What happens when university research becomes a business? It’s called a spin-out and it’s built Silicon Valley, with Stanford University at the centre. In the UK, Oxford alone has launched more than 200 in the last 15 years.

Whether it’s a new drug, software or material, brilliant university research can create huge rewards – for founders, universities and the economy. But also battles over who really owns the idea and should get a share of the equity.

Does the spin-out system deliver or does it stall? Evan Davis and a panel of guests discuss.

Guests:

Production team:

It's easier than ever to create a website for your business and talk directly with customers, but what are the pitfalls to avoid? Three business leaders discuss the pros and cons of selling 'D2C' with Evan Davis.

Sellers no longer need to convince bigger retailers to carry their products or invest in inventory just to fill the shelves. Selling direct to consumers online also means businesses know exactly what their best sellers are, and who is buying what. These businesses can make improvements quickly and market only to those people most likely to buy.

But as online selling becomes more competitive and targeted advertising gets more expensive, how can 'direct to consumer' businesses grow? Does the answer lie in bricks and mortar?

Panel:

Alexandra Thurstan, co-founder Different Dog, fresh dog food company

Born in Halifax, West Yorkshire, Greg Jackson left school at 16 to write computer games, later joining Greenpeace before returning to study economics at Cambridge. Growing up in a family so stretched that the energy supply was cut off, he channelled that experience into a drive to make energy fairer and more affordable. By his twenties he was running a mirror business, before moving into tech start-up investing. In 2016 he founded Octopus Energy. Less than a decade on, it serves more than 7 million customers in 18 countries, manages a £6 billion renewable portfolio, and licenses its Kraken technology to utilities worldwide — with the company now valued at close to $9 billion.

Producer: Georgiana Tudor

In 2019, Charlie Bowes-Lyon co-founded Wild with childhood friend Freddy Ward, frustrated by the lack of sustainable options in personal care. Their first product — a refillable deodorant in compostable packaging — struck a chord with consumers looking to cut down on plastic. From a standing start, Wild became one of the UK’s fastest-growing consumer brands, selling millions of units, building a loyal online following and moving rapidly into high-street stores. The company has already replaced hundreds of tonnes of single-use plastic. In 2025, Wild was acquired by Unilever in a deal worth hundreds of millions. Charlie speaks to Evan Davis about building a disruptive eco-brand, and what it takes to scale a start-up into a global business.

Producer: Osman Iqbal

Mark Dixon left school at 16 and began selling hot dogs before building a bread roll business. In 1989 he founded Regus, spotting the need for flexible offices after watching people hold meetings in coffee shops. From a single site in Brussels, he grew the business into IWG — now the world’s largest provider of flexible workspace, with thousands of locations in more than 120 countries. Along the way he faced fierce competition and survived the dotcom crash. Mark speaks to Evan Davis about his journey from hot dog stands to global boardrooms, the setbacks that nearly ended it all, and how he built a company now worth billions.

Producer: Osman Iqbal

Tom Beahon played youth football for Tranmere Rovers from the age of eight, but when he realised he’d never make the very top, he walked away to chase a new dream: building a sportswear brand with his brother, frustrated by the lack of quality kit on the market. Today, Castore is valued at almost a billion. Tom joins Evan Davis to discuss giving up football, starting a business from scratch, and how they persuaded stars like Andy Murray to invest in the brand.

Image used with permission by copyright holder Castore

When he finished university Anthony Eskinazi was destined for a graduate scheme with a top accountancy firm, but he couldn’t resist a business idea he’d had while trying to get to a baseball game during his gap year. The tech entrepreneur tells Evan Davis how he gave up job security, and a promising career path, to try to connect drivers with under-used parking spaces.

Producers: Simon Tulett and Georgiana Tudor

(Image: Anthony Eskinazi Credit: Simon Tulett/BBC)

When an investor pulled the plug on a £3m cash injection for Joanna Jensen’s fledgling business, it could not have come at a worse time. The Childs Farm founder was just about to launch in two of the UK’s biggest high street stores, and was also going through a divorce and moving out of the family home with her two young daughters. Joanna tells Evan Davis how the last-minute let-down taught her who she could trust in business and what she needed to look for in a future financial partner.

Producer: Georgiana Tudor

(Image: Photographer: Emily Patrick. Copyright: Joanna Jensen)

When Nick Grey started his cordless vacuum business 20 years ago he took a big risk by handing a lot of control to a much bigger rival. The entrepreneur, who’d designed and built prototypes in his garage, tells Evan Davis about that decision and the moment he knew it had really paid off.

Production team:

Producer: Simon Tulett

Image: Photographer: Jack Pope. Copyright: Gtech

Zak Brown didn’t graduate high school – he was thrown out for fighting - but he loved sport. He watched his first Formula 1 race when he was 10, and became captivated by the cars, sound and speed. An appearance on a teen version of Wheel of Fortune, aged 13, won him some Cartier watches that he would later pawn for $1000, using the money to buy a go-kart and launch his racing career. But when it became clear he wouldn’t reach the heights he hoped for, he had a big decision to make. He tells Evan Davis about his path to becoming boss of one of the biggest names in motorsport.

Production team:

Producer: Osman Iqbal