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Britain has more Spin-off Power than is Generally Perceived

Britain has more Spin-off Power than is Generally Perceived
Tuesday, 4 December 2018

We know that academic spin-offs can greatly contribute to a country’s economy (as seen in the United States here), however it isn’t always easy to scale up academic ideas to business ones. In the UK there seems to be an overall negative perception of how well the country is able to create commercial possibilities from innovate ideas. Nevertheless, if we analyse the situation, this is not the case. In fact, in comparison to the size of the economy, Britain can be considered as one of the world leaders in numbers of spin-offs formed, patents and licences, etc. [1]

The source of Britain’s strength is in the research-intensive universities that are able to improve the capacities of professors while educating the future generations. In addition, university funded labs collaborate with private companies in different industries and support mentorship and spin-offs. [1] We can also see how higher education institutions in the UK are investing to improve the employability and professional skills of their students [2].

At the same time, despite the importance that academic research already has in the UK, improvements can still be made to the way that new technologies are transferred from universities to businesses. In addition, universities themselves can make an effort to improve the licensing of the technology that is developed within academic spaces. By updating policies and providing additional management support Britain could become a leader the number of companies generated from academic research. [1]

[1] https://www.theguardian.com/education/2018/nov/15/its-a-harmful-myth-that-uk-science-cant-translate-ideas-into-practice
[2] https://www.hesa.ac.uk/data-and-analysis/providers/business-community