UK spinout investment hits record £3.35bn in 2024

April Lara
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UK spinout investment hits record £3.35bn in 2024

Investment in UK university spinouts reached a record £3.35bn in 2024, marking a 44% rise on the previous year, according to new data from Parkwalk and Beauhurst. The figures highlight renewed investor confidence following a slowdown in 2023, with average equity investment climbing from £4.96m to £7.49m.

Life sciences remained the leading sector for capital raised, particularly in pharmaceuticals and biotechnology, supported by continued interest in research commercialisation. Deep tech, AI, and data infrastructure firms also attracted significant backing, reflecting alignment with national innovation priorities.

Parkwalk emerged as the most active spinout investor during the year, completing 41 deals, or 54 when including transactions through its parent, IP Group.

The report points to a growing reliance on long-term capital and policy stability to sustain momentum in university-linked innovation. Analysts note that while the UK continues to demonstrate global strength in research translation, access to scale-up funding remains a decisive factor for future growth.

UK economy returns to slow growth in August

Tess Egginton
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UK economy returns to slow growth in August
The UK economy returned to growth in August, according to new figures from the Office for National Statistics (ONS). Monthly GDP (gross domestic product), a key measure of economy growth, is estimated to have increased by 0.1%, following a revised fall of 0.1% in July and a growth of 0.4% in June. It reflects, across key sectors, services showing no growth month-on-month, construction output dropping by 0.3%, and production output increasing by 0.4%. For the three months to August, real GDP grew by 0.3%, compared with the three months to May, a slight increase following growth of 0.2% in the three months to July. This saw services output grow by 0.4%, production output fall by 0.3%, and construction output increase by 0.3% in the three months to August, compared with the three months to May. Ben Jones, CBI lead economist, said: “Today’s figures confirm that growth over the summer was slower than during the first half of the year. Activity remains patchy across sectors, with many businesses reporting subdued demand and higher operating costs. And firms are choosing to sit tight on hiring and investment until there’s more clarity on the policy outlook. “The Budget provides a critical opportunity for the government to reaffirm its commitment to growth. Going further on planning reform is a positive first step and firms will be looking for further supportive interventions on November 26th. “This includes delivering the strategic reforms required to simplify the tax system, positioning business to invest in the skills they need through a fully flexible Growth and Skills Levy and exploring further measures to address the UK’s high energy costs.”

Shoreditch hub expands Cooper Parry’s national network

April Lara
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Shoreditch hub expands Cooper Parry’s national network

Cooper Parry has opened a new London base at Broadwalk House in Shoreditch, extending its network of seven superhubs across the UK. The 17,000-square-foot space on Appold Street houses more than 300 staff, including teams specialising in technology, audit, law, and tax.

The new hub is designed to promote flexible working and closer collaboration between departments. It features multiple meeting rooms, quiet areas, social zones, upgraded technology, and a wellness room. The workspace also includes dedicated sections such as touchdown areas for hybrid workers, a focus zone called the Secret Garden, and a main collaborative area known as the Field of Dreams.

The site was developed in partnership with Office Principles, incorporating findings from a workplace assessment to improve usability and efficiency. Facilities include event space, grab-and-go food options, and additional desks to support hybrid work models.

Cooper Parry’s latest expansion aims to strengthen integration between teams and enhance client service by supporting faster collaboration and knowledge sharing. The Shoreditch location marks a key milestone in the firm’s London growth strategy, underscoring its commitment to modern work environments that cater to the needs of its people and clients.

Steve Leith, Cooper Parry’s regional market leader for London & South and head of tech & high growth, said: “This space is the result of five years of belief, hustle, and momentum. It’s not just an office – it’s a reflection of how we work, how we collaborate, and how we treat each other. From six desks in WeWork to 300+ in Shoreditch, this hub marks a huge moment for CP in London – and sets the stage for everything we’re building next. “It’s also a game-changer for our clients. By bringing our experts together in one space, we’re creating more opportunities to collaborate, challenge thinking, and deliver specialist value. It’s a space that helps our people thrive – and when they do, our clients feel it.”

Derbyshire firm backs calls for more women in engineering

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Derbyshire firm backs calls for more women in engineering
Derbyshire-based Acres Engineering has joined calls for more women to pursue careers in manufacturing and engineering, echoing the message of this week’s Ada Lovelace Day event at the Houses of Parliament, which highlighted the vital role women play in shaping the sector’s future. Representatives Alison Parker and Helen Rose attended a breakfast reception at Westminster, hosted by Jodie Gosling MP for Nuneaton on behalf of the Manufacturing Technology Centre (MTC) and Lloyds Banking Group. The event brought together female role models, business leaders and policymakers to discuss how the UK can reach the “35 by 35” ambition – 35% of manufacturing roles held by women by 2035. Acres Engineering is already taking practical steps to help achieve that goal through its People First Pledge – a long-term commitment to creating opportunities, building skills and supporting social mobility in engineering. The pledge underpins the company’s investment in apprenticeships, internships and local school engagement to inspire future engineers from all backgrounds. Alison Parker, co-owner at Acres Engineering, said: “Representation matters – in leadership, in the workforce and in the stories we tell about industry. Manufacturing can only thrive if it reflects the diversity of the communities it serves. We’re proud to add our voice to the call for more women to see engineering as a place where they can belong and build long-term careers.” She added: “Events like Ada Lovelace Day are powerful reminders that inclusion isn’t just about fairness – it’s about securing the future of British manufacturing. As a Derbyshire SME, we want to show that you don’t have to be a global corporation to make a difference.” Acres also used the Westminster event to encourage other organisations to sign the Armed Forces Covenant. The company proudly holds the Gold Award under the Defence Employer Recognition Scheme, demonstrating its wider commitment to inclusivity, opportunity and social value across the engineering community.

