Question to the Department for Science, Innovation & Technology:

To ask the Secretary of State for Science, Innovation and Technology, with reference to the Independent review of university spin-out companies, published on 21 November 2023, what steps his Department plans to take to support the growth of university spin-out companies.

Universities have a vital role to play in supporting the Government’s growth mission; in 2021/22 university spin-outs raised £5.29 billion in investment. As stated in our manifesto, the Government will work with universities to support spin-outs which play a vital role in creating the innovations that will support our national Missions. We welcome the work that Irene Tracey and Andrew Williamson produced for the independent review and will consider their recommendations carefully.