Thursday, February 29, 2024

Two University start-ups included in leading European list of young tech spinout companies

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Sifted’s ‘top ten university spinouts to watch out for’ says: “Watercycle 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 — which could be huge for the EV space, which needs lithium in huge quantities for making batteries. It’s also working with Cornish Lithium, which focuses on environmentally responsible lithium extraction.”

 “FOTENIX 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’re seeing a growing demand for tech in this space.”

Andrew Wilkinson, CEO of The University of Manchester Innovation Factory said: “It’s 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.”

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