Micronclean begins work on £20m carbon-zero cleanroom laundry campus

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Micronclean begins work on £20m carbon-zero cleanroom laundry campus

Micronclean has started work on what it says is “the world’s first operationally carbon-zero industrial laundry.”

This £20m project is being developed on a newly acquired 20-acre site on the outskirts of Skegness, which will become home to Micronclean’s innovative Cleanroom Campus, an advanced facility designed to shape the future of the company’s UK operations over the next decade.

The campus will be developed in a phased manner to support expansion, innovation, and long-term prosperity for both the company and the community.

The multi-phase development plan includes the construction of a GMP Grade B (ISO Class 5) Cleanroom Laundry, new manufacturing facilities for medical devices and cleanroom consumables, a modern warehouse, and a new head office. Phase One is now underway and will focus on delivering the world’s first operationally carbon-zero cleanroom laundry. The initial phase is scheduled to be operational during 2028. “This project is proof of our vision for a sustainable and innovative future,” said Greg Cochran, director. “We are proud to lead the way in developing world-class facilities that align with our commitment to reducing environmental impact while maintaining the highest standards in cleanroom contamination control services.” “This investment demonstrates Micronclean’s long-term commitment to Skegness and Lincolnshire,” added Greg. “Over the past decade, our headcount in Skegness has more than doubled to 300, reflecting our continued growth and confidence in the area. This project ensures that we can continue to provide stable, high-quality employment for years to come. We are proud that our success not only supports customers worldwide, but also creates opportunities here in our local community.” Sue Bowser, the landowner, said: “We are delighted that Micronclean has chosen to remain in Skegness and expand its business on the Skegness Gateway site. This land has been part of our family for many years, and we’re delighted that it will now be used to support the development of another local family business. It gives us a real sense of pride to see the land being used to secure jobs, support local people, their livelihoods, and the wider community.”

Food wholesaler relocates to new HQ

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Food wholesaler relocates to new HQ
Family-run food wholesaler, Waterside Food Services, is set to relocate to new 32,500 sq ft headquarters in Branston. The move will be completed towards the end of the year and follows a period of growth for the food business. The new facility called Unit 4 Premier Park on Lichfield Road in Branston, means the Morgan family will now run their entire business under one roof. Chris Morgan, managing director of Waterside Food Services, said the move was strategic and would enable the business to keep supplying high-quality products across the region. He said: “Right now, Waterside Food Services operates across three separate sites and I want to bring everything and everyone together. “This is a huge operation as we close sites and gradually moved into Unit 4 Premier Park – but it is an extremely exciting time for us. “All the staff are looking forward to being in one, larger unit and I know this will benefit us all and enable the business to grow and develop.” The deal for Waterside Food Services was secured by commercial property consultants, OMEETO, which is based on Pride Park, and Salloway Burton. Chris Wright, OMEETO director, said: “This deal has been superb and I know this new unit in Branston paves the way for future expansion and growth for Chris and his team at Waterside Food Services. “This site is a premium location for warehousing and distribution due to its location and we were delighted to secure this deal. We wish Waterside Food Services all the best as it moves into their new HQ.” Matthew Wrigley of PMW Properties welcomed Waterside Foods to its property in Branston. He said: “The expansion of Waterside Foods reflects the strength and growth of the local business and this is great to see and we are proud to provide a space that supports their continued success. As landlords, it is rewarding to see our property contribute to the development of such a dynamic business and I hope the relationship is a long lasting successful one.” Phil Randle, partner at Salloway Burton, said: “It is great to see Waterside select Premier Park as their new headquarters and a base for their expanding business.”

Government gives green light to major Lincolnshire solar farm

April Lara
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Government gives green light to major Lincolnshire solar farm

The UK government has approved plans for what is set to become the country’s largest solar farm, to be built near Glentworth in Lincolnshire. Covering around 3,000 acres, the Tillbridge Solar project will supply power to approximately 300,000 homes once completed.

Classified as a Nationally Significant Infrastructure Project, the development was approved by the Secretary of State for Energy Security and Net Zero, following a review that concluded the project’s benefits outweigh its local impacts. The decision adds to a growing list of large-scale clean energy projects, marking the seventeenth national approval since mid-2024.

The Tillbridge project is a joint venture between Tribus Clean Energy and Recurrent Energy. It will connect to the National Grid through infrastructure at the Cottam substation in Nottinghamshire.

