UCL spinouts attracted £3bn investment in last five years

decorative UCL spinout businesses, formed to commercialise and scale up innovations in research, have created more than 2,200 new jobs and attracted almost £3 billion in investment in the last five years, according to a new report from UCL Business (UCLB). The report, released to mark the 30 anniversary of UCLB, UCL's technology transfer company, lays out the economic and societal impact of UCL's spinouts. These range from developing new gene therapies for hard-to-treat cancers to using remote sensing technologies to protect critical public infrastructure, and social ventures that help children eat more healthily and create paint from mining waste. Key figures from the report include: - £2.85bn in external investment raised by UCLB spinouts 2018-2023. 2,232 people employed by active UCLB spinouts. 22 therapeutics being tested in clinical trials, with five approved for patients including a one-shot gene therapy for haemophilia. 2,558 active licences for innovative technologies including the CPAP breathing aid, developed with Mercedes-AMG High Performance Powertrains (Mercedes-AMG HPP), which helped save COVID patients' lives.