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Oxford University taking steps to promote more innovation

Oxford University taking steps to promote more innovation
Friday, 7 July 2017

The sector of Oxford University which commercialises the science and technology information, Oxford University Innovation, has accumulated £580 million for funding. A large part of the new available funding comes from Asian investors in the sector of Oxford Sciences Innovation [1]. Oxford launched 24 companies last year in 2016, contributing around £52.6 million for early stage funding, and doubling the number of companies they started the previous year [2].

Oxford now has the largest private university fund in the United Kingdom [1], and might be the most productive in all of Europe [2]. In 2016, with the 24 spin-off companies, Oxford set a record for the number of business from higher education institutions in Europe. In addition, this university also improved the number of patents filed and the amount of licences sold [2].

The specialities of spin-offs coming from Oxford range from aeronautics to wireless energy transfer, social sciences, big data and virtual reality. The investment that the University is making into the spin-off community is encouraging more investment into these endeavours [2]. And the inversion of money from foreign investors is vote of confidence in regards to the British research sector [1].

More and more, the value given to academic spin-offs is increasing both from the research perspective and in regards to stimulating the economy. However, as in the case of Oxford, perhaps what we are seeing is the need for universities to invest in their own research in order to generate interest and confidence from outside sources.

[1] https://www.ft.com/content/4d5d32be-bd78-11e6-8b45-b8b81dd5d080
[2] http://www.ox.ac.uk/news/2017-01-09-oxford-most-prolific-university-innovator-europe