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SETsquared Exeter

By January 1, 2021April 28th, 2021EXIST

Joe Pearce is Head of Business Support at the University of Exeter and represents SETsquared, a partnership between five universities across the South of England. 

Working at the University of Exeter for about 15 years, Joe’s role has always focused on supporting regional SMES, initially in developing student and graduate placements and then establishing Knowledge Transfer Partnerships.  Prior to joining the University he built up experience in owning and running small businesses, having been commercial manager of a process engineering business and director of a funding consultancy.  Joe now heads up the SETsquared Exeter activities including the Business Acceleration support now based at Exeter Science Park, and formerly operating out of the Innovation Centre.

SETsquared, formed in 2003, was originally a collaboration between Bath, Bristol, Southampton and Surrey Universities with Exeter joining the group in 2011.  The SETsquared partnership was ranked as the World’s Top Business Incubator – Managed by a University by UBI Global in February 2018, having supported over 3,500 hi-tech start-ups to develop and raising more than £1.5bn of investment.

SETsquared has three main areas of activity: student enterprise, research collaboration and business acceleration, providing a suite of programmes (ICURe, Entrepreneurship, Business Acceleration, Scale-Up, Open Innovation and Investment) which assist companies from the early research stage through to start-up and on to growth.

For Joe, a key focus has been student entrepreneurship, having developed a number of initiatives designed to facilitate entrepreneurialism and support start-up business.  “We want to encourage students to consider running their own businesses from the offset, as an attractive and viable alternative to seeking employment upon graduation.  Our works sets out to ensure that first year students know about SETsquared and throughout their courses there are a multiple opportunities to develop their knowledge and understanding of business, whatever discipline they are studying.”

This autumn the University of Exeter is launching its first curricular entrepreneurship programmes – including modules open to all students to take towards their degrees.  The courses will give students an understanding of entrepreneurial skills and competencies through a wealth of case studies and classroom-based learning. 

Students taking this module are encouraged to join the SETsquared Exeter ‘Think, Try, Do’ programme which offers the opportunity to plan and launch their own businesses in a safe and supported environment.  Joe said: “In the last academic year the team ran events, workshops and 1-1 meetings which attracted more than 1,100 students. In the previous 2 years we supported the launch of 18 student led businesses, 10 of which continue to trade, and between them have raised over £1M in private investment.  Some participants have gone on to run very successful businesses, such as ModMyPi and Kompas.  However, at this early stage, failure, as much as success, is a big part of the learning curve.”

In addition, the University is developing both space for student entrepreneurs at the Innovation Centre and funding opportunities through the new Graduate Entrepreneur Maintenance (GEM) Fund, which aims to help recent graduates stay in the region to launch their businesses. (link)

Across the SETsquared group, it is estimated that 9,000 jobs have been created since the launch of the partnership, with a vision for a further 14,200 jobs over the next decade.

Taking a business-centric approach is paramount to Joe’s work and in a wider context to the development of the region.  Joe says: “The development of the Exeter Science Park and the strategic partnership between  the Science Park and SETsquared Exeter is critical to support STEMM business in the area.  The Science Park provides a vehicle to deliver regional growth in hi-tech, research collaborative companies.”

The Science Park is currently home to 22 SETsquared clients, with the number set to grow as further buildings are completed. 

Joe says: “Our ambition is to keep the talent we grow, by nurturing students, encouraging collaboration between our world-class researchers and supporting businesses from start-up to scale-up and beyond.  This is central to the region’s economic success.”

The SETsquared Exeter Team

SAM MICKLEBURGH, expert in residence

Sam has a background in large corporate business, as well as launching a number of successful start-up companies herself.  Her experience spans working for BP, BA and Thompson Reuters and playing a pivotal role in the turnaround of Axminster Carpets, as well as launching start-ups in fashion and retail.  At SETsquared Exeter Sam offers one-to-one support for clients on growth strategy and is adept at connecting clients to the wealth of knowledge and expertise available.

EMILY DAVIES, student start-up manager

Emily is the SETsquared student start-up manager, focusing specifically on Student Enterprise projects. Emily is responsible for programming and delivering workshops, events and providing one-to-one support to nurture and encourage enterprise and entrepreneurship.

CASE STUDY: KOMPAS

KOMPAS was formed in Munich in 2015, by co-founders Tom Charman and Olivia Higgs, while completing a year abroad as part of their degree at Exeter. After returning from Germany, Think; Try; Do supported them in fine-tuning the early stage business with its MVP, and now employs 10 full-time employees with an expected turnover of £250,000 for 2018. Tom presented at the SETSquared Investment Showcase in 2017, and the company has successfully raised a significant round of investment in recent months. Tom was involved with SETsquared right the way through his degree, and said ‘SETsquared Exeter and Think; Try; Do has not only helped KOMPAS, but it’s helped me develop as an entrepreneur during my time at university’. KOMPAS currently has offices in the U.K. and U.S.