Universities are quickly becoming hubs of entrepreneurship. As places that bring together bright minds, these institutions are powering the UK startup scene.
With just under a third of UK adults now either running a business or planning to start one in the next few years according to Natwest, it’s no surprise that universities are helping to turn big ideas into big businesses.
So, where should you study if you want to build the next Vinted, Monzo or Uber?
Well, new research from SUAZ tells us exactly where…
Why Is University A Good Launchpad For Entrepreneurs?
Universities are hubs of research and innovation. Whilst they tend to be more heavily associated with academia, it turns out they are great places for blossoming businesses too.
More and more, the UK’s top universities are launching their own accelerator programmes. These university accelerators bring together research, connections and funding to help get university founded ideas off the ground. Some examples of UK university accelerators include:
- Imperial Enterprise Lab at Imperial College London
- Launchpad at Falmouth University
- SETsquared Bristol, Bath, Exeter, Southampton and Surrey
- Oxford University Innovation’s Startup Incubator
- Accelerate Cambridge At The University of Cambridge
- UCL Hatchery
- Warwick Enterprise
- King’s Start-up Accelerator
- Edinburgh Innovations at The University of Edinburgh
But why are they so popular?
Well, by the nature of universities, they are hubs of innovation.
Universities, especially the top ones in the country, also have big alumni networks that comprise some of the brightest minds in the country.
Aside from those, universities are great places for big ideas to take flight. As places with co-working spaces, events and an in-built community, they can be the perfect environment as a launchpad for new business ideas.
Which Universities Are Producing the Most Startup Founders?
So the big question – which universities are doing this best? Well, according to data by SUAZ, the top entrepreneurial universities in the UK are…
1. University of the Arts London – 11.02% of alumni are founders
With creativity at its core, UAL is the top UK university for entrepreneurs.
Its courses in design, fashion, media and art don’t just teach students to create interesting pieces, they also teach them how to turn ideas into commercial businesses.
In addition to this, students also are encouraged to do internships and collaborate with businesses in their field, helping them get real-world experience from the start. The university also has its Creative Enterprise Programme, which helps its students build and launch businesses in the creative sector.
2. London School of Economics and Political Science (LSE) – 9.11%
LSE has always been known for being one of the top universities in the UK academically, but it’s also a great place for startup talent.
Through LSE Generate, students are able to access mentoring and funding, helping them understand and build businesses.
3. Imperial College London – 8.14%
If your business idea is rooted in STEM, Imperial is the place to be.
Known for its science and engineering research, the university helps students take their ideas outside of the classroom and into reality. The University’s Enterprise Lab helps founders by connecting them with mentors, giving them workspaces and providing opportunities to apply for funding.
4. University of Oxford – 7.72%
Oxford is one of the most famous universities in the world. But it isn’t just about celebrating 100s of years of academia, it’s also about startup support.
Supported by programmes like EnSpire Oxford and Oxford University Innovation (OUI), which help students and researchers commercialise their ideas, the university has strong ties with investors and VC firms, giving their student-led startups real chances to grow.
5. University of Cambridge – 7.65%
Another world famous university, Cambridge is known for being one of the most academic institutions in the world.
As home to some of the brightest minds, and with accelerators like Accelerate Cambridge, students can join an 11-week programme that includes workshops, networking and pitching opportunities.
It’s no surprise with this at its disposal, that the university is churning out successful founders.
When it comes to the rest of the top 10, the list includes:
University College London (UCL) – 6.57%
University of Edinburgh – 6.47%
City, University of London – 6.42%
King’s College London – 6.19%
Loughborough University – 5.62%
What Did Most Founders Study?
So, you know which universities are best – what about the subjects.
Turns out you don’t have to study business to be a successful entrepreneur.
However, unsurprisingly, Economics turned out to be the top degree choice for business founders.
The list of subjects that were most popular with founders included:
- Economics – 26,035 founders
- Business Administration & Management – 13,899 founders
- Management – 7,093 founders
- Design & Visual Communications – 3,619 founders
- Physics – 1,376 founders
- Law – 747 founders
- Business/Commerce – 680 founders
- Computer Science – 226 founders
Where To Start As A Founder
If you’re a student looking to start a business, your choice of university might be more important than you realise.
Whether you’re looking for mentoring, funding or to tap into a strong alumni network, some universities across the UK are better than others.
So, when you are looking at where to study, don’t just think about academic prestige, think about the place that can help you grow into the business leader you want to be.
