Oxford University launches new start-up scheme

Oxford University has launched a new scheme to help students initiate new businesses and start-ups.

The Oxford Guild, one of the oldest careers society in Europe, had launched a trial of the new Oxford Accelerator last year and is now officially opening up the initiative to applications from Oxford University students, alumni and start-up hopefuls from the surrounding Oxfordshire area in England.

“They will get everything from mentoring and training to access to workspace and funding. People think it's harder to start a business than it is and that's something we're looking to change,” said Abbas Kazmi, founder of the Oxford Accelerator, told The Daily Telegraph.

Oxford Accelerator is aimed as the UK's answer to Y Combinator, the California-based accelerator programme.

The university already runs a programme to help students bring their ideas to market but, according to Kazmi, the new scheme is focused on hi-tech engineering and science research.

“There are no opportunities for students at Oxford, especially undergraduates, to launch apps, service businesses or lifestyle companies. The support on offer is very tech-focused,” Kazmi was quoted as saying by The Daily Telegraph.

In reference to competitor Cambridge University success at commercialising research, he added, “We need to start playing catch-up. Oxford only made this a priority in the early 2000s while Cambridge has been doing spin-outs since the nineties.”