Oxford University's research and innovation activities have generated significant impact on the UK's wider economy, according to figures released by the university. For every £1 invested in

Oxford research, the university's innovation activities generate another £10 for the wider economy, resulting in the creation of 300 companies in a range of sectors including life sciences, AI, quantum computing, engineering, cleantech and energy, fintech, and software.

Professor Irene Tracey, Vice-Chancellor of the University of Oxford, highlighted the fundamental role universities play in driving UK economic growth and in stimulating an entrepreneurial culture and ecosystem in Britain. She expressed immense pride in the university's researchers and staff, who support the translation of research into impact and bring benefits to regional, national and global communities.

Matt Perkins, CEO of Oxford University Innovation (OUI), said that their goal is to support the development of innovative ideas from the university into impactful businesses that benefit society. The milestone of creating 300 companies is a testament to the dedication of the academics, the hard work of the OUI team, and the strength of the Oxford innovation ecosystem.

Of the 300 companies created, over half have been established in the past decade, with many catalyzed by support from science business builder Oxford Science Enterprises (OSE) and other investors. Since OSE's creation in 2015, funding available for Oxford companies has risen dramatically, with investment in Oxford companies increasing from an average of £125m a year (2011-2015) to £880m per year (2018-2022).

Jim Wilkinson, Chief Financial Officer at Oxford Science Enterprises, pointed out that investors from around the world have come to Oxford to back their companies, providing the crucial lifeblood necessary to scale Oxford companies at pace. This influx of capital has been met with a surge of talent and rapid development of infrastructure to support Oxford's portfolio, positioning Oxford as the foundation for the UK's ambitions to become a science superpower.

The companies created by the University include research spinout companies bringing Oxford research to the wider world, such as DNA sequencing firm Oxford Nanopore Technologies and autonomous vehicle firm Oxbotica, entrepreneurial startups exploring new business models and sectors including ID verification firm Onfido, and social ventures created to address some of the world's most pressing challenges, such as poverty-fighting firm Sophia.

In conclusion, Oxford University's research and innovation have been instrumental in the creation of 300 companies, demonstrating its significant impact on the wider economy. The University and OUI have supported founders in creating some of the UK's leading technology firms, contributing significantly to economic growth and development. The surge of talent and rapid development of infrastructure to support Oxford's portfolio have positioned it as a foundation for the UK's ambitions to become a science superpower. Photo by Remi Mathis, Wikimedia commons.