This week is Universities Week, which aims to raise awareness of how universities benefit the economy and society.
They have created nearly 1,000 ‘spin-out’ companies, formed using the results of university research. These firms employ about 14,000 staff and had a combined turnover of £1.1 billion in 2007-2008.
Universities also offer support to students looking to start a business before graduating. And 93 per cent have a dedicated single enquiry point for small and medium-sized businesses, with many offering specialist facilities such as science parks.
Frank Noppell, 31, started Ambeo, a private jet charter company based in Cambridge, while studying for a doctorate in aerospace engineering at Cranfield University in 2007.
Frank, whose PhD was sponsored by Rolls-Royce, was inspired to set up a business while writing his thesis on the reduction on emissions from jet engines.
When he did his research he found there were rarely more than four people on private business charters, though most charter firms flew planes, which could carry many more passengers, leaving a gap in the market for a more fuel-efficient operator.
Coming from a family that ran its own business, German-born Frank says: ‘I always knew I wanted to run my own business.’
He was supported by Cranfield, which gave him an office and facilities as well as access to its alumni circle of business people.
Gaining a certificate to operate commercially took 14 months and Ambeo has been running flights since January. It has two four-seater places that operate all over Europe, saving customers an average of 30 per cent, compared with larger private jets.
Frank and his business partner, Andy Black, 50, now employ 16 staff, including six pilots, and have plans to add three more aircraft this year. Within the next five years Frank hopes to be operating up to 30 aircraft.
He says: ‘Cranfield University helped me hugely in terms of access to people and facilities. I attend events, talk to other students and meet useful contacts there – it is a two way street.’
Tags: graduates, start-up funding, Women in Science Engineering and Technology
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