SETsquared Bristol contributes 10% of total investment raised in South West for third consecutive year

Posted by 

SETsquared Bristol

SETsquared Bristol is delighted to announce that its members raised a combined £40.2 million in 2020, contributing to over 10% of the total investment raised by the South West region for the third consecutive year in a row.

Despite the South West seeing a slowing down in investment due to the pandemic, more than half of its 80 members secured funding in 2020, a record figure for the University of Bristol-led tech incubator.

Other successes in 2020 saw SETsquared Bristol members create 225 new jobs in the city region, generate £32 million in turnover revenues, and achieve record numbers for leadership diversity.

SETsquared Bristol is an active supporter of making tech more inclusive. Its initiatives to give under-represented groups access to funded business support and coaching include its  Breakthrough Bursary for BAME (Black, Asian and Minority Ethnic) startups, now in its second year, and its Enterprising Women programme, in partnership with NatWest. In 2020, women made up 45% of its member founders/CEOs, and people from a BAME background made up 23%.

Investment successes in 2020 included digital eye care company, OKKO Health, who raised £1.3m from funding and a grant from Innovate UK to develop their new app which enables eye professionals to remotely monitor their patients’ eye health.

OKKO Health Co-founder and CEO, Dr Stephanie Campbell, said:

“COVID-19 has made the need more urgent to bring home-monitoring technology to ophthalmology. We were delighted to secure both investment and grant funding in 2020 to develop our product, secured with the support of the SETsquared team.”

Other successes included Duel, a brand advocacy platform, which secured £1.8 million in funding to develop its brand advocacy tools, advance its patented curation AI and hire more staff.

Earlier stage investment successes included GenomeKey, a research and development startup searching for faster diagnosis and treatment of sepsis, which raised £192,000 from 16 members of Bristol Private Equity Club.

Steve Edwards, Centre Director of SETsquared Bristol, said, “These fantastic results are a reminder of the strength of tech innovation in the South West, a testament to the work our members have put in to grow and a sign of the consistency of the SETsquared Bristol programme. We are also proud that we done this the right way, with our focus on inclusion paying dividends through an incredible representation of women and BAME founders.

 

Watch this video for more information about SETsquared Bristol and visit www.setsquared-bristol.co.uk to apply to join the Global #1 incubator.

Subscribe to the monthly newsletter to keep up-to-date with SETsquared Bristol news, events and opportunities.

Recent News, Blogs and Stories

Tech-Xpo 2022 Best Elevator Pitch winner - Joyann Boyce, Inclued

Inclued wins Best Elevator Pitch award at Tech-Xpo 2022 

Our member, Bristol-based startup Inclued whose software helps identify bias, pitched against eight other innovative technology startups to win ‘Best Elevator Pitch’ at Tech-Xpo on Wednesday 29 June.  Now in...
Resized for website thumbnail

Innovative tech companies announced for Tech-Xpo 2022

Sixteen of our member companies will exhibit and demo their innovative products at our flagship Tech-Xpo 2022 showcase on 29 June. The companies shortlisted to compete for Best Elevator Pitch award are:...
Zentraxa scientist in lab

Biomaterials startup Zentraxa announce seed investment

Our member company and University of Bristol spin-out, Zentraxa, has raised capital investment from Future Planet Capital, BPEC and Science Angel Syndicate to develop their innovative Zentide platform for engineering...

SUCCESS IS THE GOAL

Fast track your technology business