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How graduates are driving economic growth

20 March 2025
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A new report reveals the critical role that university graduates play in driving growth, including by starting their own businesses.

Figures from the Higher Education Statistics Agency (HESA) show that:

  • From 2014/25 to 2022/23, the number of start-up businesses established at UK universities increased by 70%, with more than 4,300 firms registered on average each year;
  • Since 2014/15, nearly 40,000 companies have been formed with the support of universities;
  • In North East England, more than 1,000 companies were created by university staff and graduates between 2014 and 2023, providing more than 4,000 jobs in 2023.

In addition, analysis of UK Government figures by Universities UK (UUK), the body that represents UK universities, revealed that university graduates make up 57% of the workforce in North East England.

UUK is calling for universities to be sustainably funded, so that these positive trends can continue.

Working together for North East England

North East England’s five universities, Durham, Newcastle, Northumbria, Sunderland, and Teesside, are working together through Universities for North East England (UNEE) to ensure that the region remains a vibrant, competitive, and attract place for investment and talent development.

The figures highlight yet another great example of the positive contribution that graduates and our staff bring to the UK. This shows how universities are a vital part of a strong economy by equipping graduates with skills to support the UK’s future. At Universities for North East England, we’re committed to working collectively to unlock the full potential of the young people in our region for the benefit of the North East and beyond.
Professor Chris Day
Vice-Chancellor and President, Newcastle University, on behalf of UNEE

Introducing Low Carbon Materials

Low Carbon Materials (LCM) aims to decarbonise concrete and asphalt, which contribute hugely to the world’s carbon emissions. The firm designs and manufactures carbon-negative aggregates, the essential crushed stone, sand, or gravel components that give concrete and asphalt their strength and stability.

LCM received support through Northern Accelerator, a collaboration between North East England’s universities, and Durham University directly. The company was a finalist in the 2022 Earthshot Prize and has recently secured £3 million growth acceleration funding. The first ever net zero asphalt scheme was completed on Durham University’s estate in March 2024 and LCM has gone on to decarbonise numerous road surfacing projects across the country, including on the M11 and A64.

Find out more