1、1Spotlight on SpinoutsSpinoutsUK academic spinout trendsSpotlight onMarch 20252Spotlight on Spinouts1 3 4 5 7 8 9 10 11 12 13 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 ContentsForewordExecutive summary Chapter 1:DemographicsTop academic institutionsSpinout clustersRegional distributio

2、nDominant sectors Emerging sectorsChapter 2:Funding sourcesEquity investment Top investors Innovate UK grant fundingChapter 3:Survival,growth and exitsSurvival ratesGrowth stagesExit volumesTop exitsChapter 4:LeadershipGender of founders and directorsGender of founders and directors over timeNationa

3、lities of directorsChapter 5:Equity stakesEquity stakes methodologyUniversity and founder stakesUniversity stakes by company typeEquity stakes of universitiesAverage university stakes AppendixFull methodologyAbout the authors 1Spotlight on Spinouts We are delighted to present the fifth edition of ou

4、r annual report,Spotlight on Spinouts 2025,which is produced in collaboration by the Royal Academy of Engineering and Beauhurst.For the past five years,this report has provided a crucial read and a comprehensive analysis of the trends in UK spinouts.Year-on-year it presents a wealth of quantitative

5、data in an area that has historically lacked transparency.When we began this initiative in 2021,our aim was to understand what it takes for spinouts to thrive.By tracking investment trends and knowing more about the processes,people and decisions that power our spinouts and the outcomes they lead to

6、,we hoped to identify best practice and incentivise and facilitate change.Five years on and we are proud of what we have achieved.Our data has catalysed debate and discussion,university equity stakes have hit a 10-year low of 16.1%,equity investment in spinouts is on the rise and the Independent Rev