Ben Howlett, the MP for Bath, hosted some of the country’s most innovative new tech start-up businesses at a House of Commons reception for SETsquared, recently named the world’s number one university business incubator.
Following the event, Ben commented: “I was delighted to have the opportunity to host this high-profile event for SETsquared, which gave a platform to some of its fantastic start-up businesses to demonstrate their services and products.
“I enjoyed meeting with the businesses presenting, especially Green Running, which started life in Bath, which provides a range of products to help people monitor, analyse and manage energy consumption enabling users to make savings, lower their carbon footprint and achieve sustainability targets.
“SETsquared leads the way in technological advances in the UK, including Bath, and has given invaluable support to fledgling high-growth potential technology companies with great success.
“They currently support more than 250 high-growth potential technology companies, all of which are developing businesses based on technology innovation in sectors as diverse as cloud computing, cleantech, medtech, next generation mobile and spacetech.”
At the event, SETsquared announced that its member companies raised over £90m of investment in 2015 – the highest annual investment figure ever achieved by the 14-year-old enterprise partnership of the universities of Bath, Bristol, Exeter, Southampton and Surrey.
Secretary of State for Business, Innovation and Skills, the Rt Hon Sajid Javid MP said: “It’s great to hear of SETsquared’s vital work and the record level of investment raised by the businesses they support.
“Business incubators, such as this, play a crucial role in helping start-ups innovate, compete and grow and I remain committed to backing entrepreneurs across the country.”
The investment raised by the start-up companies translates into economic growth, and independent research commissioned by SETsquared shows that its companies have created over £3.8bn of value (GVA) in the South of England’s economy since 2004.
SETsquared’s plans for continued growth will see the economic contribution created by its companies rise to £8.6bn over the next 10 years.
Simon Bond, Innovation Director at SETsquared, said: “We were very grateful to Bath MP Ben Howlett for hosting this prestigious event to celebrate SETsquared’s ranking as the world’s number one university business incubator at the House of Commons.
“The event helped everyone attending to appreciate the profound effect that SETsquared’s ambitious, innovative, ventures have on our economy and entrepreneurial culture.
“It’s important for SETsquared, as the world’s leading university business incubator, to show the vital work that’s going on to help place the UK at the forefront of innovation and entrepreneurship.”
