Scotland’s spinout potential is real – and its capital is finally catching up

University Spinouts are having a moment. Investment in the sector hit £3.35bn in 2024, up 44% on the year before, and the institutions driving those headlines – UCL, Oxford, Cambridge – are clustered within a few miles of each other in London. UCL Business’ recent research underscores the point, with academics at a single London university having driven £3.06bn in external investment across 95 active spinout companies over the past five years.