Universities for the North East says companies started by staff or graduates have helped create 4,000 new jobs
More than 1,000 companies have spun out of the North East’s five universities in the last decade, creating more than 4,000 jobs, a new study reveals.
The analysis by Universities for North East England - which brings together the region’s five higher education institutions, including Durham University - has found that 1,100 new companies were created by staff and graduates between 2014 and 2023. Figures from Higher Education Statistics Agency data also reveal that graduates make up 57% of the workforce in the North East and account for a significant proportion of the workforce in key growth sectors.
Universities for North East England was formed last year in a bid to increase collaboration with businesses and other organisations, as well as ensuring that higher education is accessible to young people from the region.
The universities are keen to highlight their impact on the regional economy, both in the direct jobs they provide but also by driving job creation by helping staff and students to turn research into growing companies.