Lincolnshire has emerged as a focal point for solar expansion, with two other major projects (Gate Burton and Mallard Pass) approved in 2024. Local councils have raised concerns about the cumulative effect of such large developments, while national energy planners view the region as critical to the UK’s renewable capacity goals.

Once operational, Tillbridge Solar will contribute to the government’s wider strategy of reducing dependence on volatile gas markets and accelerating the transition to low-cost renewable energy sources.

Gilson Gray appoints head of residential conveyancing

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Gilson Gray appoints head of residential conveyancing
Law firm Gilson Gray has appointed seasoned property lawyer Jeremy Davy as partner and head of its residential conveyancing division for England and Wales. Based in Lincoln, Jeremy will oversee Gilson Gray’s residential conveyancing division across England and Wales. He will focus on expanding the team’s operations, enhancing efficiency through technology and AI, and growing its headcount in key locations. Jeremy brings a wealth of experience to the role and joins from Broadfield Law, where he was chief operating officer and partner, overseeing legal operations and driving business growth. Prior to that, Jeremy was director of conveyancing at Connells Group, where he first worked with Debbie McCathie, head of residential conveyancing at Gilson Gray, to develop strategic partnerships. Jeremy began his legal career at Shoosmiths, where he progressed to partner and played a key role in establishing and growing the firm’s conveyancing arm. He also served as an advisor to HM Government, RICS, The Law Society and Land Registry in relation to residential property matters and home buying reform. Debbie McCathie, head of residential conveyancing at Gilson Gray, said: “We’re delighted to welcome Jeremy to the team. His appointment marks another important step in our ambition to become the leading provider of residential conveyancing services across the UK. “Jeremy’s strategic insight and commitment to innovation will be invaluable as we continue to grow our operations. At Gilson Gray, we’re proud to offer clients a seamless experience across every aspect of property, legal, and financial services.” Jeremy added: “Gilson Gray has been on my radar for some time, and I’ve long admired its ambition and rapid expansion. I’m excited to join at such a dynamic stage for the firm and to help further develop its market-leading conveyancing operation, driving innovation and supporting continued growth across England and Wales.”

Boston station redevelopment opens new commercial opportunities

April Lara
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Boston station redevelopment opens new commercial opportunities

East Midlands Railway is inviting businesses to lease new office spaces within Boston station as part of a £2.8 million redevelopment funded by the Government’s Town Deal initiative.

The project comprises two 12-square-metre units situated near the town centre, designed to provide affordable workspaces for small enterprises, start-ups, and community organisations. Each unit includes access to shared kitchenette and washroom facilities, with meeting space available when required.

The initiative is part of a broader effort to revitalise the station and its surroundings, positioning it as a local hub for business and community activities. The site’s high passenger traffic (over 270,000 journeys made through Boston station last year) adds to its potential as a commercially viable base for tenants seeking visibility and convenience.

East Midlands Railway’s redevelopment aims to attract new ventures to the area while supporting local economic growth through flexible, low-cost leasing options.

Postcards light up Diwali for thousands in Leicester

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Postcards light up Diwali for thousands in Leicester
Thousands of people in Leicester will receive unique Diwali postcards through their letterboxes this week, sharing stories of people’s experience of the Festival of Lights – a major part of the city’s cultural calendar for more than 40 years. Over 10,000 homes will receive the postcards tomorrow (16 October), which form part of We Bring Light: Leicester’s Diwali Legacy, an anniversary research project set up to celebrate an event that is central to the identities of the South Asian community. Supported by fintech company Marshmallow, the two-year project has been driven by the city arts organisation Inspirate, whose executive director, Jiten Anand, grew up in the Belgrave community – the traditional heart of Leicester’s Diwali celebrations. It comes at a time when support for the festival in Leicester has been reduced due to funding constraints at Leicester City Council, which last year withdrew its financial backing for the long established Diwali lights switch-on event. Jiten said: “Generations have celebrated the Diwali lights switch-on and we are here to honour their story. We want to bring hope and light to the people of Leicester and the rest of the world. “The legacy of what Diwali festival has brought to the local, national and global South Asian diaspora will always continue. Hopefully, our project can add to that story – we’re an arts organisation telling the story of the city’s heritage and want to do what we can to keep Diwali alive.” Specially designed by artist Sharonjit Sutton, the Diwali postcards are one of five elements of the We Bring Light: Leicester’s Diwali Legacy project. They are also the culmination of two years of work by lead researcher Malini Chakrabarty, who spoke to generations of people in the city’s South Asian communities about their lives and experiences. Alongside the postcards reaching thousands of homes, the project also includes a short documentary film created by film maker Kieran Vyas, a website designed by Sharonjit Sutton, a display of glowing Diwali lanterns designed and crafted by children in local schools, and a mural on Belgrave Road created by acclaimed artist Shiraaz Ali. Meghan Elliott of Marshmallow said: “We know how important community and connections are, which is why we’re proud to sponsor We Bring Light. “This project shines a spotlight on resilience, diversity and human connection and supporting it is a natural extension of our mission to empower those who step outside the norm to create brighter futures for themselves and their families.”
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