Research reveals that business is booming at Falmouth University
Entrepreneurial spirit in Cornwall is reaching record levels, as new research reveals that Falmouth University’s graduates create more startup businesses than almost all other UK universities.
The research, which was conducted by financial platform Tide, placed Falmouth University third in its table, with only Kingston University and the Royal College of Art producing more graduate startups.
It makes Falmouth the highest ranked university outside of London.
According to the research, Falmouth University has created a staggering 1,135 graduate start-ups since 2014/15. The only other South West university to place in the top 50 was the University of the West of England (UWE), ranking 47th with 161 startups created.
Part of Falmouth’s success in the rankings is down to its innovative Launchpad programme.
Launchpad helps students to develop their business ideas with the support of mentors, partners and Entrepreneurs in Residence to create a viable startup that can become a profitable business.
Several success stories have come out of the venture studio in the last year alone. Aerospace Cornwall stumped up funding for Mike Robinson’s business Now & Then, Penryn based gaming company Waving Bear Studio launched its debut title Stuffed and visitor experience business Data Duopoly caught the eye of investors.
Falmouth University’s success in the rankings is also good news for Cornwall’s economy; all businesses that are born out of the Launchpad programme remain headquartered in the region for at least five years after incorporation, meaning that the skills, talent, investments and opportunities remain in the local area.
Tide’s research findings follow an independent economic report, which found that Falmouth University is worth £100 million to Cornwall’s economy every year – a figure which is targeted to double by 2030.
Steve Cox, Head of Launchpad Venture Studio at Falmouth University, believes that Launchpad can help to usher in a new wave of opportunities for Cornish residents.
“It’s fantastic news that Falmouth has ranked as the third most entrepreneurial university in the UK”, Steve told us. “The research demonstrates the innovative spirit of our students and that their business acumen can support economic growth in Cornwall. We have targets to deliver new jobs, new businesses and new market products locally; it’s an exciting time for business in the South West!”