Two University start-ups included in leading European list of young tech spinout companies
Two start-up businesses from have been named in a top ten of 鈥榰niversity spinouts to watch鈥�.
The list is in , Europe鈥檚 influential media monitor of European tech start-ups. Backed by the Financial Times, Sifted is the leading media brand for the European start-up community.
Two of the top ten highlighted start-ups 鈥� and 鈥� have been created and nurtured within the University of Manchester Innovation Factory (UoMIF).
Sifted says: 鈥淭here鈥檚 a new generation of entrepreneurs taking the European tech scene by storm. From Madrid to Milan, Bucharest to Berlin, startup innovators are rewriting the economy鈥檚 rules and making waves across the continent. With some 98 cities producing at least one tech unicorn (so far) 鈥� Europe has created a decentralised Silicon Valley.鈥�
Under UoMIF鈥檚 CEO Andrew Wilkinson, the technology transfer organisation has created 32 IP-rich spinout companies in the three years.
It鈥檚 great that these two innovative University of Manchester spinout companies have been recognised as being among the very best European tech startups. Both these businesses are led by brilliant young entrepreneurs and have the potential to make an enormous environmental, social and economic impact in their target markets, as well as fantastic returns for their investors.
Sifted鈥檚 鈥榯op ten university spinouts to watch out for鈥� says: 鈥淲atercycle Technologies is a University of Manchester (UoM) climate tech spinout. The company has patented a filtration process that can extract lithium from sub-surface waters 鈥� which could be huge for the EV space, which needs lithium in huge quantities for making batteries. It鈥檚 also working with Cornish Lithium, which focuses on environmentally responsible lithium extraction.鈥�
鈥淔OTENIX is another UoM spinout, which uses its IP-protected machine learning and 3D imaging tech to detect diseases and pests and improve harvest quality. Brexit, climate change and the Ukraine war are putting unprecedented pressure on crop yield, and we鈥檙e seeing a growing demand for tech in this space.鈥�
Andrew Wilkinson, CEO of The University of Manchester Innovation Factory said: 鈥淚t鈥檚 great that these two innovative University of Manchester spinout companies have been recognised as being among the very best European tech startups. Both these businesses are led by brilliant young entrepreneurs and have the potential to make an enormous environmental, social and economic impact in their target markets, as well as fantastic returns for their investors.鈥