Businesses founded by Teesside University students have some of the highest turnover in the country, bringing millions of pounds of revenue into the North East region and beyond, new data has revealed.
The viability of Teesside University graduate enterprises is also extremely high, ranking as the best in the region.
The data was revealed in the latest set of results from the Higher Education Business and Community Interaction Survey (HE-BCI) which measures the volume and direction of interactions between UK higher education providers, business and the wider community.
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The survey data shows that for the academic year 2021/22, the estimated current turnover of all active businesses founded by Teesside University students was more than £94 million, which is the 7th highest total in the UK.
In addition, there were 133 graduate enterprises still trading after three years; a survival rate which is the highest of all North East higher education institutions included in the survey.
This success is put down to the University’s approach to embedding an entrepreneurial approach, with enterprise placed at the centre of the curriculum and actively supported as a legitimate career path for all students.
At the heart of Teesside University’s enterprise offer is Teesside Launchpad, a part of the £5.6 million University Enterprise Zone, which provides affordable accommodation and professional advice and support for students, staff and graduates, driving a thriving start-up community on campus.
Some of the North East’s most successful businesses have been founded by Teesside University graduates and benefited from the support offered by the University’s enterprise team.
These have included SockMonkey Studios, a successful games developer which was recently acquired by Canadian studio Behaviour Interactive; and Big Bite Creative which was recognised last month by The Sunday Times as one of the best places to work in the UK.
Steve Dougan, Head of Enterprise at Teesside University, said: “From students launching a side-hustle to social enterprises to high-tech digital start-ups, we have a programme of interventions for all manner of new businesses and work hard to ensure that the University is there to help support them at all stages of their business journey.
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“We are delighted that this work has been validated with the HE-BCI survey and we can see the impact that our graduate-led businesses are having within our communities.”
Professor Craig Gaskell, Pro Vice-Chancellor (Enterprise and Knowledge Exchange) at Teesside University, added: “These figures reflect the ambition and drive of our graduate community.
“As a University, we support the regeneration of the region’s economy by equipping students with the skills, behaviours, and confidence to fuel enterprise.
“It is fantastic to see this this work is delivering real results and impact.”
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