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Universities increase income from business collaboration

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UK universities earned £4.2 billion from provision of services to businesses and collaborative research in the 2014-15 academic year, up from £3.9bn the previous year.
The latest Higher Education Business and Community Interaction Survey (2014 – 2015), published on 7 April by the Higher Education Statistics Agency, looked at all publicly funded UK higher education institutions and their interactions with businesses and other organisations.
In 2014-15, the largest chunk of this income was from collaborative research involving public funding, which reached £1.26bn, up from £1.14bn in the previous year. This was a change in emphasis, as in 2013-14 universities gained most of their income from contract research. However, contract research earnings also increased between 2013-14 and 2014-15, from £1.2bn to £1.21bn.

Universities also upped their earnings from courses for business and the community by £35m to £715m, from regeneration and development programmes by almost £22m to £205m, and from intellectual property by £24m to £155m.

The analysis also includes information on the number of spinouts and start-up companies created by UK universities, and shows that the number of graduate start-up companies created in 2014-15 was 4,160, lower than the 4,581 companies started in 2013-14.

However, the total number of active firms with some involvement from a higher education provider in the UK was 13,045 in 2014-15, up from 11,856 in 2013-14.

The Higher Education Funding Council for England will publish its analysis of the data for England later in the year.

This article was posted in Research Professional.

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