (nearly $700M US) from strategic corporate partners, institutional investors and qualifying individuals.

Jane Madeley, chief financial officer at the University of Leeds, comments, “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. 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.”

According to University of Sheffield deputy president and deputy vice-chancellor Luke Georghiou, “Northern Gritstone will play a key role in the [UK] Government’s leveling up agenda and help the North of England’s local and regional economies to ‘Build, Back, Better,’ following the pandemic and economic burdens of lockdown. This company will be a game-changer for investment and commercialization of university-led research, ideas, and IP in the UK.”

Dave Petley, vice president for innovation at the University of Sheffield, comments, “Northern Gritstone is the culmination of a great deal of hard work and collaboration between three of the country’s leading research universities, but we are just at the beginning of a project that has immense potential for everyone, from investors to researchers.”

Source: University of Leeds

Posted under: Tech Transfer e-News

Twitter Facebook Linkedin Pinterest Email

No Comments so far ↓

There are no comments yet...Kick things off by filling out the form below.

Leave a Comment