More On UK-California Tech Economy Cooperation

In an effort to catalyze innovation between technology clusters in the US and UK, UC San Diego and UC Irvine have entered into an agreement with the SETsquared Partnership to link research and commercialization efforts. SETsquared, a UK-based business accelerator, was awarded a $2.6 million grant by the UK's Department of Trade and Industry. Grant funds will seed collaborative applied research projects in high-growth areas such as the life sciences, new materials, stem cells, and tissue engineering.

"The San Diego region has one of the highest concentrations of high-tech companies in the United States and the third largest concentration of biotech companies in the nation," said California State Senator Christine Kehoe. "The state of California, the sixth largest economy in the world with a gross state product of nearly $1.5 trillion, is committed to improve collaborations between universities such as the SETsquared Partnership to develop leading-edge research results that will lead to economic development and job creation."

The SETsquared Partnership is a collaboration among the UK Universities of Bath, Bristol, Southampton and Surrey, generating successful enterprise and entrepreneurship in southern England. With over 6,500 researchers and 8% of the UK's academic research funding, the Partnership represents the largest single source of academic knowledge transfer in the UK. The Partnership has listed four companies on the UK's Alternative Investment Market with a combined valuation of over $265 million, raised more than $53 million in follow-on funding for spinouts, and supported more than 170 successful tech start-ups.

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